Market extends rally as foreign investors continue net buying
Market extends rally as foreign investors continue net buying
Vietnamese markets continued their upward trend, closing higher on Wednesday as foreign investors net bought for the third consecutive day.
At the Vietinbank Cửa Nam branch transaction office. CTG shares led the market on Wednesday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index increased by 5.95 points, or 0.47 per cent, to end the trading session at 1,264.9 points.
Throughout most of the day, the VN-Index remained above the reference level, maintaining a stable range and finishing higher.
The market's breadth was positive, with gainers outnumbering losers by 179 to 114. Liquidity on the southern bourse reached VNĐ18.5 trillion (US$748.4 million), marking a 37 per cent increase from the previous session.
The VN30-Index, which tracks the 30 largest stocks, rose by 7.29 points, or 0.56 per cent, to 1,310.94 points. Seventeen stocks in the VN30 basket gained, nine declined and four remained flat.
Data compiled by the financial website vietstock.vn showed that the Vietnam Joint Stock Commercial Bank For Industry and Trade (CTG) was the biggest gainer, rising by 2.15 per cent and contributing more than one point to the VN-Index.
It was followed by the Bank for Foreign Trade of Vietnam (VCB), which increased by 0.55 per cent, FPT Corporation (FPT), up 1.28 per cent and Vietnam Airlines JSC (HVN), which rose by 4.78 per cent.
However, some stocks faced mild selling pressure, limiting the market's gains. Hòa Phát Group JSC (HPG) fell by 0.59 per cent, Vingroup Joint Stock Company (VIC) declined by 0.58 per cent and Vincom Retail Joint Stock Company (VRE) dropped by 1.29 per cent.
According to analysts from SHS Securities, the quick recovery suggests that the market may experience some fluctuations around the 1,260-point level.
However, the 1,250-point zone is expected to provide continued support in the near term, potentially helping the market to test supply around the 1,270-point range. Therefore, investors are advised to monitor the market's short-term recovery potential while considering this rally as an opportunity to adjust portfolios and mitigate risk.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher, rising by 0.28 per cent to 232.95 points.
During the session, nearly VNĐ1.1 trillion worth of shares, equivalent to a trading volume of over 65.8 million shares, were traded on the northern market.
Foreign investors continued their net buying streak, with net purchases amounting to VNĐ312.27 billion on HoSE.
