Market continues moving upward as foreign investors record strong net sales
Market continues moving upward as foreign investors record strong net sales
The stock market continued its upward trend on Tuesday, marking the VN-Index’s second consecutive gain, with a significant increase in liquidity.
An A321 aircraft of Vietnam Airlines takes off. The airline's stock hit a ceiling and led the market on Tuesday. — Photo courtesy of Vietnam Airlines |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 7.01 points, or 0.56 per cent, closing at 1,261.78 points.
Market breadth was positive, with 196 stocks advancing and 112 declining. Liquidity on the southern bourse improved significantly, reaching VNĐ18.8 trillion (nearly US$743 million), up 74 per cent from the previous session.
The VN30-Index, tracking the top 30 stocks by market capitalisation on HoSE, also rose by 7.43 points, or 0.56 per cent, to 1,335.76 points. Within the VN30 basket, 22 stocks advanced, seven declined and one remained unchanged.
Data from financial website vietstock.vn showed that Vietnam Airlines JSC (HVN) led the gains, with its shares hitting the ceiling at 6.8 per cent, contributing nearly 0.8 points to the VN-Index’s rise.
This was followed by gains for the HCM City Development Joint Stock Commercial Bank (HDB), which increased by 2.44 per cent, Hoa Phat Group JSC (HPG), up 1.12 per cent and Vietnam Rubber Group - Joint Stock Company (GVR), which rose by 1.38 per cent.
Certain sectors posted losses, creating slight downward pressure on the market, with decliners including Viet Nam Dairy Products Joint Stock Company (VNM) and Phat Dat Real Estate Development JSC (PDR).
Experts from Viet Dragon Securities noted: "The increased liquidity from the previous session indicates heightened supply pressure on the market. Supportive movements were observed near the 1,265-point level, though recovery momentum remains relatively weak. The market is expected to continue its downward momentum in the next trading session, testing the support range of 1,250 – 1,265 points. This range may provide good support for the market and assist in short-term technical recovery.
“Investors should monitor the supply-demand dynamics within this support range to assess the market’s condition. The current adjustment period may offer short-term buying opportunities at favourable prices for select stocks, however, it is prudent to consider recovery as an opportunity to restructure portfolios towards risk reduction.”
On the Hà Nội Stock Exchange, the HNX-Index also ended higher, rising by 0.43 per cent to 225.56 points. Throughout the session, more than 40 million shares were traded on the northern bourse, valued at over VNĐ633 billion.
Foreign investors extended their selling streak for a fourth consecutive session, with net sales reaching over VNĐ5.2 trillion on the HoSE.
