Market finishes higher on return of domestic investors

Workers loading products on a truck at a warehouse of Hoà Phát Group. Shares of the steel producer jumped nearly 1.3 per cent on Wednesday, supporting the market’s uptrend. — Photo hoaphat.com.vn

HÀ NỘI — The Vietnamese stock market rose on Wednesday, lifted by the improvement of domestic investor sentiment, while foreign capital still saw a net outflow from two leading exchanges. 

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed the trading day at 1,126.43 points, an increase of 10.46 points, or 0.94 per cent. Today’s recovery recouped all losses set in the previous session. 

The market’s breadth returned to positive territory, with 251 stocks advancing and 71 ticking lower. 

Liquidity also improved slightly from Tuesday’s trade. In particular, the trading value increased by 5.4 per cent to VNĐ18.02 trillion (US$742.46 million), while the trading volume rose 3.5 per cent to 853.96 million shares. 

The VN30-Index, which tracks the 30 most extensive stocks on HoSE, traded higher at 1,109.27 points, an 8.85 points increase, or 0.8 per cent. In the VN30 basket, 27 ticker symbols were up, while one edged down. And two stocks stayed flat. 

According to Saigon – Hanoi Securities SJC (SHS), the mid-term trend remains neutral as the market finds a new balance after a deep correction.

“We expect that in a positive case, the VN-Index will likely break the short-term resistance of 1,150 points to form a high accumulation zone within the range of 1,150 – 1,250 points. In a less positive case, there is a high possibility of an accumulation zone in the mid-term of 1,100 – 1,150 points,” SHS said. 

Leading the bullish trend was a member of the real estate industry. Specifically, Becamex (BCM) posted the biggest gain, up 4.27 per cent. The company’s shares even logged the most significant daily rise of 7 per cent in early trade. 

It was followed by Vietcombank (VCB), Hoà Phát Group (HPG), VPBank (VPB) and PV Gas (GAS). All the stocks gained in a range of 0.6-1.31 per cent. 

Securities stocks also performed well, supporting the uptrend. For example, SSI Securities Corporation (SSI) was up 0.9 per cent, VNDirect Securities Corporation (VND) also gained nearly 0.9 per cent, VIX Securities JSC (VIX) rose 2 per cent, SHS climbed 1.55 per cent, and Hồ Chí Minh City Securities Corporation (HCM) soared 2.44 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index extended rallies for the fourth day in a row. It finished at 233.63 points, up 2.29 points, or 0.99 per cent. On the bourse, over VNĐ2.1 trillion worth of shares were traded. 

Meanwhile, foreign investors continued to be net sellers on both leading exchanges. They net sold VNĐ548.61 billion on HoSE and VNĐ7.49 billion on HNX. — VNS