HÀ NỘI — Shares advanced for a second day but liquidity fell to a low level, showing investors’ caution about the market outlook.
On the Hồ Chí Minh Stock Exchange, the VN-Index increased 0.62 per cent to close Wednesday at 1,301.53 points. The southern market’s index rose nearly 2 per cent on the previous day.
Meanwhile, the HNX-Index on the Hà Nội Stock Exchange grew 0.92 per cent to end at 333.04 points. The northern market’s index leapt more than 2 per cent on Tuesday.
Overall market breadth was positive with 18 of 25 stock groups gaining value, of which information communication technology (ICT), construction and ancillary production were the biggest gainers with average growth of 3.1 per cent, 2.9 per cent and 2.4 per cent, respectively.
FPT Corp (FPT), Investment and Industrial Development Corp (BCM), Vinhomes (VHM), Refrigeration Electrical Engineering Corp (REE), Development Investment Corp (DIG) and Vincom Retail (VRE) were also among the top shares lifting the VN-Index.
The banking sector – the market thermometer – also performed well with 13 of the total 20 listed banks posting gains. Eximbank (EIB) hit the ceiling of a 7-per-cent growth while bigger banks such as Vietinbank (CTG), BIDV (BID), Military Bank (MBB) and Asia Commercial Bank (ACB) increased between 1.7-6 per cent each.
Seafood and food-beverage stocks fell, however, with the three biggest shares by market capitalisation – Masan Group (MSN), Vinamilk (VNM) and Sabeco (SAB) – dropping 3.6 per cent, 1.6 per cent and 0.9 per cent, respectively.
Liquidity continued to decline as just 468 million shares worth VNĐ12.6 trillion changed hands in the two markets, down more than 30 per cent in both volume and value compared to Tuesday’s levels.
“The market’s downtrend was tamed before the vital support area of 1,230 points of the VN-Index and reversed. However, we think this improvement is not great because the volume just stopped at the average of 20 sessions, and there was a divergence with many stocks that could not recover,” said Phương Nguyễn, a stock analyst at Viet Dragon Securities Co.
Phương said the market may continue the recovery but will re-test the supply and demand pressure. Therefore, investors should slow down to observe the market and temporarily take advantage of this recovery to restructure their portfolio to minimise risk in stocks that are under great selling pressure.
Foreign traders remained net sellers on HCM City’s bourse but their sales slowed down to a net value of VNĐ95 billion on Wednesday. They were net buyers on Hà Nội’s exchange, responsible for a net buy value of nearly VNĐ4 billion. — – VnExpress News
- Reduce Hair Loss with PURA D’OR Gold Label Shampoo
- Castor Oil Has Made a “Huge” Difference With Hair and Brow Growth
- Excessive hair loss in men: Signs of illness that cannot be subjective
- Dịch Vụ SEO Website ở Los Angeles, CA: đưa trang web doanh nghiệp bạn lên top Google