Markets gain despite falling liquidity
Shares rebounded on October 29 although liquidity declined
significantly, with foreign investors narrowing their scale of buying.
Shares rebounded on October 29 although liquidity declined
significantly, with foreign investors narrowing their scale of buying.
On the Ho Chi Minh City Stock Exchange, the VN-Index added 0.12 percent to rise to 497.08 points, while gainers outnumbered losers by 139-82.
The total value of trades dropped around 33 percent from the October 28 level to 909.8 billion VND (42.9 million USD), while the trading volume reached more than 57.8 million shares.
The VN30, composed of the bourse's 30 leading shares, edged up 0.04 percent to rise to 556.15 points, buoyed by the rally of 19 blue chips. Insurer Bao Viet Holdings (BVH) rose 1.8 percent, while logistic company Gemadept (GMD), Vinh Son-Song Hinh Hydropower (VSH) and PetroVietnam Transportation (PVT) advanced between 2-2.2 percent.
On the Hanoi Stock Exchange, the HNX-Index also increased 0.15 percent, closing the session at 61.50 points.
Liquidity declined 30.5 percent compared with the previous session, with only 20.6 million shares worth 168 billion VND (7.9 million USD) exchanged.
The HNX30, representing the performance of 30 largest stocks by capitalisation and liquidity, ended 0.47 percent higher to 114.76 points.
Foreign investors concluded the day as net buyers, picking a combined margin of 18.9 billion VND (891,500 USD).
They favoured shares with Tu Liem Urban Development (NTL), Becamex Infrastructure Development (IJC), Pha Lai Thermalpower (PPC) and steel group Hoa Phat (HPG).
Volatility was minimal during the October 29 session, said FPT Securities Co analysts. "Selling pressure arose at some trading minutes but was not strong enough to dip the market down."
However, trading on blue chips weakened, they added, and foreign investors narrowed their scale of buying, leading to cautious domestic trading.
The market needs another correction to form a new price level for a future increase, they said. Therefore, investors were advised to invest in stocks which had not significantly increased.-VNA
On the Ho Chi Minh City Stock Exchange, the VN-Index added 0.12 percent to rise to 497.08 points, while gainers outnumbered losers by 139-82.
The total value of trades dropped around 33 percent from the October 28 level to 909.8 billion VND (42.9 million USD), while the trading volume reached more than 57.8 million shares.
The VN30, composed of the bourse's 30 leading shares, edged up 0.04 percent to rise to 556.15 points, buoyed by the rally of 19 blue chips. Insurer Bao Viet Holdings (BVH) rose 1.8 percent, while logistic company Gemadept (GMD), Vinh Son-Song Hinh Hydropower (VSH) and PetroVietnam Transportation (PVT) advanced between 2-2.2 percent.
On the Hanoi Stock Exchange, the HNX-Index also increased 0.15 percent, closing the session at 61.50 points.
Liquidity declined 30.5 percent compared with the previous session, with only 20.6 million shares worth 168 billion VND (7.9 million USD) exchanged.
The HNX30, representing the performance of 30 largest stocks by capitalisation and liquidity, ended 0.47 percent higher to 114.76 points.
Foreign investors concluded the day as net buyers, picking a combined margin of 18.9 billion VND (891,500 USD).
They favoured shares with Tu Liem Urban Development (NTL), Becamex Infrastructure Development (IJC), Pha Lai Thermalpower (PPC) and steel group Hoa Phat (HPG).
Volatility was minimal during the October 29 session, said FPT Securities Co analysts. "Selling pressure arose at some trading minutes but was not strong enough to dip the market down."
However, trading on blue chips weakened, they added, and foreign investors narrowed their scale of buying, leading to cautious domestic trading.
The market needs another correction to form a new price level for a future increase, they said. Therefore, investors were advised to invest in stocks which had not significantly increased.-VNA
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