Shares gain but demand remains weak
Shares gain but demand remains weak
Vietnamese markets had a good start on Monday morning but cash flow was still weak making liquidity low.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.58 per cent to close at 964.75 points.
The VN-Index increased by total of 0.58 per cent last week.
Liquidity remained low with more than 68 million shares traded on the southern bourse, worth VND1.47 trillion (US$63 million).
Many blue chips such as Phu Nhuan Jewelry (PNJ), Vietnam National Petroleum Group (PLX), PetroVietnam Power Corporation (POW), Bao Viet Holdings (BVH), FPT Corporation (FPT), Vietinbank (CTG) and Bank for Investment and Development (BID) dropped due to the weak demand, putting pressure on the market.
Gainers in the morning included Vinhomes (VHM), Vingroup (VIC), Vietjet Air (VJC), Mobile World Group (MWG), Vincom Retail (VRE), Vietcombank (VCB) and Hoà Phát Group (HPG), supporting the indices.
Large-cap stocks also made gains. The large-cap VN30-Index rose 0.63 per cent to end at 871.96 points.
The large-cap basket was mixed with 18 gainers and 8 decliners while four stocks ended flat.
On the Ha Noi Stock Exchange, the HNX-Index climbed 0.07 per cent to end at 104.93 points.
Nearly 11.9 million shares were exchanged on the northern market, worth VND131 billion.
