Market rallies but liquidity falls
Market rallies but liquidity falls
Shares closed higher on Tuesday on both the national stock exchanges as the blue chips gained ground, but the liquidity continued to decrease due to rising investor caution.
On the HCM Stock Exchange, the VN-Index rose 0.85 per cent over Monday to end at 578 points yesterday.
The gainers outnumbered the losers by 105-89, while 75 shares closed unchanged.
Ten of the top 30 shares by market value and liquidity rallied, while eight slumped and 12 closed flat. The VN30 index inched up 0.51 per cent to end at 632.10 points.
However, the liquidity on the market continued to fall with the market volume falling by 10 per cent from the previous session, totalling over 50 million shares, and the market value reducing by 30 per cent to reach just VND917 billion, or US$43.4 million.
"The investors continued to maintain a careful approach towards equity assets during a time of uncertain outlook," analysts of FPT Securities wrote in a note.
Some blue chips gained, leading the market's rebound. PV Gas (GAS) and Masan Group (MSN) climbed nearly 3 per cent and Vietcombank (VCB) grew over 1 per cent.
Real estate developer FLC Group (FLC) was again the most active stock on the trading of 7 million shares, but the price slipped 4.5 per cent to end at VND10,600 a share.
On the Ha Noi Stock Exchange, the HNX-Index increased 0.29 per cent to close at 79.88 points. The HNX30, tracking the top 30 shares on the bourse, was also up 0.5 per cent to close at 160.46 points.
The trading continued to fall, however, as the market volume and value decreased another 10 per cent, totalling 31 million shares, worth VND371 billion, or $17.6 million, respectively.
PetroVietnam Construction Corp (PVX) was the most active code with 4.1 million shares being exchanged at VND5,100 a share.
The market is closed today. It will reopen on Monday after the commemoration of the National Reunification Day and May Day.
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