Indices recover despite low liquidity

Indices recover despite low liquidity

Market breadth on HoSE was slightly positive with 161 advancers versus 140 decliners, but total trading value fell sharply to just over VNĐ15.1 trillion (US$575.3 million), down about 15 per cent from the previous session.

A customer conducts a transaction at the LPBank office. The lender's shares soared over 4 per cent on Tuesday, supporting the market's bullish trend. — Photo lpbank.com.vn

Benchmark indices saw a mild recovery in a choppy session on Tuesday with persistently low liquidity, reflecting investor caution amid a lack of clear supporting information.

On the Hochiminh Stock Exchange (HoSE), the VN-Index closed up 2.55 points, or 0.15 per cent, at 1,677.54 points. 

Market breadth on HoSE was slightly positive with 161 advancers versus 140 decliners, but total trading value fell sharply to just over VNĐ15.1 trillion (US$575.3 million), down about 15 per cent from the previous session.

The 30 biggest stock trackers, VN30-Index, also increased 4.71 points, or 0.26 per cent, to 1,840.96 points. In the VN30 basket, 15 stocks ticked up while 13 went down and two stayed flat. 

Similarly, the HNX-Index on the Hanoi exchange (HNX) advanced 1.67 points, or 0.68 per cent, to 246.70. 

According to data from a financial website, vietstock.vn, Vingroup (VIC), was the biggest contributor to the market's recovery. Shares of the conglomerate rose by 1.27 per cent, adding 3 points to the VN-Index. 

It was followed by Fortune Vietnam Joint Stock Commercial Bank (LPB) with a gain of more than 4 per cent.

The most notable development was a late shift of cash into the securities sector. Brokerage firms experienced a concentrated burst of buying after mid-afternoon, in a session shadowed by geopolitical uncertainty in the Middle East that market participants say could affect risk appetite.

Notably, VIX Securities (VIX) posted an increase of 7 per cent, the maximum daily gain.

Other brokerage stocks also rallied strongly. SSI Securities (SSI) reversed an early decline to close more than 2 per cent higher. 

Ho Chi Minh City Securities (HCM) and Vietcap (VCI) rose by over 1 per cent and 3 per cent, respectively, while FPT Securities (FTS), Saigon - Hanoi Securities (SHS), BIDV Securities (BSI), Tien Phong Securities Corporation (ORS) and CSI Securities (CSI) all gained more than 3 per cent. 

In total, 23 securities firms rose by more than 1 per cent, reflecting broad-based late-session interest in the sector.

Nevertheless, gains were capped by lingering selling pressure, which was led by Vinhomes (VHM). Shares of the property developer dropped by 1.71 per cent.

The net selling trend from foreign investors also added pressure on the market. They net sold over VNĐ825.8 billion on HoSE. 

Bizhub