Shares slide but future positive
Shares failed to retain earlier gains on June 10 on the HCM City Stock Exchange.
Shares failed to retain earlier gains on June 10 on the HCM City Stock Exchange.
The VN-Index lost 0.65 percent to 524.56 points. The VN30, tracking the southern bourse's 30 largest shares, also shed 0.7 percent to 584.11 points.
Nearly two-thirds of blue chips tumbled, with logistic firm Gemadept (GMD), Phu My Fertiliser (DPM) and private equity group Masan (MSN) retreating the most, between 1.8-3.6 percent.
Meanwhile, PetroVietnam Drilling Services (PVD) added 5.6 percent, rubber company Casumina (CSM) climbed 4 percent, and Vinamilk (VNM) rose 1.5 percent.
Total market value hit 1.66 trillion VND (79 million USD) on a volume of nearly 94.2 million shares.
With the June 10 decline, FPT Securities Co analysts predicted the VN-Index would come close to dropping to the 520 point level.
"However, technical indicators still support an increasing trend for the index," they wrote on the company's website.
High liquidity showed that cash flow remained in the market, they added, stressing, "the current challenge is the selling trend of foreign investors".
In recent trading days, foreign funds were net sellers, giving up high value stocks such as insurer Bao Viet (BVH) and property developers Hoang Anh Gia Lai (HAG) and Vingroup (VIC).
"The short-term prospective is quite challenging, but positive in the medium term and long term," the analysts said.
Foreign net sellers concluded on June 10 with a combined margin of over 126.7 billion VND (6 million USD) on both exchanges.
On the Hanoi Stock Exchange, the HNX-Index closed the June 10 session at 65.60 points, a 0.03 percent increase.
Trading value rose slightly over the June 7 session to 479 billion VND (22.8 million USD) as 52.8 million shares changed hands.
The HNX30, however, slid 0.05 percent to reach 126.46 points. The advance of eight blue chips in Hanoi could not beat the tumble of 14 other stocks tracked by the index.-VNA
The VN-Index lost 0.65 percent to 524.56 points. The VN30, tracking the southern bourse's 30 largest shares, also shed 0.7 percent to 584.11 points.
Nearly two-thirds of blue chips tumbled, with logistic firm Gemadept (GMD), Phu My Fertiliser (DPM) and private equity group Masan (MSN) retreating the most, between 1.8-3.6 percent.
Meanwhile, PetroVietnam Drilling Services (PVD) added 5.6 percent, rubber company Casumina (CSM) climbed 4 percent, and Vinamilk (VNM) rose 1.5 percent.
Total market value hit 1.66 trillion VND (79 million USD) on a volume of nearly 94.2 million shares.
With the June 10 decline, FPT Securities Co analysts predicted the VN-Index would come close to dropping to the 520 point level.
"However, technical indicators still support an increasing trend for the index," they wrote on the company's website.
High liquidity showed that cash flow remained in the market, they added, stressing, "the current challenge is the selling trend of foreign investors".
In recent trading days, foreign funds were net sellers, giving up high value stocks such as insurer Bao Viet (BVH) and property developers Hoang Anh Gia Lai (HAG) and Vingroup (VIC).
"The short-term prospective is quite challenging, but positive in the medium term and long term," the analysts said.
Foreign net sellers concluded on June 10 with a combined margin of over 126.7 billion VND (6 million USD) on both exchanges.
On the Hanoi Stock Exchange, the HNX-Index closed the June 10 session at 65.60 points, a 0.03 percent increase.
Trading value rose slightly over the June 7 session to 479 billion VND (22.8 million USD) as 52.8 million shares changed hands.
The HNX30, however, slid 0.05 percent to reach 126.46 points. The advance of eight blue chips in Hanoi could not beat the tumble of 14 other stocks tracked by the index.-VNA
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