Shares mixed on investor caution ahead of New Year holiday
HÀ NỘI – Shares moved in opposite directions on the two national stock exchanges on Monday, with low liquidity demonstrating investor caution ahead of the New Year holiday.
On the Hồ Chí Minh Stock Exchange, the VN-Index remained above the threshold for the afternoon session and ended the day at 九 六 五.0 三 points, up 0. 一 六 per cent over Friday. The southern market index increased 0. 五 per cent last week.
Banks continued as the market supporter with many big lenders in the VN 三0 basket (which tracks the top 三0 largest shares by market value and liquidity) rising. Vietinbank (CTG), Vietcombank (VCB) and Techcombank (TCB) increased by more than 一 per cent.
Other big gainers included Vincom Retail (VRE), Vinhomes (VHM), FPT Corp (FPT), insurer Bảo Việt Holdings (BVH), Refrigeration Electrical Engineering (REE) and property developer Novaland Investment (NVL) gained between 一- 三 per cent each.
On the negative side, some large caps such as Vinamilk (VNM), Vingroup (VIC), brewer Sabeco (SAB), PV Gas (GAS), the Bank for Investment and Development of Vietnam (BID) bucked the trend and declined, weighing on the market.
Liquidity continued to drop with just 一 七 八 million shares worth VNĐ 三. 八 trillion (roughly US$ 一 六 四 million) traded, down around 二0 per cent in both volume and value compared to Friday’s figures.
“The market will continuously experience a wild divergence among stock sectors, it could fluctuate due to funds’ net asset value closing during the first two sessions next week,” Trần Xuân Bách, a stock analyst at Bảo Việt Securities, wrote in a daily report.
“We expect that blue-chip stocks will increase early next year with signs of improvements in cash flow,” Bách said, forecasting the VN-Index would fluctuate between 九 五 九- 九 六 一 points and 九 六 九- 九 七 一 points over several sessions.
According to BIDV Securities Co, the highlight continued to be net buying from foreign investors on the Hồ Chí Minh Stock Exchange.
The foreign sector bought a net value of more than VNĐ 七 三 billion on Monday, rising 八 三 per cent over Friday’s value.
However, the analysts predicted the market will see little change this week as the year-end is nearing.
On the Hà Nội Stock Exchange, the HNX-Index dropped 0. 四 三 per cent on Monday to close at 一0 二. 一 六 points. Liquidity here was also low with more than 四0 million shares worth VNĐ 九00 billion ($ 三 九 million) exchanged.
Foreign investors were net sellers on the northern bourse for a modest value of VNĐ 九 六 四 million. — VNS
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