Friday, December 13, 2019 5:39:35 PM - Markets open
VN-INDEX 966.18 -1.99/-0.21%
HNX-INDEX 102.94 +0.23/+0.22%
UPCOM-INDEX 55.73 +0.21/+0.39%
VN-Index rises despite selling pressure
Vietnam News - 5/17/2019 12:59:39 PM
 (0 ratings. You must sign in to rate.)
High selling pressure during the final minutes of trading limited gains, but the benchmark VN-Index still managed its rally thanks to the performance of some large-cap stocks.
 
On the Hồ Chí Minh Stock Exchange, the VN-Index inched up 0.01 per cent to 975.69 points.
 
Liquidity was modest with 170 million shares worth a combined VNĐ3.9 trillion (US$165 million) traded on the southern bourse.
 
The VN-Index gained 1.07 per cent on Wednesday to end the day at 975.64 points.
 
Fourteen of the 30 largest shares by market capitalisation on the Hồ Chí Minh Stock Exchange lost value while 10 increased.
 
Securities, mining, banking, construction and construction materials were among the worst-performing industries, but their indices still managed to rise by between 0.3 and 0.6 per cent, data on vietstock.vn showed.
 
On the positive side, some large-cap stocks such as Vinhomes (VHM), Vingroup (VIC), Vinamilk (VNM), The Cotec Construction Joint Stock Company (Coteccons or CTD) and Petro Vietnam Gas JSC (GAS) maintained good movement and contributed to the uptrend.
 
VHM increased by 1.2 per cent and VIC increased by 1.4 per cent.
 
On the Hà Nội Stock Exchange, the HNX-Index edged down 0.32 to 106.09 points on Thursday.
 
Around 30.4 million shares were traded on the northern bourse, worth VNĐ430 billion.
 
The index rose 0.7 per cent the previous day to close Wednesday at 106.43 points.
 
On Thursday, foreign investors net-sold VNĐ130.54 billion on the HOSE, focusing on Vinhomes (VHM) (VNĐ37.2 billion), Vincom Retail (VRE) (VNĐ15.8 billion) and Hòa Phát Group HPG (VNĐ15.3 billion). They bought a net value of VNĐ42.93 billion on the HNX.
 
According to Bảo Việt Securities Company, the VN-Index is expected to post gains in the last session of the week. The index is likely to head towards the resistance zone of 980-983 points in the next several sessions.
 
“This zone will determine market’s ability to prolong the recovery trend in the short term," BVSC wrote in its daily report. "The market may experience choppy trading and adjusting pressure especially when foreign investors maintain a net selling trend. We leave open the possibility that market’s recent gains are only technical."
 
Stock exposure, therefore, should be limited at 45 per cent of the portfolio at most. Investors could partly sell stocks that have posted strong increases in recent sessions. Investors should not chase stocks at high prices and only buy at stocks’ support zone in market’s correction, BVSC said. — VNS
 
 
Read original article here
 
Newer News
12/12 Bank stocks push market up
11/12 Shares slide as selling force rises
09/12 VN stocks to head up in December, trade war concerns expected
06/12 VN stocks step down as confidence fades on lack of news
04/12 VN stocks decline for a second day
03/12 VN stocks suffer a sudden drop in the afternoon
02/12 Bottom fishing may push shares up slightly
29/11 Shares drop after two-day rise
28/11 Shares gain but selling pressure still high
27/11 Billions of shares pending for HoSE listing
Older News
16/05 VN-Index rises for third straight day
14/05 VN-Index ends in green on week’s first trading day
14/05 Hanoi Stock Exchange delists companies
13/05 VN stocks expected to decline, hopes rest on banks
13/05 Securities trading codes issued for more than 350 foreign investors in April
10/05 Derivatives market sees liquidity slump in April
09/05 VN stocks expand losses for 5th day
08/05 Stock market sees positive growth in Q1
06/05 VN stocks plummet, insurance stocks hit hard
04/05 Purchases dominate foreign investors’ transactions on UPCoM in April
 
Newsletter Signup
Top Stories
Vietnam facilitates trade with Russian firms: Deputy PM
Reference exchange rate down 4 VND on December 10
Reference exchange rate down 3 VND on December 6
Vietnam’s economy stays positive amid global growth slowdown: PM
Vietnam attracts 31.8 billion USD in FDI in 11 months
Market Update
Last updated at 3:10:01 PM
VN-INDEX 966.18 -1.99/-0.21%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.