Shares up on few blue chip gains hinh anh 1Shares bounced back on May 26 thanks to the growth of a few leading large-cap stocks, but the market is exposed to risk of a downward correction following a prolonged rally. (Source: Photo thanhnien.vn) 
Hanoi (VNA) - Shares bounced back May 26 thanks to the growth of a few leading large-cap stocks, but the market is exposed to risk of a downward correction following a prolonged rally.

The benchmark VN-Index on the HCM Stock Exchange edged up 0.2 percent to close at 743.41 points.

On the Hanoi Stock Exchange, the HNX-Index was up 0.23 percent to end at 93.69 points.

Bank stocks, which had fueled market momentum during the week, were mixed May 26.

Four out of nine listed lenders advanced while another four declined. Big banks BIDV (BID) and Military Bank (MBB) were losers while Vietcombank (VCB), Asia Commercial Bank (ACB) and Eximbank (EIB) were gainers.

Shares of Hau Giang Pharmaceutical (DHG) rose by more than 6 percent as shareholders of the pharmaceutical firm received bonus shares at a rate of 50 percent.

Among the top 30 shares by market value and liquidity, growth of Vinamilk (VNM), real estate VinGroup (VIC), steelmaker Hoa Sen Group (HSG) and insurer Bao Viet Holdings (BVH) supported the market.

A portion of money inflows shifted to mineral mining shares May 26, lifting prices of these companies.

Construction Investment Corporation 3-2 (C32), Binh Thuan Mineral Industry (KSA) and KSH Investment & Development (KSH) hit the maximum daily rise of 7 percent on the HCM Stock Exchange. Others such as Binh Duong Mineral & Construction (KSB) and Hoa An Co (DHA) increased 4.7 percent and 6.4 percent, respectively.

On the defensive side, energy and oil stocks slumped with big names including PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), Kinh Bac City Development (KBC), Tan Tao Investment Industry (ITA) and Dat Xanh Real Estate Service & Construction (DXG).

Liquidity declined with a total of 250 million shares, worth over 5 trillion VND (220.3 million USD), traded on the two markets, down 9 percent in volume and 14.3 percent in value compared to the figures on May 25.

Declining liquidity (the lowest for the week) along with neutral market breadth indicated rising investor caution, analysts at BIDV Securities Co wrote in a note.

“On the market capitalisation figures, cash flows were channeled into small- and medium-cap shares, showing that the market is in the value accumulation stage to break the resistance threshold of 745 points,” they said.

Foreign investors returned as net buyers on the two markets, picking up shares worth a combined net value of 189 billion VND. – VNA
VNA