Market ends week with slight dip
Market ends week with slight dip
The stock market closed the week with a slight decline, marking four out of five sessions of losses for the week, while foreign investors continued their selling streak for a sixth consecutive session.
Customers conduct transactions at VPBank's headquarters in Hà Nội. VPBank's shares (VPB) led the decliners on Friday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,285.46 points, down 1.06 points or 0.08 per cent.
Market breadth on the southern bourse was negative, with 182 stocks declining, 121 advancing and 61 remaining unchanged. Liquidity slightly decreased to VNĐ15.3 trillion (US$606.3 million).
The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, also fell by 0.2 points, or 0.01 per cent, to close at 1,362.69 points. Within the VN30 basket, 13 stocks declined, 12 advanced and five remained unchanged.
The market’s decline was driven by large-cap stocks in the financial and manufacturing sectors, with Vietnam Prosperity Joint Stock Commercial Bank (VPB) seeing the steepest drop, falling 1.67 per cent and contributing nearly 0.7 points to the VN-Index's overall decrease.
This was followed by losses from Hòa Phát Group JSC (HPG), down 1.1 per cent and Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG), which fell 0.82 per cent.
However, some key stocks helped to offset the market’s losses, led by Sai Gon Thuong Tin Commercial Joint Stock Bank (STB), which rose 2.75 per cent, contributing nearly 0.45 points to the VN-Index.
Finance experts from Việt Dragon Securities noted: "Liquidity remains at a good level, indicating an improvement in cash flow and efforts to support the market. The current support signals may help the market test supply around the 1,290 – 1,300-point range in the near term. However, selling pressure at this level is expected to remain high, potentially leading to volatility.
"Therefore, investors should monitor supply and demand dynamics around resistance levels to assess the market's condition. It is advisable to prioritise stocks showing strong cash flow signals from support bases, while still considering opportunities to restructure portfolios during rebounds to mitigate risks."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed lower on Friday, dropping 0.4 per cent to 229.21 points.
During the session, nearly VNĐ1.1 trillion worth of shares were traded, with a total trading volume of over 66 million shares on the northern market.
Foreign investors extended their net selling streak, with net sales amounting to over VNĐ157 billion on the HoSE.
