An investor in a trading session at Vietcombank Securities Company. (Photo: VNA)
Hanoi (VNA) -Vietnamese shares finished January 10 on a mixed note, hit by strongprofit-taking. Energy shares continued to benefit from rising oil prices.
The benchmark VN Index onthe Ho Chi Minh Stock Exchange climbed 0.44 percent to close at 1,038.11points, narrowing its growth from the intraday peak of 1.1 percent.
The southern market indexhas gained total 2.5 percent after the last three trading sessions.
Meanwhile, the HNX Index onthe Hanoi Stock Exchange fell 0.18 percent to end at 121.93 points. It hadrisen a total of 2.7 percent in the previous two sessions.
Market trading liquidityreached a record high with more than 464.3 million shares being traded on the twoexchanges. They were worth 10.6 trillion VND (471.2 million USD).
The trading figuresincreased by 12.3 percent in volume and nearly 15 percent in value compared to January9.
The stock market was buoyedby strong growth of energy firms, whose share values were supported by theincrease of crude prices.
Brent crude added 0.4 percentto trade above 69 USD a barrel, having gained total 12 percent sincemid-December and nearly 56 percent since June 21, 2017.
Vietnamese energy sharesrecorded strong growth rates, such as PetroVietnam Mud Drilling (PVC),PetroVietnam Drilling and Well Services (PVD) and PetroVietnam TechnicalServices (PVS).
These energy firms sawtheir share values jump at least 5 percent at the end of the session.
Strong cash flow thatboosted trading liquidity also assisted securities stocks to increase. FPTSecurities (FTS) and Viet Dragon Securities (VDS) surged at least 6.5 percentwhile other large-cap securities firms, such as Saigon Securities Inc (SSI) andVNDirect Securities (VND), also ended positive.
In the negative territory,banks, insurance companies and rubber producers underperformed as investorslocked in profits that resulted from recent growth in these stocks.
Decliners among thosestocks included Vietcombank (VCB), Vietinbank (CTG), Asia Commercial Bank(ACB), Bao Viet Holdings (BVH), BIDV Insurance Corp (BIC), Sao Vang Rubber JSC(SRC) and Da Nang Rubber JSC (DRC).
According to Sai Gon-HanoiSecurities Company (SHS), the stock market has been hit by profit taking onthree consecutive sessions.
“That could signal themarket has reached its short-term peak and needs a few sessions to decline andsettle down before going up again,” SHS wrote in its daily report.
“But the new record-hightrading liquidity and gainers outnumber losers, proving that investors arestill trading positively and their sentiment remains upbeat.”
Thus, the VN Index isexpected to rise and test the level of 1,040 points again on January 11, SHSsaid.-VNA
VNA
