The VN-Index ended a three-day losing streak in trading on June 27 on the HCM Stock Exchange, ending the first session of the week at 434.25 points, a gain of 0.2 percent over the previous session's close on June 24.

While the volume of trades rose just 16 per cent to about 25.5 million shares, the value of the day's trades soared to over 1 trillion VND (51.5 million USD), doubling June 24’s value, thanks to the heavy buys by foreign investors of dairy producer Vinamilk (VNM).

Foreign investors bought 6.4 million shares of VNM worth 725 billion VND (35.2 million USD), accounting for 70 per cent of the total market value. The shares were bought through negotiation at the ceiling price of 115,000 VND (5.60 USD) per share.

This also lifted the value of net buys by foreign investors on the HCM City market on June 27 to over 714 billion VND (34.7 million USD) – the highest level since the beginning of the year.

Over 14 million additional shares – which VNM had previously issued to foreign investors and employees – were officially traded on the HCM City bourse for the first time on June 27, raising the foreign ownership ratio in VNM from 46 percent to 49 percent. VNM closed up 2.7 percent to 113,000 VND (5.50 USD).

Overall, many blue chips declined, including shares of real estate developer Hoang Anh Gia Lai (HAG), steel producer Hoa Phat Group (HPG), Phu My Fertilisers (DPM), Masan Group (MSN) and insurer Bao Viet Holdings (BVH), with losses ranging from 1-3 percent. Decliners edged advancers by 110-103.

Investors still kept a watchful eye for an uptrend following the release of some positive economic data last week, said independent analyst Pham Viet Hung.

"Economic policies used to be unpredictable in Vietnam, and investors want to wait for clearer signals before making any investment decisions," said Hung.

Inflation in June was reported to rise just 1.09 percent over May, its slowest pace since the beginning of the year, while growth in the trade deficit slowed, with the deficit being forecast to reach 6.65 billion USD in the first half.

The central bank also said that credit growth in the non-manufacturing sector dropped to 16.9 percent of total outstanding commercial bank loans in June, well within the Government's 22 percent cap.

On the Hanoi Stock Exchange on June 27, the HNX-Index retreated by 0.2 per cent from June 24 to close at 75.63 points. Over 24 million shares were traded, worth 293.6 billion VND (14.3 million USD), while losers outnumbered gainers by 128-102. /.