Shares advanced on both national stock exchanges last week after posting losses in the previous week.
However,as the benchmark indices approached resistance bands, profit-bookingactivities created pressure on the market due to growing caution byinvestors.
The VN-Index on the Hochiminh Stock Exchange gained anaccumulative 2.32 percent last week to end July 18 session at 596.2points, while the HNX-Index on the northern bourse advanced 3.23 percentto reach 81.14 points.
The trading volume and value on thesouthern bourse averaged 116.9 million shares and 1.9 trillion VND (89.6million USD), improving slightly over the previous week.
However,there was a slight easing of liquidity on the Hanoi Exchange over theweek before, with an average 46.7 million shares changing hands persession, valued at an average 576.8 billion VND (27.2 million USD).
Tradingopened last week with the green colour spreading across the billboard,especially stocks from the rubber sectors, including Da Nang RubberCorporation (DRC) and Southern Rubber Corporation (CSM), which helpedsustain the market gain after the profit booking dragged down theVN-Index during the three previous trading sessions. Still, investorswere showing caution during July 14 trading due to net selling fromforeign investors.
However, the market was unexpectedly bullishon July 15, due to soaring liquidity. But gains were narrowed because ofthe appearance of profit-booking activities when the benchmark indicesapproached new point bands.
Circulating gains from large-capstocks, such as PetroVietnam Gas Corportaion (PVG), Masan Group (MSN),Vietcombank (VCB) and Hoa Phat Group (HPG) helped the southern benchmarkindex avoid a drop on July 16 after a share sell-off, as liquidityimproved greatly. Yet, the northern index was not as lucky, posting aslight drop of 0.09 percent on July 16 after a share sell-off.
Speculativecapital flowing into stocks of construction, property, securities andmining sectors also contributed to consolidate market sentiments.
OnJuly 18, large-cap stocks soared, including big names such as Vinamilk(VNM), FPT Corporation (FPT), Vingroup (VIC), Masan Group (MSN), andVietcombank (VCB), boosting the indices' gains and market liquidity.
Accordingto Le Dac An, investment director of Tan Viet Securities, the marketshowed little reaction to the moving of China's oil rig out of Vietnam'sexclusive economic zone, in comparison to the impact of the illegalplacement of the oil rig in May, which harmed the market.
The market witnessed trading value exceeding 3 trillion VND (141.5 million USD) on both July 16 and 18.
MobileWorld Investment Corporation (MWG) was notable on the southern bourselast week when it soared to end all five trading sessions at its ceilingprices. Listed on July 14 at the initial price of 68,000 VND (3.2 USD)per share, MWG was up an accumulative 55 percent during the week to endJuly 18 session at 103,000 VND (4.8 USD) per share.
Foreigninvestors sold a net 55.4 billion VND (2.6 million USD) on the southernbourse last week, mainly on Vingroup (VIC) and PetroVietnam GasCorporation (PVG), while purchasing a net 87.8 billion VND (4.2 millionUSD) on the Hanoi Exchange, mainly on PetroVietnam Technical Services(PVS).
Nguyen Huu Binh, chief analyst of the Vietnam InvestmentSecurities, said that companies' financial reports were expected to bereleased this month. However, the market did not show signs ofover-excitement or panic but, instead, caution.
Lastly, stock analysts said short-term risks might increase when the benchmark index approached new point bands.-VNA
However,as the benchmark indices approached resistance bands, profit-bookingactivities created pressure on the market due to growing caution byinvestors.
The VN-Index on the Hochiminh Stock Exchange gained anaccumulative 2.32 percent last week to end July 18 session at 596.2points, while the HNX-Index on the northern bourse advanced 3.23 percentto reach 81.14 points.
The trading volume and value on thesouthern bourse averaged 116.9 million shares and 1.9 trillion VND (89.6million USD), improving slightly over the previous week.
However,there was a slight easing of liquidity on the Hanoi Exchange over theweek before, with an average 46.7 million shares changing hands persession, valued at an average 576.8 billion VND (27.2 million USD).
Tradingopened last week with the green colour spreading across the billboard,especially stocks from the rubber sectors, including Da Nang RubberCorporation (DRC) and Southern Rubber Corporation (CSM), which helpedsustain the market gain after the profit booking dragged down theVN-Index during the three previous trading sessions. Still, investorswere showing caution during July 14 trading due to net selling fromforeign investors.
However, the market was unexpectedly bullishon July 15, due to soaring liquidity. But gains were narrowed because ofthe appearance of profit-booking activities when the benchmark indicesapproached new point bands.
Circulating gains from large-capstocks, such as PetroVietnam Gas Corportaion (PVG), Masan Group (MSN),Vietcombank (VCB) and Hoa Phat Group (HPG) helped the southern benchmarkindex avoid a drop on July 16 after a share sell-off, as liquidityimproved greatly. Yet, the northern index was not as lucky, posting aslight drop of 0.09 percent on July 16 after a share sell-off.
Speculativecapital flowing into stocks of construction, property, securities andmining sectors also contributed to consolidate market sentiments.
OnJuly 18, large-cap stocks soared, including big names such as Vinamilk(VNM), FPT Corporation (FPT), Vingroup (VIC), Masan Group (MSN), andVietcombank (VCB), boosting the indices' gains and market liquidity.
Accordingto Le Dac An, investment director of Tan Viet Securities, the marketshowed little reaction to the moving of China's oil rig out of Vietnam'sexclusive economic zone, in comparison to the impact of the illegalplacement of the oil rig in May, which harmed the market.
The market witnessed trading value exceeding 3 trillion VND (141.5 million USD) on both July 16 and 18.
MobileWorld Investment Corporation (MWG) was notable on the southern bourselast week when it soared to end all five trading sessions at its ceilingprices. Listed on July 14 at the initial price of 68,000 VND (3.2 USD)per share, MWG was up an accumulative 55 percent during the week to endJuly 18 session at 103,000 VND (4.8 USD) per share.
Foreigninvestors sold a net 55.4 billion VND (2.6 million USD) on the southernbourse last week, mainly on Vingroup (VIC) and PetroVietnam GasCorporation (PVG), while purchasing a net 87.8 billion VND (4.2 millionUSD) on the Hanoi Exchange, mainly on PetroVietnam Technical Services(PVS).
Nguyen Huu Binh, chief analyst of the Vietnam InvestmentSecurities, said that companies' financial reports were expected to bereleased this month. However, the market did not show signs ofover-excitement or panic but, instead, caution.
Lastly, stock analysts said short-term risks might increase when the benchmark index approached new point bands.-VNA
