Wednesday, November 6, 2024 10:24:13 AM - Markets open
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Market breaks losing streak as liquidity plunges
vietnamnews - 11/6/2024 8:20:16 AM
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On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose slightly by 1.05 points, or 0.08 per cent, closing at 1,245.76 points.
 
 
A Boeing 787 Dreamliner of Vietnam Airlines at Noi Bai Airport, Ha Noi. The HVN stock of the national carrier led the market on Tuesday. — Photo courtesy of Vietnam Airlines
 
The stock market ended two days of losses on Tuesday, though liquidity saw a sharp decline, while foreign investors continued their nine-day net selling streak.
 
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose slightly by 1.05 points, or 0.08 per cent, closing at 1,245.76 points.
 
Market breadth was positive, with 161 stocks advancing and 138 declining. Liquidity on the southern bourse fell significantly, reaching VNĐ10.9 trillion (nearly US$429.37 million), marking a 31 per cent decrease compared to the previous session.
 
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, also edged up by 0.71 points, or 0.05 per cent, to 1,313.35 points. Eleven stocks in the VN30 basket rose, nine declined and ten remained unchanged.
 
Data compiled by financial website vietstock.vn showed that Vietnam Airlines JSC (HVN) led the gains, with its shares rising by nearly 5.6 per cent, contributing over 0.68 points to the VN-Index's growth.
 
This was followed by gains from Vietnam Rubber Group - Joint Stock Company (GVR), up 1.74 per cent, Hoa Phat Group JSC (HPG), rising 0.76 per cent and Vietnam Commercial Joint Stock Export Import Bank (EIB), which increased by 3.21 per cent.
 
Several sectors experienced losses, applying slight pressure on the market. Decliners included Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG), the Bank for Investment and Development of Vietnam (BID) and the Southeast Asia Commercial Joint Stock Bank (SSB).
 
Experts from Viet Dragon Securities noted: “The decline in liquidity compared to the previous session indicates that supply pressure has temporarily eased, relieving stress on the market. The recovery movement at the end of the session may support a near-term rebound.
 
"However, this recovery might be technical in nature, facing resistance around 1,265 points, given limited supportive cash flow. The risk of market retreat from this resistance zone remains.
 
“Thus, investors should monitor supply-demand dynamics and maintain a balanced portfolio, avoiding overbuying. Temporary recovery phases should be used to restructure portfolios toward reducing risk.”
 
On the Ha Noi Stock Exchange, the HNX-Index also closed higher, gaining 0.18 per cent to reach 224.86 points. During the session, over 45 million shares changed hands on the northern bourse, valued at more than VNĐ765 billion.
 
Foreign investors continued their net selling streak for a ninth consecutive session, with net sales amounting to over VNĐ853 billion on the HoSE. — VNS
 
Read original article here
Older News
05/11 Vietnam's stock market moves closer to emerging market status amid key policy changes
04/11 Vietnam stock market opens the week with a downturn as foreign investors continue net selling
04/11 Opportunities and challenges in a transitional phase
01/11 Eyeing the stock market post the US presidential election
30/10 Market continues moving upward as foreign investors record strong net sales
29/10 HOSE delists Sao Thai Dương (SJF) shares from 1 November
29/10 Market begins the week on a positive note
28/10 Caution prevails in market amid rising selling pressure
28/10 Securities clearing regulation amendment proposed
25/10 Market in sharp decline as investors resume strong net selling
 
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