The market witnessed strong corrections on both exchanges last week because of heavy profit taking.
However, analysts suggest that this is an opportunity for investors to buy shares while awaiting third-quarter business results.
The benchmark VN-Index lost a cumulative 3.05 percent during the week, closing the September 19 session at 613.29 points.
Theslump of blue chips were the main drag as many of these shares lostvalue, especially on September 19, because of the portfoliorestructuring of exchange-trade funds (ETF).
Stocks removed orscaled down from ETF portfolios sold strongly, such as DevelopmentInvestment Construction Co (DIG), Vietcombank (VCB) and Phu MyFertiliser (DPM), as well as Bao Viet Holdings (BVH) and VinGroup (VIC).
TheVN30, which tracks the top 30 shares by market value and liquidity,declined by 2.28 percent to end the week at 654.54 points.
Foreigninvestors also concluded the week as net sellers on the southernbourses and unloaded shares worth 549.5 billion VND (26 million USD).This is the fifth net selling week for this sector.
Activetrading on hot stocks like oil and gas-related companies, seafoodproducers and securities companies helped cushion the market and boostliquidity.
Market volume on the Hochiminh stock market climbed by16 percent compared with that of the previous week, averaging 196million shares worth more than 3.88 trillion VND (nearly 184 millionUSD) per day.
Analysts at SHB Securities Company said that thoughmost of the stocks in the oil and gas sectors had increasedsignificantly in recent times and were facing profit-taking pressure,prospects for this group remained bright.
"After four decliningsessions, prices of many stocks have fallen to attractive ranges thatwill likely spur demand. In the short term, the market will continue tobe supported at the 605- to 610-point mark," they wrote in a report.
Analystsat FPT Securities Company predicted that the market would bedifferentiated in the future, and stocks with prospects of positivethird-quarter business results would likely increase.
"Recentcorrections will be an opportunity for investors to buy shares and awaitthe results of third-quarter corporate earnings. Investors may payattention to oil and gas and securities groups," the analysts said.
Onthe Hanoi Stock Exchange, the HNX-Index fell by 0.67 percent to finishthe week at 88.89 points. Liquidity remained high, with nearly 112million shares worth 1.63 trillion VND (77.3 million USD) traded persession.
Because of ETFs' portfolio restructuring, foreigninvestors were also net sellers here, unloading 310 billion VND (14.7million USD) worth of shares.-VNA
However, analysts suggest that this is an opportunity for investors to buy shares while awaiting third-quarter business results.
The benchmark VN-Index lost a cumulative 3.05 percent during the week, closing the September 19 session at 613.29 points.
Theslump of blue chips were the main drag as many of these shares lostvalue, especially on September 19, because of the portfoliorestructuring of exchange-trade funds (ETF).
Stocks removed orscaled down from ETF portfolios sold strongly, such as DevelopmentInvestment Construction Co (DIG), Vietcombank (VCB) and Phu MyFertiliser (DPM), as well as Bao Viet Holdings (BVH) and VinGroup (VIC).
TheVN30, which tracks the top 30 shares by market value and liquidity,declined by 2.28 percent to end the week at 654.54 points.
Foreigninvestors also concluded the week as net sellers on the southernbourses and unloaded shares worth 549.5 billion VND (26 million USD).This is the fifth net selling week for this sector.
Activetrading on hot stocks like oil and gas-related companies, seafoodproducers and securities companies helped cushion the market and boostliquidity.
Market volume on the Hochiminh stock market climbed by16 percent compared with that of the previous week, averaging 196million shares worth more than 3.88 trillion VND (nearly 184 millionUSD) per day.
Analysts at SHB Securities Company said that thoughmost of the stocks in the oil and gas sectors had increasedsignificantly in recent times and were facing profit-taking pressure,prospects for this group remained bright.
"After four decliningsessions, prices of many stocks have fallen to attractive ranges thatwill likely spur demand. In the short term, the market will continue tobe supported at the 605- to 610-point mark," they wrote in a report.
Analystsat FPT Securities Company predicted that the market would bedifferentiated in the future, and stocks with prospects of positivethird-quarter business results would likely increase.
"Recentcorrections will be an opportunity for investors to buy shares and awaitthe results of third-quarter corporate earnings. Investors may payattention to oil and gas and securities groups," the analysts said.
Onthe Hanoi Stock Exchange, the HNX-Index fell by 0.67 percent to finishthe week at 88.89 points. Liquidity remained high, with nearly 112million shares worth 1.63 trillion VND (77.3 million USD) traded persession.
Because of ETFs' portfolio restructuring, foreigninvestors were also net sellers here, unloading 310 billion VND (14.7million USD) worth of shares.-VNA
