Vietnamese markets rebound thanks to the recovery of pillar stocks
Vietnamese markets rebound thanks to the recovery of pillar stocks
Vietnamese markets rebounded Tuesday thanks to the recovery of pillar stocks but liquidity remained low on cautious investor sentiment.
FPT's new headquarters on Phạm Văn Bạch Street in Hà Nội. FPT rose 1.1 per cent yesterday. — FPT.com.vn |
On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index rose 1.13 per cent to end at 1,105.90 points.
It had slid 1.31 per cent to end Monday at 1,093.53 points.
The market's breadth was positive, with 355 gainers and 142 losers.
Liquidity decreased compared to the previous session, with 509 million shares traded on the southern bourse, worth nearly VNĐ10.5 trillion (US$1.2 billion).
The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.93 per cent, to end at 1,117.12 points. Twenty-six out of 30 stocks in the VN30 basket posted gains, while one decreased.
In the VN-30 basket, the best performers were Bảo Việt Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Masan Group (MSN), Novaland (NVL), Vingroup (VIC) and Việt Nam National Petroleum Group.
Banking stocks rebounded strongly and bolstered the market, with gainers including Sài Gòn Thương Tín Commercial Joint Stock Bank (STB), Sài Gòn-Hà Nội Bank (SHB), Asia Commercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB) and Liên Việt Post Bank (LPB).
"The market continued to move with low liquidity. Although there was a move to restrain the decline, in general, the cash flow was still cautious and not actively buying," said Việt Dragon Securities.
"Currently, the supply pressure is mostly coming from foreign investors. Although this sector is net buying, if we exclude put-through transactions at Vinhomes (VHM), the net selling level is also quite large. It is expected that the market will see a fluctuating situation around the current area to explore supply and demand in the next trading session."
"However, it is still necessary to consider the potential risks from the market's poor trend after losing the MA(200) area. Therefore, investors still need to observe supply and demand developments to reassess the state of the market. Temporarily, it is still necessary to consider the market's recovery ability to restructure the portfolio in a way that minimises risks," it said.
Twenty-one out of 25 sector indices on the stock market posted gains, including retail, wholesale, real estate, construction, seafood production, securities, insurance, IT, banking, food and beverage, construction materials and logistics.
On the other side, losers were healthcare, oil and gas, rubber production and agriculture.
On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 1.17 per cent, to end yesterday at 228.89 points.
During the session, investors poured over VNĐ1.2 trillion into the market, equivalent to a trading volume of 60.8 million shares.
