Trading session at the MB Securities Joint Stock Company’s office in Ha Nội. (Photo: VNA)
Hanoi (VNA) - Shares extendedgains on the HCM Stock Exchange on October 13, concluding the week withpositive results for all five sessions.
The benchmark VN-Index increased 0.62 percentto close at 820.95 points, expanding weekly gains to 1.6 percent.
Large caps continued to be major supporterof the market, with 19 of the top 30 largest shares by market value andliquidity advancing and only nine declining.
Big gainers included PV Gas (GAS), Masan Group (MSN), VinGroup (VIC), brewerSabeco (SAB), PetroVietnam Drilling and Well Services (PVD), Military Bank(MBB) and Vinamilk (VNM).
Sabeco was the biggest gainer, up 2.3 percent;followed by VinGroup at 1.8 percent; PV Gas and Masan Group, both up 1.6 percent;while others increased by around 1 percent.
However, wide divergence in major stockswas still clear. Insurer Bao Viet Holdings (BVH), Eximbank (EIB), Sacombank(STB), Kido Group (KDC), steelmaker Hoa Phat Group (HPG) and Hoa Sen Group(HSG) tumbled on October 13.
“The market’s uptrend in recent sessionswas mostly attributable to the positive movement of large-cap stocks,” Tran HaiYen, a stock analyst at Bao Viet Securities Co, wrote in a daily report.
Yen said the money flow focusing on largecaps and high selling pressure on mid-cap stocks were not positive signals forthe general market trend.
“The market is forecast to see a slightdowntrend with a wide divergence in the next session,” Yen said.
On the Hanoi Stock Exchange, the HNX-Indexedged up 0.67 percent to end at 109.11 points. The northern market indexdecreased 0.25 percent on October 12.
Liquidity decreased slightly for a secondday with the total volume reaching 196.5 million worth a combined 3.9 trillion VND(171.8 million USD) being traded in the two markets, down 1 percent in volumeand 17 percent in value compared to the previous day.
According to Saigon-Hanoi Securities Co,the index rising accompanied by declining liquidity indicated increasedinvestor caution. In fact, selling pressure began to increase when the VN-Indextouched the daily peak at 818 points.
“The market’s uptrend will be challenged inthe coming session,” they said but added that the positive factor was thereturn of foreign traders as net buyers in HCM City’s market after a prolongednet selling streak.
Foreign investors continued to be netbuyers in HCM City’s market for a total of 51.4 billion VND in the last twosessions. However, they remained net sellers in Hanoi with net value of nearly 18billion VND.-VNA
VNA
