Market closes week on a positive note
Liquidity declined from the previous session, while foreign investors returned to be net buyers on the southern market.
The Vietnamese stock market edged higher on Friday but liquidity declined from the previous trade, while foreign investors returned to be net buyers on the southern market.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 5.55 points, or 0.44 per cent, to 1,258.28 points. A correction signal appeared on Thursday after the benchmark index surpassed the 1,250 point-level.
Experts from Saigon- Hanoi Securities SJC (SHS) warned short-term investors to be cautious at the current phase as the VN-Index is moving at an area in which both short-term and mid-term risks are increasing.
On the southern exchange, breadth of the market was positive with 214 ticker symbols rising while 106 ticked down. Liquidity declined to over VNĐ 23.7 trillion (US$962.5 million) today, after reaching over $1 trillion on the previous session.
The 30 biggest stocks trackers VN30-Index on HoSE also inched higher at 1,267.07 points. Nineteen stocks in the VN30 basket closed higher, seven subdued and four ended flat.
On the Hà Nội Stock Exchange (HNX), the HNX-Index extended rallies to the second straight day. It rose 0.97 points, or 0.41 per cent, to 236.43 points.
Data showed that BIDV (BID) was the uptrend's biggest contributor on Friday, with the lender's shares up 0.94 per cent. The gain recouped its loss of 1.67 per cent set on the previous session.
It was followed by Vinhomes (VHM), FPT Corporation (FPT), Vietnam Rubber Group (GVR) and Phú Nhuận Jewelry (PNJ). All the stocks soared in a range of 1.27-5.86 per cent.
Vietcombank (VCB), one of the market's key leaders, was stable but its influence was remarkable. It was the cause for the VN-Index's downturn in the morning session while also a supporter for the index's recovery today.
The VN-Index dropped nearly 5 points early in the afternoon session, its biggest fall today, after VCB slumped 2.47 per cent. The bank's shares rebounded to its reference price later, helping the benchmark to recover in the last trading minutes.
Meanwhile, foreign investors returned to the market as they net bought over VNĐ194 billion on the two main exchanges. Of which, they net bought nearly VNĐ198.44 billion on HoSE but net sold VNĐ4.35billion on HNX. — VNS
