The VN-Index concluded last week down 0.4 percent from July 29’s close, reaching 422.37 points on the strength of gains late in the week.
The value of trades on the HCM Stock Exchange averaged around 852.3 billion VND (40.5 million USD) per session, slightly higher than in the previous week, while the daily volume of trades averaged 51.2 million shares.
The VN30 Index, tracking the southern bourse's leading stocks, lost 0.5 percent during the week to close on June 29 at just 497.73 points.
On the Hanoi Stock Exchange, the HNX-Index also retreated by 1 percent to 71.07 points. Value averaged a meagre 353.6 billion VND (16.8 million USD) per day on a volume of 37.2 million shares, some 4 percent below the previous week.
What cash flows there are last week tended to return to rubber, real estate and mining stocks. Subsidiaries and affiliates of engineering firm Lilama and construction firms Song Da and Vinaconex all sank notably amid mixed trading in blue chips. Investors continued to neglect bank shares.
June 29 saw the release of national GDP figures for the first six months of the year, showing economic growth at a 4.38-percent pace, against global GDP growth predicted to fall this year by 3.5-3.6 percent.
"A number of banks worldwide are facing lower credit ratings, while GDP growth continues to disappoint investors," commented FPT Securities Co analyst Le Thi Bich Hang.
Although the domestic GDP increase, it is still lower than expected, she noted. In addition, the Performance of Manufacturing Index (PMI) is below 50, showing that the manufacturing sector still faced great challenges.
"The economic picture won't be positive for listed companies to publish profitable business results," Hang said. "Therefore, there is little expectation for a significant recovery."
The horizontal trendline formed at the end of May is strongly controlling the movements of the VN-Index between 415-435 points, she added, a situation that will likely continue this week.-VNA
The value of trades on the HCM Stock Exchange averaged around 852.3 billion VND (40.5 million USD) per session, slightly higher than in the previous week, while the daily volume of trades averaged 51.2 million shares.
The VN30 Index, tracking the southern bourse's leading stocks, lost 0.5 percent during the week to close on June 29 at just 497.73 points.
On the Hanoi Stock Exchange, the HNX-Index also retreated by 1 percent to 71.07 points. Value averaged a meagre 353.6 billion VND (16.8 million USD) per day on a volume of 37.2 million shares, some 4 percent below the previous week.
What cash flows there are last week tended to return to rubber, real estate and mining stocks. Subsidiaries and affiliates of engineering firm Lilama and construction firms Song Da and Vinaconex all sank notably amid mixed trading in blue chips. Investors continued to neglect bank shares.
June 29 saw the release of national GDP figures for the first six months of the year, showing economic growth at a 4.38-percent pace, against global GDP growth predicted to fall this year by 3.5-3.6 percent.
"A number of banks worldwide are facing lower credit ratings, while GDP growth continues to disappoint investors," commented FPT Securities Co analyst Le Thi Bich Hang.
Although the domestic GDP increase, it is still lower than expected, she noted. In addition, the Performance of Manufacturing Index (PMI) is below 50, showing that the manufacturing sector still faced great challenges.
"The economic picture won't be positive for listed companies to publish profitable business results," Hang said. "Therefore, there is little expectation for a significant recovery."
The horizontal trendline formed at the end of May is strongly controlling the movements of the VN-Index between 415-435 points, she added, a situation that will likely continue this week.-VNA
