The stock market last week witnessed profit-taking on the blue chips, as capital inflow into speculative stocks increased.
On the Ho Chi Minh City Stock Exchange, the VN-Index closed the first trading week of the Year of the Horse 1.2 percent lower to 549.76 points.
However, the HNX-Index on the Hanoi Stock Exchange rose slightly, by 0.8 percent to 74.78 points.
Last week, the market was open only on February 6-7 after the nine-day Tet (Lunar New Year) holiday.
The trading volume on the southern bourse averaged 107.1 million, with the average trading value at 1.944 trilion VND (92.5 million USD).
On February 7, liquidity topped 2.37 trillion VND (112.8 million USD) on the trading of 124 million shares, while the benchmark index lost 0.89 percent.
The profit-taking was strong on the blue chips last week, which included Masan Group (MSN), insurance company Bao Viet Group (BVH), real estate giant (VIC), Sacombank (STB) and Hoang Anh Gia Lai (HAG), causing losses and dragging down the VN-Index.
The selling by foreign investors was a factor causing these stocks to fall. On February 6, foreign investors boosted selling with a net value of 96.4 billion VND (4.6 million USD).
Speculative stocks were the main supporters of the week, especially stocks in real estate, construction and transportation sectors, such as FLC Group (FLC), Dat Xanh Real Estate Company (DXG), Vitaco (VTO) and Fecon Minerals Company (FCM).
Liquidity also improved on the northern bourse on February 7 with more than 80 million shares traded with a total value reaching 621billion VND (29.5million USD), doubling the figures of February 6.
After being net sellers on February 6, foreign investors returned to become net buyers on February 7. Over the week, foreign investors sold a net value of 45.2 billion VND (2.5 million USD).
HCM City-listed Kinh Do Group (KDC) was active last week, increasing 13.3 percent, and Hanoi – listed PetroVietnam Construction Joint Stock Company (PVX) rose by 20 percent.
According to Vietstock Finance, speculative stocks will remain attractive to investors in February. Profit-taking pressures on blue chips will also be a factor which will impact market transactions, together with expectations about soaring foreign capital inflows and the regulation about increasing foreign stakes at listed companies, to be issued soon, the company said.
According to FPT Securities, the stock market of Vietnam was expected to enter a positive trend in the coming period when the regulation about increasing room for foreign investors was passed.
In the short term, the market might continue to fluctuate with gains and losses.
Vietnam Investment Securities said that selling pressure is expected to continue this week.-VNA
On the Ho Chi Minh City Stock Exchange, the VN-Index closed the first trading week of the Year of the Horse 1.2 percent lower to 549.76 points.
However, the HNX-Index on the Hanoi Stock Exchange rose slightly, by 0.8 percent to 74.78 points.
Last week, the market was open only on February 6-7 after the nine-day Tet (Lunar New Year) holiday.
The trading volume on the southern bourse averaged 107.1 million, with the average trading value at 1.944 trilion VND (92.5 million USD).
On February 7, liquidity topped 2.37 trillion VND (112.8 million USD) on the trading of 124 million shares, while the benchmark index lost 0.89 percent.
The profit-taking was strong on the blue chips last week, which included Masan Group (MSN), insurance company Bao Viet Group (BVH), real estate giant (VIC), Sacombank (STB) and Hoang Anh Gia Lai (HAG), causing losses and dragging down the VN-Index.
The selling by foreign investors was a factor causing these stocks to fall. On February 6, foreign investors boosted selling with a net value of 96.4 billion VND (4.6 million USD).
Speculative stocks were the main supporters of the week, especially stocks in real estate, construction and transportation sectors, such as FLC Group (FLC), Dat Xanh Real Estate Company (DXG), Vitaco (VTO) and Fecon Minerals Company (FCM).
Liquidity also improved on the northern bourse on February 7 with more than 80 million shares traded with a total value reaching 621billion VND (29.5million USD), doubling the figures of February 6.
After being net sellers on February 6, foreign investors returned to become net buyers on February 7. Over the week, foreign investors sold a net value of 45.2 billion VND (2.5 million USD).
HCM City-listed Kinh Do Group (KDC) was active last week, increasing 13.3 percent, and Hanoi – listed PetroVietnam Construction Joint Stock Company (PVX) rose by 20 percent.
According to Vietstock Finance, speculative stocks will remain attractive to investors in February. Profit-taking pressures on blue chips will also be a factor which will impact market transactions, together with expectations about soaring foreign capital inflows and the regulation about increasing foreign stakes at listed companies, to be issued soon, the company said.
According to FPT Securities, the stock market of Vietnam was expected to enter a positive trend in the coming period when the regulation about increasing room for foreign investors was passed.
In the short term, the market might continue to fluctuate with gains and losses.
Vietnam Investment Securities said that selling pressure is expected to continue this week.-VNA
