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Investors send mixed signals
The VN-Index started the week yesterday with a gain of 1.22 per cent, closing Monday's session at 313.69.
About 20.7 million shares were traded for a total value of VND512.9 billion (US$28.8 million).
Cables and Telecommunication Materials (SAM) and Sacombank (STB) led the market with about 2.8 million shares of each being traded.
Many investors said that they wanted to buy in ahead of the holiday break this week, giving the Index a slight boost.
"After last week's fall, some stocks returned to attractive price level, which made me decide to buy in again," said Trung Kien, an investor in Tan Viet Securities Co, predicting the market would be active again after the Liberation Day and May Day holidays this week.
Vu Duc Nghia, an analyst from Bien Viet Securities Co, said current stock market events now depended on the investment tactic of investors. "While some investors tend to sell out to realise a profit, others tend to buy in once they feel prices are suitable."
Another analyst from Eurocapital Securities said that investors were much calmer and more strategic than before. "Along with the initial signs of economic recovery, we can absolutely hope for a further rally in the stock market," he said.
Foreigners yesterday became net buyers of 1.5 million shares, worth VND64 billion ($3.6 million). They were most active in shares of Hoa Phat Group (HPG), FPT and Phu My Fertilisers (DPM).
The buying trend didn't travel north to the Ha Noi market, with the HASTC-Index dropping another 0.80 per cent to end the day at 109.32. Trading volume in Ha Noi rose to 17.4 million shares, worth a combined VND374.4 billion ($21 million), with Kim Long Securities (KLS) the most-active share, with 5.7 million traded.
vietnamnet, vietnamplus
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