Investors may keep betting on bank stocks this week, securities firms said, but selling pressure may weigh on the market’s overall performance as local stocks are considered as being overbought in recent days.
Vietnamese shares advanced on March 4 with the strong growth of large-cap stocks such as Vingroup (VIC), Vinhome (VHM), PV Gas (GAS), Vinamilk (VNM), and Vincome Retail (VRE).
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined by 1.85 percent to stand at 971.99 points at 2:43pm, as the DPRK-USA Hanoi Summit Vietnam concluded sooner than schedule.
This week, Vietnam’s stock markets closed in the green, as the benchmark VN-Index rose 1.34 points to 988.91 points while the HNX-Index inched up 0.7 point to 106.82 points.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) picked up 10.41 points to reach 961.3 points on February 18, the first day of the week.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose by 10.54 points to reach 919.21 points in the morning of February 11, the first working day after the nine-day Tet (Lunar New Year) holiday.
Vietnam’s stock market is set for unpredictable short-term movement, as both local indexes witnessed a choppy trading week last week, on low liquidity and weak cash flow.
The VN Index lost 0.91 points on January 14 to 901.8 points, with 143.8 million shares worth nearly 2.8 trillion VND (120.4 million USD) traded during the session.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose by 8.74 points to reach 889.64 points on January 7, the first transaction day of the week.
Analysts and securities firms are hoping Vietnamese shares will perform better in 2019, but there are still many challenges that will clearly weigh on market sentiment.
The benchmark VN Index lost 3.7 points to settle at 908.56 points on December 24, with nearly 159 million shares worth more than 3.7 trillion VND (159.1 million USD) traded.
Under selling pressure from the beginning of the session, the VN-Index was down by over 18.39 points at the end of December 17 from the previous day, ending up at 933.65 points.
Vietnamese shares are forecast to rise at a slower pace over the last two weeks of the year amid worries about volatile global markets and falling domestic purchases despite the upcoming quarterly earnings season.
Both indexes of the Vietnamese stock market ended in green on December 3, driven by the agreement between US President Donald Trump and Chinese President Xi Jinping to ease trade tensions.
Market indexes and liquidity suffered a sudden fall in the final trading session last week, meaning that negative signals started to appear following a period of recovery.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose by 3.83 points to 918.12 points by the end of November 12, driven by petroleum and securities stocks.
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