An investor examines trading at the VPBank Securities Trading Centre. — VNS Truong Vi

HA NOI (Biz Huib) — Securities shares are expected to lead the market this week following Decree 60 which allows foreign investors to increase their stakes in Vietnamese public listed companies, according to analysts.

Investors are being advised to maintain their shares at a safe number, focus on leading stocks and avoid over-investing during sessions where the stock market rises significantly.

Last week, the stock market fell as investors remained cautious, limiting the money flowing into the market and reducing liquidity.

Securities shares took the lead on both bourses while bank shares and gas shares had little influence after suffering from strong selling pressure.

HCM City Securities Corporation (HCM), Saigon Securities Incorporation (SSI), VNDirect Securities JSC (VND), Sai Gon-Ha Noi Securities JSC (SHS), IB Securities JSC (VIX) and Bao Viet Securities JSC (BVS) all made significant gains last week.

On the HCM City Stock Exchange (HOSE), the VN-Index lost 0.58 per cent to finish the week at 581.75 points, with 681.5 million shares traded worth VND11.4 trillion (US$528.3 million), a decrease of 4.16 per cent against the previous week.

The HNX-Index on the Ha Noi Stock Exchange (HNX) dropped 1.81 per cent to stand at 85.52 points with 264.5 million shares traded, worth VND3.16 trillion ($146.5 million), a fall of 16.9 per cent over the previous week.

The market started last week making gains on Monday, with blue chips such as Vietnam Dairy Products Joint Stock Company (VNM), Ma San Group (MSN), Petrovietnam Gas Corporation (GAS) and Vingroup Corporation (VIC) putting in strong performances.

However, the market dropped off after that until Friday when it was boosted by Decree 60 that allows foreign investors to increase their stakes in Vietnamese public listed companies.

As a result, liquidity on Friday rocketed on both markets. The southern bourse reached more than VND3 trillion ($145.7 million) while the north hit more than VND763 billion ($35.3 million) in trading value.

Gas shares were the major targets for foreign investors on the HNX. Petroleum Technical Services Corporation (PVS) received its highest foreign investment with VND24.3 billion ($1.12 million), while Petrovietnam Southern Gas JSC (PGS) received the most selling orders from foreign investors with VND6.3 billion ($289,400).

Foreign investors on the HOSE were net buyers in two sessions and net sellers in three sessions. They finished last week as net buyers with VND460 billion ($21.3 million), resulting in last week's total net buying value of VND36.3 billion ($1.68 million).

Sacombank (STB) received the most purchasing orders from foreign investors with VND98.9 billion ($4.57 million), while they sold off VND328 billion ($15.2 million) in Vingroup Corporation (VIC). — VNS