Vietnamplus

Financial stocks’ strong recovery lifted both local exchanges on December 14, but the market’s short-term prospects remained gloomy following the outflow of money.

Vietnam’s benchmark VN-Index extended its rally on November 29 for the eighth consecutive session as investor confidence was lifted by expectations of the Government selling its stakes in listed companies.

Investors were very excited after the benchmark VN-Index hit an almost decade-high last week and forecasts predict it will head to 1,000 points this year. However, analysts have warned of a likely correction this week after a long rally before the market goes further.

Shares advanced for a third session on the HCM Stock Exchange on November 7 as property developers and energy firms were able to maintain momentum.

The market trend of heavy dependence on several individual stocks generated some volatility in last week’s trades.

The benchmark VN-Index hit a new 10-year peak on October 27 after big money flowed into large-cap stocks on rising investor confidence in the market outlook.

Vietnamese shares traded sluggishly last week on the back of large-cap stocks and the current condition is expected to remain in the coming week, according to analysts and brokerage firms.

Shares rose slightly for a second day on the HCM Stock Exchange this week but the rally was recorded in the last trading minutes thanks to recovery of some large-cap stocks.

Vietnam’s benchmark VN-Index on the HCM Stock Exchange recovered on September 28, but slowed at the end of the session as investors increased selling to make profits.

Vietnamese shares fell on both local exchanges on September 27 as energy, brokerage and bank industries dropped on profit-taking.

Shares declined on the HCM Stock Exchange on the last four days this week, but strong demand from local traders cushioned the market.

The local stock market underwent a downward correction on September 11 as investors increased selling pressure to seek short-term cash profits following a 10-year peak.

Vietnam’s benchmark VN-Index reached a 10-year high last week on the back of a few blue chips. However, the gain was unstable and the index could face a short-term drop in the coming sessions.

Vietnamese shares rose for a second day on both local markets on August 24, driven by bank stocks on expectations that a new draft circular would help local banks operate more efficiently.

Bank stocks strengthened during August 18’s afternoon trade which rescued the VN-Index from another fall as investor sentiment remained fragile.

Vietnamese shares have had a rough losing week and the next five trading sessions at least are likely to trade negatively, according to analysts and brokerage companies.

Vietnamese shares extended losses for a third straight session on August 10 but investor confidence showed signs of improvement after being brought down by false news and global tension.

Vietnamese shares fell slightly on both local markets on August 8 as investors tried to take profits from the exchanges’ three-day rallies.

Shares continued rising in early August but observers are predicting a slowdown in the short term as shares have become expensive and exposed to profit-taking risk.

Shares fell on both local markets on July 14, ending a three-day rise as investors increased selling to lock in short-term profits for their portfolios.