Markets rally despite falling liquidity

Shares rebounded on both bourses on November 6, but liquidity declined.
Shares rebounded on both bourses on November 6, but liquidity declined.

On the Ho Chi Minh Stock Exchange, the VN-Index added 0.14 percent to end at 597.85 points.

However, trading values fell 33.3 percent - compared with November 5 - to 1.6 trillion VND (75.4 million USD) on a decreasing volume of 93.4 million shares.

Blue chips tracked by the VN30 Index were mixed, with nine stocks rising and 11 listed codes declining. The index slid 0.02 percent to 637.56 points.

Towards the end of the session, pillars of the southern market, such as insurer Bao Viet Holdings (BVH), PetroVietnam Gas (GAS), software firm FPT (FPT), Mobile World (MWG), PetroVietnam Drilling Services (PVD) and property giant Vingroup (VIC), levelled off or tumbled.

The end of the session trend brought the VN-Index close to the reference value.

However, mid-cap and penny stocks added value, assisting the market avoid larger value losses.

Meanwhile, on the Hanoi Stock Exchange, most shares closed the day positively, pushing up all the indexes.

The benchmark HNX-Index rose 0.72 percent to 89.32 points, while the HNX30 Index, composed of the bourse's top 30 shares, jumped 1.37 percent to 179.64 points.

The overall trading value and volume reached 840 billion VND (39.6 million USD) and 61.8 million shares.

Although several large-cap stocks plunged, the northern market managed to keep the movement upwards, thanks to positive trading on An Phat Plastic and Green Environment (AAA), Asia Commercial Bank (ACB), two of the most influential stocks.

Hot stocks such as PetroVietnam Construction (PVX), real estate developer Sacomreal (SCR), PetroVietnam Coating (PVB) and Saigon-Hanoi Bank (SHB) also helped buoy the upward trend.

The market is making it difficult for securities consultants. FPT Securities Company gave a non-committal prediction that the market would be stagnate for a couple of sessions before moving up or down.

The brokers said investors could arrange their portfolios in accordance with the risk acceptance level of each individual. "Too optimistic or too pessimistic at this point of time are both risky," they said.-VNA

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