Shares gain on strong fluctuation
Shares gain on strong fluctuation
Shares finished mixed on Monday, higher on the HCM Stock Exchange but lower on the northern bourse, experiencing strong volatility in large-cap prices.
The benchmark index gained 0.83 per cent to end at 1,011.29 points. The index ended Friday at 1,002.97 points, totalling weekly growth of 1.17 per cent.
Contrary to strong demand in previous sessions, Monday’s session witnessed fluctuations.
On the Ha Noi Stock Exchange, the HNX-Index posted a loss of 0.18 per cent to end at 115.59 points. It gained 2.14 per cent last week to finish at 115.80 points.
Nearly 235.7 million shares, worth over VND4.9 trillion (US$216 million), were traded across the two markets on Monday.
Overall market conditions were balanced with 231 gainers and 224 losers, while another 288 closed unchanged.
Tracking the southern bourse’s largest stocks by capitalisation and liquidity, the VN30-Index added 1.15 per cent to end at 985.59 points.
In the VN30 basket, 21 stocks gained and eight stocks lost.
The benchmark index received support from Kido Group (KDC), Masan Group (MSN), real estate developer Novaland (NVL) and Vincom Retail (VRE).
Other large-caps also gained strongly, including PetroVietnam Gas JSC (GAS), insurer Bao Viet Holdings (BVH), Mobile World Investment Corporation (MWG), Viet Nam National Petroleum Group (PLX), Vinamilk (VNM) and budget carrier Vietjet (VJC).
However, the market also underwent strong downward movement in the afternoon. Many large-cap stocks faced profit taking pressure after a long recovery period.
Losers included Tien Phong Plastic Joint Stock Company (NTP), Vicostone JSC (VCS), VPBank (VPB), Vinamilk (VNM) and Bank for Investment and Development of Viet Nam (BID), putting pressure on the indices.
According to Bao Viet Securities Company, the VN-Index would stay on its short-term uptrend, and investors could keep their stock exposure above a moderate level until the VN-Index broke the 1,020 mark.
According to BIDV Securities, the market would continue its uptrend towards the resistance level of 1,025 points.
“Investors should continue keeping close eyes on global macro-economic news, especially the US imposing an additional $200 billion in taxes on Chinese goods and the possibility that the Fed may raise interest rates in the upcoming September 26 meeting,” it said.
Foreign investors today bought VND53.79 billion on HOSE, focusing on MSN, steel maker Hoa Phat Group (HPG) and Vietcombank (VCB). However, they sold VND5.08 billion on the HNX.
The UPCOM Index (UPCoM) inched up 0.33 per cent to finish at 53.67 points. It gained 0.95 per cent to finish at 53.49 points in the previous session.
