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VN Index falls in November’s last day
Viet Nam’s benchmark VN Index ended November with a volatile session with more than half of the blue chips closing in negative territory due to investors’ worries about the market’s prospect.
The benchmark index on the Ho Chi Minh Stock Exchange narrowed its declining rate from as much as 0.61 per cent to 0.03 per cent at the end of the day, finishing at 926.54 points.
The southern market index has lost total 0.40 per cent in the last two trading sessions but posted a weekly gain of 0.93 per cent.
The HNX Index on the Ha Noi Stock Exchange rallied for a third trading day, rising 0.63 per cent to finish at 104.82 points.
The northern market index has increased by total 1.57 per cent after the last three sessions and the three-day rally has helped the market index close up 0.53 per cent week on week.
The VN Index rose a total of 1.29 per cent in November while the HNX Index has fallen total 0.50 per cent during the month.
Large-cap stocks dominated the market movement on Friday, Bao Viet Securities Company (BVSC) said in a note. The VN30 Index had the similar pattern with the benchmark VN Index.
The large-cap VN30 Index ended the session down 0.31 per cent at 894.79 points, narrowing its decline as much as 0.80 per cent.
Seventeen of the 30 largest stocks by market capitalisation in the VN30 basket declined including steel producer Hoa Phat (HPG), Vincom Retail (VRE), property developer Novaland (NVL) and logistic firm Gemadept (GMD).
Investors were clearly cautious with the differentiation of stock groups, especially large-cap ones, causing the trading liquidity to remain low, BVSC said.
Nearly 193 million shares were traded on the two exchanges, worth VND4.56 trillion (US$202.7 million).
Trading figures on Friday were up 21.4 per cent in volume and 36 per cent in value compared to Thursday.
Foreign investors posted VND22.7 billion in net buy value, which was down more than 78 per cent from Thursday’s number.
“Capital flow will improve when new investment opportunities arise” and “that depends much on the coming performance of market’s top large-cap stocks,” BVSC added.
The short-term prospects of the stock market would likely rely on the results of the US-China talks, which are expected to happen during the G20 summit this weekend, BVSC said.
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