Cautious sentiment keeps liquidity low, despite rebound of key stocks

Facilities of PetroVietnam Gas JSC (GAS). GAS rose 1.6 per cent yesterday. VNA/VNS Photo

HÀ NỘI Vietnamese markets rebounded on Friday, driven by the recovery of key stocks, but cautious investor sentiment kept liquidity low.

On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index rose 0.73 per cent to end at 1,102.16 points.

It had slid 0.79 per cent to end Thursday at 1,094.13 points.

The market’s breadth was neutral, with 254 gainers and 227 losers.

Liquidity decreased compared to the previous session, with 603.6 million shares traded on the southern bourse, worth nearly VNĐ12.2 trillion (US$502 million).

The Vietnamese markets experienced a rebound, primarily driven by the recovery of pillar stocks. However, the overall liquidity remained low as investors maintained a cautious stance. Despite the positive movement in certain stocks, market participants exercised restraint, leading to limited trading activity, said financial news site vietstock.vn.

The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.8 per cent, to end at 1,090.39 points. Twenty-three out of 30 stocks in the VN30 basket posted gains, while one decreased.

In the VN-30 basket, the best performers were Bảo Việt Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Masan Group (MSN), Vingroup (VIC) and Việt Nam National Petroleum Group (PLX).

Banking stocks rebounded strongly and bolstered the market, with gainers including Sài Gòn-Hà Nội Bank (SHB), Military Bank (MBB), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB) and Liên Việt Post Bank (LPB).

Cash flow continues to indicate caution, particularly as the market nears the resistance threshold of 1,108 points. The market may experience a modest rebound around the support range of 1,090 – 1,095 points, said Việt Dragon Securities Co.

Therefore, investors should maintain caution and closely monitor supply and demand dynamics to reassess the market’s condition. At this juncture, it is best to consider profit-taking or portfolio restructuring to minimise risks.

Twenty-one out of 25 sector indices on the stock market posted gains, including retail, wholesale, real estate, construction, seafood production, securities, insurance, IT, banking, food and beverage, construction materials and logistics.

Conversely, losers were healthcare, oil and gas, rubber production and agriculture.

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 0.05 per cent, to end yesterday at 226.26 points.

During the session, investors poured over VNĐ1.3 trillion into the market, equivalent to a trading volume of 74 million shares. — VNS