VN Index rises further, but market trading low
VN Index rises further, but market trading low
The benchmark VN Index on Friday gained further, but market trading remained low on increased investor selling even as the index approached a 10-year high of 800 points.
The index on the HCM Stock Exchange continued to rise after a six-day rally, adding 0.35 per cent to close at 799.51 points, slipping a bit after scaling to 801.83 points during the session.
Market trading liquidity remained low with around 69.3 million shares worth VND1.55 trillion (US$69 million) being traded.
The southern bourse was boosted by the performance of 11 large-cap stocks in the VN30 Index, which tracks the performance of the 30 largest companies by market capitalisation.
Gainers include food and beverage producer Masan Group (MSN), brewer Sabeco (SAB) and insurance-finance firm Bao Viet Holdings (BVH).
However, market trading conditions for the afternoon session seem fragile as investors increased selling local stocks after the VN Index touched its 10-year high of 801.83 points.
The pressure of investor selling reflected in the negative performance of 18 other large-cap stocks on the VN30 Index, including food producer Kido Group (KDC), property developer Vingroup (VIC) and BIDV (BID).
At the Ha Noi Stock Exchange, the HNX Index fell 0.46 per cent to end at 104.13 points. The northern market index had rallied by a total 0.8 per cent in the previous three sessions. Around 24.7 million shares were traded in the northern exchange, worth VND334 billion.
The afternoon session starts at 1pm.
