Selling pressure restrains momentum in Vietnam
Shares slightly increased on November 17 even as selling pressure pared the rise.
Shares slightly increased on November 17 even as selling pressure pared the rise.
The VN-Index at the Hochiminh Stock Exchange ended just 0.09 percent higher to 600.93 points. The value of transactions hit nearly 2 trillion VND (94.3 million USD), as trading volume reached 114.4 million shares.
The VN30 Index, which tracks 30 blue chips representing the largest stocks by capitalisation and liquidity, lost by 0.11 percent to 637.21 points.
Only two blue chips fell during the morning session, but the number increased to 10 as the session ended. Kinh Do Confectionery, in particular, slid down by 3.5 percent.
At the Hanoi Stock Exchange, the HNX-Index added 0.15 percent to 90.87 points on a total market value of 1.1 trillion VND (51.8 million USD). The northern market's blue chips pushed the HNX30 up by 0.34 percent to 185.11 points.
Foreign investors reduced their sale in HCM City to a net of 2 billion VND (94,300 USD) but increased their activities in Hanoi to 8.2 billion VND (386,700 USD).
Leading in liquidity were recent surging stocks such as retail group KLF Investment, property developer FLC and Quang Nam Rubber.
While speculative stocks recently demonstrated increasing strength, trading on blue chips was sluggish. "That's bad news," commented independent analyst Duy Hoang.
With minimal supportive information, trading will depend on each investor's taste, so speculative stocks will continue to rise, FPT Securities analysts predicted. Meanwhile, VNDirect Securities predicted sluggish trading but lower risks in future sessions.-VNA
The VN-Index at the Hochiminh Stock Exchange ended just 0.09 percent higher to 600.93 points. The value of transactions hit nearly 2 trillion VND (94.3 million USD), as trading volume reached 114.4 million shares.
The VN30 Index, which tracks 30 blue chips representing the largest stocks by capitalisation and liquidity, lost by 0.11 percent to 637.21 points.
Only two blue chips fell during the morning session, but the number increased to 10 as the session ended. Kinh Do Confectionery, in particular, slid down by 3.5 percent.
At the Hanoi Stock Exchange, the HNX-Index added 0.15 percent to 90.87 points on a total market value of 1.1 trillion VND (51.8 million USD). The northern market's blue chips pushed the HNX30 up by 0.34 percent to 185.11 points.
Foreign investors reduced their sale in HCM City to a net of 2 billion VND (94,300 USD) but increased their activities in Hanoi to 8.2 billion VND (386,700 USD).
Leading in liquidity were recent surging stocks such as retail group KLF Investment, property developer FLC and Quang Nam Rubber.
While speculative stocks recently demonstrated increasing strength, trading on blue chips was sluggish. "That's bad news," commented independent analyst Duy Hoang.
With minimal supportive information, trading will depend on each investor's taste, so speculative stocks will continue to rise, FPT Securities analysts predicted. Meanwhile, VNDirect Securities predicted sluggish trading but lower risks in future sessions.-VNA
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