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Market edges up as foreign bloc continues to net buy
vietnamnews - 8/14/2024 9:46:18 AM
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The market continues its recovery as the VN-Index marks its third consecutive day of gains.
 
 
At a Vietcombank transaction office in Hanoi City. The bank's shares led the entire market on Tuesday. — VNA/VNS Photo
 
Shares rose slightly for a third consecutive day on the Ho Chi Minh Stock Exchange (HoSE) on Tuesday, with the rally taking place in the final minutes of trading, thanks to the recovery of some large-cap stocks while foreign investors continued their net buying streak for the third day.
 
The VN-Index on HoSE increased by 0.14 points, or 0.01 per cent, closing the session at 1,230.42 points.
 
The market's breadth was negative, as the number of decliners outnumbered gainers by 178 to 125. Liquidity on the southern bourse remained low at VNĐ13 trillion (US$514.7 million), corresponding to a trading volume of 539 million shares.
 
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, declined by 2.72 points, or 0.21 per cent, to 1,268.72 points. Nine stocks in the VN30 basket advanced, sixteen declined and five remained flat.
 
Leading the market's uptrend were key stocks in the banking sector.
 
According to data from the financial website vietstock.vn, the Bank for Foreign Trade of Vietnam (VCB) was the biggest gainer, leading the market in capitalisation. Shares of VCB rose by 1.94 per cent, contributing nearly 1.8 points to the VN-Index.
 
Vinamilk (VNM) followed with its shares rising by 1.1 per cent, while Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) increased by 0.47 per cent. Nam Á Commercial Joint Stock Bank (NAB) surged to its ceiling price, rising 6.93 per cent and Vietnam Airlines JSC (HVN) climbed by 2.46 per cent.
 
However, some large-cap stocks faced significant selling pressure, limiting the market's gains. Hòa Phát Group JSC (HPG) saw a decline of 1.74 per cent, PetroVietnam Gas Joint Stock Corporation (GAS) dropped by 1.21 per cent, and Vinhomes JSC (VHM) fell by 0.41 per cent.
 
According to stock analysts from Viet Dragon Securities, the market made efforts to continue its upward trend after surpassing the 1,220-point resistance level in the previous session. Liquidity decreased compared to the prior session, indicating that supply temporarily remained low and did not put pressure on the market. However, overall, the supporting cash flow remains cautious as the market rises, with the current momentum driven by reduced supply pressure. The next resistance level to watch is around 1,240 points, which is expected to exert significant selling pressure on the market. Therefore, investors might anticipate a recovery in the market but should remain cautious and avoid chasing rising prices.
 
On the Hà Nội Stock Exchange (HNX), the HNX-Index finished slightly lower on Thursday, decreasing by 0.26 per cent to 230.18 points.
 
During the session, more than VNĐ971 billion worth of shares, equivalent to a trading volume of over 46 million shares, were transacted on the northern market.
 
Conversely, foreign investors extended their net buying spree, purchasing over VNĐ323 billion on the HoSE. — VNS
 
Read original article here
Newer News
10:05 Market ends flat on rising selling force
21/11 Vinhomes acquires 190M shares, exceeds half of registered total
21/11 Foreign Investors set record in sell-off on HoSE
20/11 Market falls for fourth straight session as foreign bloc intensifies net selling
19/11 Market opens the week with slight decline as foreign investors net sell over VNĐ1.4 trillion
18/11 Market rocked by pressure from exchange rates and interest rates
15/11 Market experiences sharp pullback as VN-Index nears 1,230 points
15/11 Seaport stocks surge amid positive sector outlook
14/11 Easing monetary policy continues bolstering domestic stock market
14/11 Market struggles as foreign investors continue net selling
Older News
13/08 Bank bond issuance soars 140% amid debt crisis
13/08 Market continues recovery into new week
08/08 Surge in new individual securities accounts in July
08/08 Vinhomes to buy back 370m shares to protect investor's interest
07/08 Vietnam and Australia boost securities industry partnership
07/08 Market rebounds, VN-Index returns to 1,200 points
06/08 HoSE adds NVL to coming large-cap VN30 review
05/08 The market requires a prolonged period to reach stability.
03/08 Foreign investors end five-month net buying streak in July on HNX
02/08 Market suffers strong selling pressure while foreign investors return to net buying
 
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