Wednesday, July 8, 2020 10:07:44 PM - Markets open
VN-INDEX 864.50 +1.08/+0.13%
HNX-INDEX 114.37 +0.66/+0.58%
UPCOM-INDEX 56.78 +0.42/+0.75%
Share rally narrows in afternoon trade
Vietnam News - 6/11/2019 12:58:11 PM
 (0 ratings. You must sign in to rate.)
Vietnamese markets had a good start on Monday thanks to the performance of large-cap stocks but momentum narrowed in the afternoon.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 0.48 per cent to close at 962.90 points.
On the southern exchange, 158 stocks advanced while 132 declined.
Nearly 155 million shares were traded on the bourse, worth VNĐ3.8 trillion (US$164 million).
The benchmark index lost 0.17 per cent last week.
Insurance, stock brokerages, real estate, petroleum and mining, retail and technology were among the best-performing sectors in the morning session.
Those sector indices gained between 0.36 per cent and 0.76 per cent, data on showed.
In the morning, the VN-Index increased with the buying force focused on blue-chips such as Vietcombank (VCB), Vingroup (VIC) and PetroVietnam Gas JSC (GAS). In the afternoon session, the gaining trend in the morning session was narrowed because the selling force continued to increase in Vinhomes (VHM), Techcombank (TCB) and the European Investment Bank (EIB).
The large-cap VN30-Index was up 0.34 per cent to end at 872.49 points with 18 of the 30 largest stocks by market value and trading liquidity progressing.
On the Hà Nội Stock Exchange, the HNX-Index dropped 0.20 per cent to end at 103.99 points.
The northern market index fell a total of 0.13 per cent last week.
More than 20.7 million shares were traded on the northern market, worth VNĐ243 billion.
Foreign investors today bought a net VNĐ174.51 billion on HOSE, focusing on Vingroup (VIC) (VNĐ54.14 billion), Vietcombank (VCB) (VNĐ19.4 billion) and PetroVietnam Power Corporation (POW) (VNĐ18.3 billion). In addition, they bought a net VNĐ3.5 billion on the HNX.
According to Bảo Việt Securities Company (BVSC), the market is expected to face volatility and correction around the resistance zone of 965-968 points in several sessions.
“If successfully passing this zone, the next destination will be the support zone of 977- 983 points. This is a strong resistance zone and will challenge the market’s increase. Therefore, the market may face risk of decline in the aforementioned resistance zone,” it said.
Cashflow is rotating among stock groups with macro-economic benefits, including textiles, industrial zone real estate, electricity, and information technology, BVSC said
Bank stocks are heading toward resistance zones and might move sideways in the coming sessions. Oil and gas stocks are expected to incur volatility in their recovery, it added.
Investors can consider raising stock exposure to 30-40 per cent of the portfolio. Investors should hold off on buying stocks at high prices and might consider selling stocks in the resistance zone of 965-968 points. — VNS
Read original article here
Newer News
07/07 VN stocks advance as securities, banking and aviation industries rise
07/07 Corporate bond market to boom in second half
02/07 VN-Index rebounds, propped up by PMI data and interest cuts
01/07 VN stocks fall for sixth straight day
30/06 Shares plummet on GDP growth record low and surges in COVID-19 fatalities
29/06 July to be a hard month for Vietnamese shares
27/06 VN stocks end week lower on large-cap decline
26/06 VN stocks drop for a third day
18/06 Shares retreat on divergence of large-caps
18/06 Decree drafted to empower SSC to halt market trading
Older News
10/06 VN stocks forecast to move forward
07/06 VN stocks move higher following global good mood
06/06 VN stocks slow gains down on economic worries
05/06 Shares recover on bottom fishing
04/06 Trade war fears darken VN stocks
01/06 Shares fall for four consecutive sessions
30/05 VN shares mixed as world markets remain volatile
29/05 Markets fall after ETF reviews portfolio
28/05 VN markets mixed on continued trade worries
27/05 More purchases of small stocks this week: analysts
Newsletter Signup
Top Stories
Reference exchange rate remains unchanged
New traders flock to market
Reforms needed to attract foreign portfolio investment: fund manager
Reference exchange rate down 2 VND on June 4
Foreign Ministry: Vietnam recovers economy during, after COVID-19
Market Update
Last updated at 3:10:04 PM
VN-INDEX 864.50 +1.08/+0.13%
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...
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.