Strong money inflows helped to sustain the market uptrend last week inspite of an increase in profit-taking pressure following a long rally.
Onthe Hochiminh Stock Exchange, the VN-Index slowed the weekly gain tojust 0.39 percent to close September 5 session at 638.65 points.
Meanwhile,heavy profit-taking on blue chips like PV Gas (GAS), Masan Group (MSN)and VinGroup (VIC) restrained the growth of the VN30, which tracks thetop 30 shares by market value and liquidity, to just 0.12 percent to endat 677.62 points.
Growing confidence in the prospect of along-term uptrend helped keep liquidity at a high level. Nearly 177million shares averaging 3.22 trillion VND (152.6 million USD) persession were traded on the HCM City market, representing a 6 percentincrease over that of last week.
Active buying by foreigninvestors and securities companies also contributed to the marketmomentum. Securities companies returned to net buying last week aftertwo net selling weeks, picking shares worth a combined 37 billion VND(1.8 million USD).
Meanwhile, foreigners were responsible for atotal net buy value of 248 billion VND (nearly 12 million USD),excluding a net sell value of 214.8 billion VND, or 10.2 million USD, onVIC shares.
Foreign trading is expected to be passionate thismonth following the portfolio restructuring of exchange-traded funds(ETFs). A series of conferences on foreign investment opportunitieswhich securities firms organised also attracted the market's attention.
FTSE Vietnam ETF, which Deutsche Bank is managing, announced on September 5 its portfolio review in September.
Inline with this, Kinh Do Corporation (KDC), a confectionery, and FLCGroup (FLC), a real estate company, were added to the FTSE Vietnam Indexwhile logistics company Gemadept (GMD) and Development InvestmentConstruction Company (DIG) were removed because of low liquidity.
Newsthat FLC will be added to the FTSE Vietnam Index also helped maintainFLC as the most active code for the whole week, with tens of millionshares being traded each session. The group has just raised its chartercapital to nearly 3.45 trillion VND (163.5 million USD), meeting themarket capitalisation criterion set by the fund.
On the HanoiStock Exchange, the HNX-Index gained 1.52 percent during the week andfinished on September 5 at 88.54 points. Liquidity remained high, withnearly 82 million shares worth more than 1 trillion VND (47.4 millionUSD) changing hands per day.
Oil and gas companies continued tolead the market, with active trading on PetroVietnam Construction Corp(PVX), PetroVietnam Technical Services Corp (PVS), PetroVietnam CoatingCo (PVB) and PetroVietnam Drilling Mud Corp (PVC).
The foreignsector remained the net sellers here for three consecutive weeks. Theyuploaded another 12.8 billion VND (607,000 USD) worth of shares lastweek.
According to most stock analysts, the market will continueto rise in the mid- and long-term but will likely face a correctionphase in the short term after a long rally. However, this also presentsopportunities for new investors to join the market and restructure theirportfolios.
"The market scenario early this week will likely goflat or see a slight correction to check the reliability of the supportlevel of 630 points, in order to make sure the market could sustain thisuptrend in the short term," FPT Securities Company said in a report.
Thecompany advised investors to consider selling hot stocks like oil andgas, real estate and securities to lock in profits, as these stocks haveseen a significant rise in value.-VNA
Onthe Hochiminh Stock Exchange, the VN-Index slowed the weekly gain tojust 0.39 percent to close September 5 session at 638.65 points.
Meanwhile,heavy profit-taking on blue chips like PV Gas (GAS), Masan Group (MSN)and VinGroup (VIC) restrained the growth of the VN30, which tracks thetop 30 shares by market value and liquidity, to just 0.12 percent to endat 677.62 points.
Growing confidence in the prospect of along-term uptrend helped keep liquidity at a high level. Nearly 177million shares averaging 3.22 trillion VND (152.6 million USD) persession were traded on the HCM City market, representing a 6 percentincrease over that of last week.
Active buying by foreigninvestors and securities companies also contributed to the marketmomentum. Securities companies returned to net buying last week aftertwo net selling weeks, picking shares worth a combined 37 billion VND(1.8 million USD).
Meanwhile, foreigners were responsible for atotal net buy value of 248 billion VND (nearly 12 million USD),excluding a net sell value of 214.8 billion VND, or 10.2 million USD, onVIC shares.
Foreign trading is expected to be passionate thismonth following the portfolio restructuring of exchange-traded funds(ETFs). A series of conferences on foreign investment opportunitieswhich securities firms organised also attracted the market's attention.
FTSE Vietnam ETF, which Deutsche Bank is managing, announced on September 5 its portfolio review in September.
Inline with this, Kinh Do Corporation (KDC), a confectionery, and FLCGroup (FLC), a real estate company, were added to the FTSE Vietnam Indexwhile logistics company Gemadept (GMD) and Development InvestmentConstruction Company (DIG) were removed because of low liquidity.
Newsthat FLC will be added to the FTSE Vietnam Index also helped maintainFLC as the most active code for the whole week, with tens of millionshares being traded each session. The group has just raised its chartercapital to nearly 3.45 trillion VND (163.5 million USD), meeting themarket capitalisation criterion set by the fund.
On the HanoiStock Exchange, the HNX-Index gained 1.52 percent during the week andfinished on September 5 at 88.54 points. Liquidity remained high, withnearly 82 million shares worth more than 1 trillion VND (47.4 millionUSD) changing hands per day.
Oil and gas companies continued tolead the market, with active trading on PetroVietnam Construction Corp(PVX), PetroVietnam Technical Services Corp (PVS), PetroVietnam CoatingCo (PVB) and PetroVietnam Drilling Mud Corp (PVC).
The foreignsector remained the net sellers here for three consecutive weeks. Theyuploaded another 12.8 billion VND (607,000 USD) worth of shares lastweek.
According to most stock analysts, the market will continueto rise in the mid- and long-term but will likely face a correctionphase in the short term after a long rally. However, this also presentsopportunities for new investors to join the market and restructure theirportfolios.
"The market scenario early this week will likely goflat or see a slight correction to check the reliability of the supportlevel of 630 points, in order to make sure the market could sustain thisuptrend in the short term," FPT Securities Company said in a report.
Thecompany advised investors to consider selling hot stocks like oil andgas, real estate and securities to lock in profits, as these stocks haveseen a significant rise in value.-VNA
