VN-Index returns to threshold of 1,100 points

Customers at a store of Mobile World Investment Corporation in Thái Hà Street, Hà Nội. The company’s shares soared more than 4.3 per cent on Wednesday, supporting the rally trend. — VNS Photo Mai Hương

HÀ NỘI — The market inched higher on Wednesday, with the VN-Index returning to the 1,100-point level.

The VN-Index on Hồ Chí Minh Stock Exchange (HoSE) closed the trade at 1,100.76 points, an increase of 4.46 points, or 0.41 per cent. It recouped some losses on Tuesday after falling for four straight days.

On the southern bourse, 197 stocks performed positively, while 111 ticker symbols finished lower.

Liquidity remained at a low level but improved from the previous session. In particular, the trading value increased slightly to VNĐ13.3 trillion (US$545.3 million), equal to a trading volume of more than 598.2 million shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, also rose 5.14 points, or 0.47 per cent, to 1,097.01 points. In the VN30 basket, 19 tickers inched higher, while six declined and five stayed unchanged.

According to Saigon – Hanoi Securities JSC (SHS), in the short term, the market remains neutral as there is still a possibility of a technical recovery to reach the 1,150 point level if the benchmark breaks over the 1,100 point level soon.

In the medium term, the VN-Index will need a long time to find a balance area and form a new accumulation foundation after the deep correction, SHS added.

“We expect that in a positive case, the VN-Index can overcome the short-term resistance of 1,150 points to form a high accumulation zone within the range of 1,150 points – 1,250 points,” the securities firm said.

Dominating the uptrend today was Mobile World Investment Corporation (MWG), Masan Group (MSN), Vinamilk (VNM) and Vinhomes (VHM), up in a range of 1.14-4.31 per cent.

Meanwhile, many big bank stocks posted negative performances, such as Techcombank (TCB) down 0.82 per cent, Vietcombank (VCB) dropped 0.12 per cent, HDBank (HDB) decreased 0.79 per cent and VPBank (VPB) dipped 0.27 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher, up 0.89 points, or 0.39 per cent, to 228.16 points.

During the session, over 53.9 million shares were traded on HNX, worth more than VNĐ1 trillion.

Meanwhile, foreign investors continued to net sell more than VNĐ412.3 billion on the HoSE, and net buy a small amount of VNĐ523 million on HNX. — VNS