Phuong Thao
Last Friday, profit taking was apparent on mid and small caps on the southern bourse. However, heavyweights GAS, MSN, VNM and VCB still lifted the VN-Index to the green, gaining 0.3% against the previous session.
The northern index also finished off in the winning territory but it gained much smaller, at only 0.1%. Foreign investors continued to stay on the buying side on both bourses with total net purchase value of VND60 billion.
Closing the week, the VN-Index and HNX-Index surged around 2% to 486.61 and 60.4 points respectively. Trading volume of the two exchanges averaged out at 77 million shares each day, a 5% increase against the previous week.
As exchange traded funds had finished portfolio rebalancing, foreign trading turned normal on both bourses. The investors posted up total net buying value of VND109 billion during the week, only a-third of the previous week’s value.
Viet Dragon Securities Company said that the market was rather positive last week with four rising sessions and high liquidity. Besides, investors’ sentiment also improved though there was differentiation between stocks.
As the macro economy is expected to release more good news this week, both markets may see some rising sessions with the VN-Index moving from 480 to 490 points. Meanwhile, the HNX-Index may hover between 59 to 62 points this week.
Vietcombank Securities Company (VCBS) said high and stable liquidity last week indicated the return of cash flows to Vietnam’s stock market, especially into tickers benefiting from the Government’s policies. For example, tickers of the construction and real estate sector received support from the Ministry of Construction’s draft on extending the duration of property ownership by 20 years to 70 years.
In addition, the Autumn Economic Forum organized in Hue City provided important news which might boost the market’s recovery in coming sessions.
VCBS said that the slight decrease on the southern bourse on Thursday was a technical correction necessary to consolidate the newly-established gaining momentum and, therefore, not worth worrying. The market would be likely to keep advancing if receiving positive business results from listed enterprises by the end of September and the beginning of October.
“Therefore, we retain our recommendation that investors could gradually add in tickers of possible optimistic business results of the third quarter,” the broker added.
Đăng ký: VietNam News