Exchanges mixed as liquidity rises hinh anh 1Investors in a trading session at ​Tan Viet Securities Company in Hanoi (Photo VNA)

Hano​i (VNA)
- Vietnamese shares ended on December 15 on different notes, with investors’ confidence mixed on the last day in which exchange-traded funds (ETFs) completed their portfolio reviews.

The benchmark VN Index on the HCM Stock Exchange inched down 0.07 percent to close at 935.16 points. It had gained 1.24 percent on December 14.

The HNX Index on the Hanoi Stock Exchange gained 0.13 percent to end at 111.61 points, for a two-day increase of 1 percent.

The VN Index and the HNX Index have respectively lost 0.5 percent and 1.9 percent this week. They have declined by a total of 3.6 percent and 4.4 percent so far in December.

More than 293.5 million shares were traded on the two local exchanges, worth 6.9 trillion VNS (306.7 million USD).

The trading figures represented an increase of 35 percent in volume and nearly 48 percent in value compared to December 14.

December 15 was the last day in which ETFs finalised the restructuring of their investment portfolios for next year. That activity was widely said to account for the sharp rise of the market’s trading liquidity.

Foreign investors posted a net sell value of 248 billion VND on both local markets, four times the figure recorded on December 14.

Dairy producer Vinamilk (VNM), food and beverage firm Masan (MSN), property developer Vingroup (VIC) and fishery company Sao Mai Group (ASM) saw share values down as these stocks were either removed or offloaded from the ETFs’ investment portfolios.

The four stocks declined by between 2 percent and 6.6 percent. The fall of VNM, MSN and VIC was to blame for the decline of the VN Index on December 15.

Among those four stocks, VNM was down 2 percent to end at 197,000 VND per share after having rallied a total of 8 percent in the previous five sessions.

Insurance-banking companies, energy firms and steel producers played main roles in driving the markets up against strong foreign selling.

Five of the 10 bank stocks advanced at least 1 percent, including Eximbank (EIB), Sacombank (STB), Vietcombank (VCB) and MBBank (MBB).

Rising liquidity also supported securities stocks such as Vietinbank Securities (CTS), FPT Securities (FTS), Saigon Securities Inc (SSI) and PetroVietnam Securities (PSI).

Steel companies also advanced with Hoa Sen Group (HSG) and Hoa Phat Group (HPG) raising 2.5 percent and 2.6 percent.

According to Bao Viet Securities Company (BVSC), domestic investors were prepared ahead of the ETFs’ portfolio review and they were able to absorb the strong foreign selling from foreign investors.

The flow of money into the stock market was expected to increase in the short term as it did on December 15, BVSC said in its daily report, adding that the cash flow could lift the benchmark VN Index up again to the range of 965-970 points in the near future.-VNA