Phuong Thao
MSN helped the market stay in the green for most of yesterday’s session but then weakened and managed a 0.6% rise at the end. The VN-Index ended down in the continuous matching session but moved up at the end of the day, buoyed by the rebounds of VNM and GAS.
Another notable stock was FLC, which reported the strongest trading volume of 11.3 million shares. The ticker also hit the ceiling price of VND8,600 a share after losing ground in the session earlier.
Liquidity on the southern bourse dropped 20.8% in volume and 33% value to 80.9 million shares worth VND1 trillion. Foreigners net sold around VND5 billion worth of shares on the exchange.
On the Hanoi market, in the absence of the exchange traded fund Van Eck Vietnam’s buying, which saw a creation of 100,000 shares on Monday, the HNX-Index only managed to close flat at 66.14. Foreigners net bought VND6.7 billion, with PVS shares accounting for two-thirds.
Viet Dragon Securities Company (VDSC) said stocks gained in early trade but quickly retreated and hovered around their reference levels. At the end, the VN-Index closed up, supported by gains of several large-cap stocks such as GAS, VNM and VIC. Meanwhile, the VN30 Index declined as over 20 tickers in this basket lost ground.
Liquidity and foreign trading dropped significantly on the southern bourse but sentiment was still stable. The market is still fluctuating within a narrow range, so a suitable short-term investment strategy is taking profit when share prices reach the expected levels, it said.
Earlier, VDSC in the December investment strategy report said the market would continue moving sideways until nearly the end of the month. The VN-Index may move in the range of 500 and 530 points while the HNX-Index may oscillate from 63 to 68 points.
Investors should pick up stocks with possible good business results, especially those of construction and real estate firms which usually report gains at year-end or those in food and consumer goods sectors with active seasonal business activities. In addition, leading enterprises with good business results may attract huge foreign capital flows, VDSC said.
“However, the economy and the market may not perform as well as expected. If the Government still needs more time to consider the draft of a regulation on foreign ownership limit, foreign capital inflows may not be as high as expected. Therefore, the VN-Index may not touch the 530-point level as we have forecast,” the brokerage added.
Đăng ký: VietNam News
