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Vietnamese stocks rise amidst investor uncertainty
Vietnamese shares traded with high uncertainty among investors as their sentiment remained quite low regarding the market’s short-term prospects.
The benchmark VN Index on HCM Stock Exchange was up by 0.37 per cent to close at 1,064.34 points. It had fallen by 0.17 per cent on Tuesday.
The HNX Index on Ha Noi Stock Exchange slipped down by 0.27 per cent to end at 124.99 points, extending its short-term downtrend from an almost 1 per cent loss on Tuesday.
Trading liquidity remained low, with more than 96.4 million shares being traded worth VND2.28 trillion (US$101.6 million).
Half of the 20 sectors on the stock market saw their indices decline, including those that had helped lift the market up to an all-time high of 1,200 points in early April.
Decliners among the 20 sectors include insurance-finance firms, banks, property developers and rubber and plastic producers.
According to tinnhanhchungkhoan.vn, a large part of capital switched to mid-cap and small-cap stocks from large-caps, giving a strong boost to speculative stocks.
Among those that benefited from the strong re-direction of capital were Quoc Cuong Gia Lai JSC (QCG), HAI Agrochem JSC (HAI) and Quang Nam Rubber JSC (VHG).
The withdrawal of capital from large-cap stocks resulted in a 0.5 per cent growth of the VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation.
The afternoon trading session starts at 1pm.
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