Market mixed, VN-Index hovers above 1,200 points
Market mixed, VN-Index hovers above 1,200 points
Market was mixed on Friday as investor sentiment was down on news that the operation of KRX system continued to be postponed, but bottom-fishing force was strong enough to push the VN-Index higher.
The entrance of Times City urban complex, which is invested by Vingroup. Shares of the company surged more than 5.8 per cent on Friday, leading the market's trend. — Photo vinhomesgardeniacity.com |
On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased slightly 4.55 points, or 0.38 per cent, to 1,209.52 points.
However, the breadth was in negative zone as 160 ticker symbols ticked down while 147 climbed. The liquidity remained low, with the trading value reaching nearly VNĐ15.5 trillion (US$611 million).
The VN30-Index, tracking the 30 biggest stocks on HoSE, rose 6.78 points, or 0.55 per cent, to 1,240.5 points. In the VN30 basket, 13 stocks finished up while 13 were down and four stayed unchanged.
Rising selling pressure weighed down the market in the morning session after the State Securities Commission (SSC) rejected the HoSE's proposal on the implementation of the KRX system on May 2 due to lack of justification.
Market participants were also reluctant to make big bids ahead of the long holiday.
Leading the market's trend was Vingroup (VIC). Shares of the property developer soared over 5.8 per cent on the last trading day of the week.
Positive financial results in the first quarter of 2024 backed the strong performance. The company's profit after tax reached over VNĐ1.3 trillion, double the amount of the same period last year. This is also its highest quarterly profit since the fourth quarter of 2020.
Other stocks supporting the bullish trend were HDBank (HDB), Vietnam Rubber Group (GVR), Mobile World Investment Corporation (MWG) and Techcombank (TCB). All stocks posted gains in a range of 1 - 4.9 per cent.
In contrast, the HNX-Index on the Hà Nội Stock Exchange (HNX) closed lower at 226.82 points, down 0.75 points, or 0.33 per cent. More than 69.6 million shares of stocks were traded on the northern market, worth nearly VNĐ1.4 trillion.
Foreign investors returned to be net buyers on the two main exchanges. Of which, they net bought nearly VNĐ111.3 trillion on HoSE and VNĐ97.25 trillion on HNX.
