|
Market reverses with a decline as foreign investors continue net buying
The stock market reversed course and ended lower on Wednesday, with liquidity also dropping, while foreign investors continued their net buying trend.
At a transaction office of VietinBank in Hà Nội City. CTG shares of this bank led the decliners on Wednesday. — VNA/VNS Photo
|
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed at 1,287.84 points, down 4.36 points, or 0.34 per cent.
Market breadth on the southern bourse was negative, with 228 stocks declining, 85 advancing and 52 remaining unchanged. Liquidity fell to VNĐ17.7 trillion (US$718.4 million), marking a 19 per cent decrease compared to the previous session.
The VN30-Index, which tracks the top 30 stocks by market capitalisation on the HoSE, edged down by 4.37 points to 1,354.5 points. Within the VN30 basket, 19 stocks fell, ten gained and one remained unchanged.
The market's downturn was led by large-cap stocks in the financial sector, with the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG) posting the steepest decline in market capitalisation, falling by 1.37 per cent and contributing nearly 0.58 points to the VN-Index's overall decrease.
It was followed by Vietnam Prosperity Joint Stock Commercial Bank (VPB), which declined by 1.01 per cent, Fortune Vietnam Joint Stock Commercial Bank (LPB), which dropped by 0.8 per cent, and HCM City Development Joint Stock Commercial Bank (HDB), which decreased by 1.61 per cent.
However, the market's losses were mitigated by gains in certain pillar stocks, led by the Vietnam Technological and Commercial Joint Stock Bank (TCB), which rose by 1.01 per cent, contributing nearly 0.8 points to the VN-Index.
Experts from Viet Dragon Securities noted: “Liquidity declined compared to the previous session but remained at a high level, indicating that supply continues to exert significant pressure as the market approaches resistance levels. Given the current cautious candle signals, market movements may temporarily slow down and possibly undergo a correction in the upcoming session to test the supportive cash flow around the 1,285-point region.
"Therefore, investors should take a slower approach, observing the supply-demand dynamics to reassess the market's condition. For now, it is advisable to consider this rebound as an opportunity to adjust portfolios towards risk mitigation."
On the Hà Nội Stock Exchange (HNX), the HNX-Index also declined by 0.42 per cent, closing at 235.05 points.
During the session, shares worth more than VNĐ1.1 trillion were traded, with a total trading volume of over 57 million shares on the northern bourse.
Foreign investors extended their buying spree, with net purchases amounting to over VNĐ254 billion on the HoSE.
Bizhub
|
