OnHochiminh Stock Exchange, the VN-Index added 1.27 percent to close theweek at 600.57 points, while the HNX-Index on the northern bourse gained0.84 percent to end at 87.49 points.
On the two first tradingdays of the week, the benchmark indices rose thanks to gains oflarge-cap stocks, including PetroVietnam Gas Corporation (GAS), Vinamilk(VNM), Masan Group (MSN) and insurance Bao Viet Holdings (BVH).
However,with the trading volume and value seen declining, investors remainedcautious. The matching volumes on Hochiminh Stock Exchange and HanoiExchange decreased, respectively, 13 percent and 15 percent over theprevious week.
Meanwhile, profit-booking pressures intensified onthe two last trading days of the week the markets were closed on April 9for a public holiday.
Also, the upward trend was reversed afterthe VN-Index approached the 610-point level. Selling activities werestrong on blue chips, especially as strong net selling by foreigninvestors last week put the market under pressure, although they hadreturned to net buying the previous week.
During last week, thenet selling value of foreign investors reached 503 billion VND (23.9million USD), mainly on PetroVietnam Fertilisers and ChemicalsCorporation (DPM), real estate developer Vingroup (VIC) and Hoang AnhGia Lai (HAG).
However, Masan Group (MSN) and PetroVietnam GasCorporation (GAS), together with stocks in the securities sector,continued to attract capital inflow, even when the market posted losses.Also, GAS on April 11 increased by 2.2 percent to 94,500 VND (4.5 USD)per share.
MSN added 1 percent to be traded at 98,000 VND (4.7USD) on a high dividend payout ratio and target of 1 billion USDturnover for this year. Gains of GAS and MSN helped narrow the marketloss on April 11.
The index for stocks in the securities sector also posted the highest increased rate last week, at 4.96 percent.
Onthe southern bourse, an average of 116 million shares were traded persession, with an average value of nearly 2.4 trillion VND (114.2 millionUSD), respectively 12 percent and 4 percent lower than the previousweek.
The average trading volume and value on the capital city'sexchange were 19 percent and 16 percent lower, respectively, at 71.8million shares and 858 billion VND (40.8 million USD).
Accordingto BIDV Securities, the Vn-Index would continue to consolidate aroundthe 600-point level this week with low trading volume of around 100million shares. The company said that investment chances for short-termprofit takings were small.
Several securities firms forecast thatthe market would continue to face difficulties this week, as thebenchmark indices was on a sensitive resistance band, warning short-terminvestors to be cautious.
However, Rong Viet Securities expectedthe market would improve this week as business results of some largecompanies would be unveiled this week and become a market stimulator.-VNA