Market continues recovery into new week
Market continues recovery into new week
Following the recovery momentum from last week's final session, the market opened the new week on a positive note, although liquidity remained low.
At an FPT office in Hà Nội City. Shares of the software manufacturer led the market on Monday. — Photo FPT.com |
On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased by 6.64 points, or 0.54 per cent, to 1,230.28 points, marking a second consecutive day of gains.
Throughout most of the day, the VN-Index traded above the reference level, maintaining a relatively stable range and closing the session higher.
The market's breadth was positive, with gainers outnumbering losers by 193 to 118. Liquidity on the southern bourse remained low at VNĐ14 trillion (nearly US$559 million), a decrease of 1.7 per cent compared to the previous trading session.
The VN30-Index, which tracks the 30 largest stocks, climbed 6.6 points, or 0.52 per cent, to 1,271.44 points. Nineteen ticker symbols in the VN30 basket edged up, while four inched down and three ended flat.
Data compiled by the financial website vietstock.vn showed that FPT Corporation (FPT) was the biggest gainer, rising by 2.44 per cent and contributing more than 1.1 points to the VN-Index.
Another notable stock movement was Vietnam Airlines JSC (HVN). Shares of the national airline surged after three consecutive declines, hitting its ceiling price, increasing by 6.82 per cent and contributing over 0.74 points to the VN-Index.
Other prominent gainers included Vietnam Rubber Group - Joint Stock Company (GVR), up 2.15 per cent, PetroVietnam Gas Joint Stock Corporation (GAS), up 1.1 per cent and Mobile World Investment Corporation (MWG), up 1.52 per cent.
However, some stocks faced significant selling pressure, notably the "Vin" group stocks leading the decliners. Specifically, Vinhomes JSC (VHM) dropped 1.88 per cent and Vingroup Joint Stock Company (VIC) fell 1.46 per cent.
According to stock market analysts from Viet Dragon Securities, the decrease in liquidity compared to the previous session indicates that supply has cooled, reducing pressure on the market.
The move to surpass the 1,220-point resistance could help the market extend its recovery in the near future. However, overall, support money remains cautious as the market rises and the current upward momentum is primarily driven by reduced supply pressure. Investors can anticipate the market's recovery potential but should remain cautious and avoid chasing rising prices. At the same time, they should consider taking profits or restructuring their portfolios during market rebounds to minimise risk.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Monday, rising by 0.61 per cent to 230.77 points.
During the session, nearly VNĐ1 trillion worth of shares, equivalent to a trading volume of over 44.5 million shares, were traded on the northern market.
