Heavy profit-taking pressure put a brake on the recent winning stretch for Việt Nam’s stock market on Monday while oil shares bucked the trend, driven by rising prices in the world market.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 1.38 per cent to end at 876.46 points, extending its rally to a fifth day with total growth of 4.04 per cent.
The HNX Index on the Ha Noi Stock Exchange advanced 1 per cent the same day to finish last week at 111.62 points, making an increase of 3.33 per cent week on week.
Vietnamese shares struggled to stay positive for a fourth day on both
local exchanges as property firms made gains on the central bank''s
proposal to extend the housing stimulus package.
Vietnamese shares slid further on both local exchanges as investor
confidence in financial firms remained low, following the US central
bank''s announcement on Thursday.
Vietnamese shares may continue rallying this week, as positive
first-quarter performances and higher oil prices might prove to increase
investor confidence.
Vietnamese stocks may fall further this week as investor confidence
s on declining oil prices and markets receive no positive news from
the listed companies, brokerage firms wrote in their weekly forecast.
Vietnamese shares were mixed on the two local exchanges yesterday, while
the benchmark VN Index declined for a third session on lower investor
confidence.
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.