Vietnam stocks mixed, liquidity rises

Vietnamese shares were mixed on Friday with the benchmark VN-Index falling as exchange-traded funds (ETFs) completed their quarterly portfolio reviews.-VNA/VNS Photo

The VN-Index on the HCM Stock Exchange edged down 0.18 per cent to finish this week at 1,002.97 points, marking weekly growth of 1.17 per cent.

The HNX Index on the Ha Noi Stock Exchange gained 0.64 per cent to end at 115.80 points, rallying total 2.7 per cent after four straight days.

The northern market index increased by total 2.14 per cent from the previous week’s end of 113.37 points.

Foreign investors net-sold VND756.7 billion worth of local stocks, compared to their net-buy value of VND6.3 billion made on Thursday.

Market trading liquidity shot up with nearly 373.8 million shares traded on the two exchanges, worth VND10.15 trillion (US$451.3 million).

Friday also recorded the highest daily trading value since May 18, when trading value on the two exchanges reached the record high of VND35.83 trillion.

The significant increase of market trading liquidity on Friday was attributed to the quarterly portfolio reviews of ETFs that targeted to buy in shares of Vinhomes and the Vietnam Electrical Equipment JSC (Gelex).

Despite the ETF purchasing, Vinhomes and Gelex shares, listed as VHM and GEX on the HCM Stock Exchange, fell 3.3 per cent and 2.5 per cent, respectively.

The decline of the benchmark VN-Index was attributed to the downtrend of petroleum stocks, led by PetroVietnam Drilling and Well Services (PVD).

The energy sector index lost 1.6 per cent, data on vietstock.vn showed.

PVD lost 2.2 per cent after having gained 23.6 per cent since September 5.

Other industries that also saw share prices drop included rubber, transportation and logistics.

On the positive side, banks and securities firms were the major driving factors for the stock market’s short-term outlook.

The two sector indices gained 0.7 per cent and 0.6 per cent, respectively, according to vietstock.vn.

Among gainers of the two industries were Vietinbank (CTG), Sai Gon-Ha Noi Bank (SHB), VPBank (VPB), Asia Commercial Bank (ACB), BIDV Securities (BSI) and Vietinbank Securities (CTS).

According to Bao Viet Securities JSC (BVSC), the market may go back to its balance following the two ETF portfolio shake-ups and more positive moves are predicted for the coming sessions.

Good market outlook was provided on the increase of liquidity, which “indicated investors’ confidence about the market’s uptrend in the short term,” BVSC said in its report.