VN Index up slightly, touches 10-year high
VN Index up slightly, touches 10-year high
Though both markets rose only marginally on Wednesday morning, the benchmark VN Index on the HCM Stock Exchange touched 692.37 points, its highest since 2008.
On the whole, investors remained unwilling to make further purchases and offloaded some of their assets for profits before the Tet holidays.
The VN Index inched up 0.2 per cent in the morning session. The southern market index has increased by 1.3 per cent in the past three days.
The HNX Index on the Ha Noi Stock Exchange also gained 0.2 per cent to close at 83.87 points, extending its growth for a second day.
Market trading liquidity was modest compared to the previous sessions, with around 71.1 million shares worth VND1.24 trillion (US$55.3 million) being traded.
Investor sentiment was low as many were waiting for the VN Index to test its resistance level of 690 points before making further decisions. Others were clearly holding back from buying new assets on the last trading day of the lunar year.
Among large-cap companies, VCS Advanced Quartz Joint Stock Company (VCS) and PetroVietnam Technical Services Corp (PVS) on the Ha Noi Stock Exchange, and Sacombank (STB), Faros Construction Corp (ROS) and dairy firm Vinamilk (VNM) on the HCM Stock Exchange were the strongest gainers.
However, bank stocks began to suffer from investors’ profit-taking after their recent good run. Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Eximbank (EIB) dropped between 0.2 per cent and 1.5 per cent.
