Shares continue mixed results

Shares continue mixed results

On the HCM City Stock Exchange yesterday, the VN-Index inched up 0.01 per cent to finish at 507.78 points.

Trading value touched VND1,153 billion (US$54.2 million) as the volume of transactions reached over 101.2 million shares.

Despite blue chips gains from Phu My Fertiliser (DPM), steelmaker Hoa Sen (HSG), Vietcombank (VCB) and property developers Hoang Anh Gia Lai (HAG) and Vingroup (VIC), the VN30 tracking the bourse's top 30 shares retreated 0.26 per cent to 569.06 points.

On the Ha Noi Stock Exchange, the benchmark HNX-Index finished down 0.13 per cent at 65.19 points. However, the HNX30, comprised of the northern city's leading stocks in terms of capitalisation and liquidity, gained 0.09 per cent to 122.62 points.

Trading value exceeded VND296.1 billion ($13.9 million) on a volume of 40.2 million shares.

Foreign investors concluded yesterday as net buyers on both bourses, picking up a margin of VND36.6 billion ($1.7 million).

ACB Securities Co analyst Vo Dinh Khoi said the indices were testing their resistance levels and he did not expect the market to grow strongly, at least for the next few weeks.

He also predicted the VN-Index would fluctuate between 502-513 points, while the HNX-Index might decline to 63.20-63.50 points.

According to Tran Hai Yen from Bao Viet Securities Co, there was unlikely to be much information to affect the market next month.

"However, the medium-term trend remains on an upward curve, and investors can afford to hold on to a certain proportion of shares in their portfolios," she added.

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