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VN-Index growth slows as trading values remain high
Growth in share prices slowed on Sept. 4, but liquidity and trading value was high.
Ho Chi Minh Stock Exchange’s VN-Index added 3.42 points or 0.62 percent to close at 558.6. Trading volume nearly doubled to 30.52 million shares for a total revenue of more than 1.2 trillion VND (72.72 million USD).
The southern market saw 104 gainers and 46 losers.
“The prices of blue chips have grown strongly in the past month and have neared investors’ expectations,” said Vu Hoai Nam , an investor with ACB Securities. “This means it’s more risky to buy these shares now.”
“Buying penny chips is quite a safe choice for day-traders,” he said.
Vu Hoai Chang, head of SME Securities’ Analysis Department, said more investors were buying small stocks, but warned they should be cautious as the liquidity of small securities was less than that of major stocks.
Overseas clients were net sellers, unloading 2.74 million shares and buying about 1.88 million. Net sales value narrowed to about 20 billion VND (1.2 million USD) from the previous day’s 309 billion VND (18.7 million USD).
On the northern market, the HASTC-Index increased by a slight 0.57 points or 0.29 percent to close at 194.87. Trading volume was 15.4 million shares worth nearly 749 billion VND (45.4 million USD).
“Current share prices have reflected what we expect in the next few months,” said Fiachra Mac Cana, an analyst with HCM City Securities Corp (HSC), adding that it was likely that the macro-level environment would remain positive between now and the end of the year.
VNA
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