Stocks rise slightly on investor selling before holiday
Stocks rise slightly on investor selling before holiday
Shares rose slightly in the two local markets on Friday morning as investors attempted to make short profit ahead of the national holiday.
The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 717.6 points. Việt Nam’s key index had risen by 1.3 per cent in the previous two sessions.
The smaller HNX Index on the Ha Noi Stock Exchange closed 0.1 per cent higher, at 89.4 points. The northern market index had advanced by 1.7 per cent in the previous two days.
Market trading liquidity was high on investor selling with around 131 million shares worth VND2.54 trillion (US$113 million) being traded.
Trading was negative in the first half of the morning session, but gained in the later half. Large-cap stocks underperformed with 18 of the 30 largest companies by market capitalisation declining.
In its report, Vietnam Investment Securities Company had said that investors might increase selling on Friday as the markets had risen in the previous two sessions and would be closed for some days on account of the national holiday.
Of the 20 sectors in the bourses, only eight saw share prices rising, including banks, food and beverage producers, and construction firms.
The afternoon session starts at 1pm.
