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Market edges up as liquidity continues to decline
Việt Nam’s stock market saw a slight increase on Thursday as liquidity continued to decline, while foreign investors sustained their net buying momentum.
A VIB bank transaction office in Hà Nội City. VIB shares gained on Thursday, contributing to the market's positive performance. — Photo vietnamplus.vn
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The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) edged up by 0.14 points, or 0.01 per cent, closing at 1,242.11 points.
Market breadth was positive, with 159 gainers outnumbering 143 decliners. However, liquidity on the southern bourse continued its downtrend, dropping to VNĐ11.1 trillion (approximately US$436.9 million), with a trading volume of 477.5 million shares.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, rose marginally by 0.46 points, or 0.04 per cent, to 1,301.52. Among VN30 stocks, 12 advanced, 15 declined, and three remained unchanged.
Key banking sector stocks led the market’s modest gains. According to data from the financial website vietstock.vn, the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) emerged as the biggest gainer, contributing significantly to the market's capitalisation. Shares of CTG increased by 0.71 per cent, adding over 0.3 points to the VN-Index.
The Vietnam International Commercial Joint Stock Bank (VIB) followed with a 2.16 per cent gain, while the Việt Nam National Petroleum Group (PLX) rose by 2.3 per cent. FPT Corporation (FPT) gained 0.36 per cent and the Vietnam Technological and Commercial Joint Stock Bank (TCB) climbed by 0.43 per cent.
However, selling pressure in several large-cap stocks limited the market’s gains. Vinhomes JSC (VHM) fell sharply by 1.91 per cent, the Bank for Investment and Development of Vietnam (BID) declined by 0.54 per cent, and Saigon Beer - Alcohol - Beverage Corporation (SAB) dropped by 1.07 per cent.
Analysts from Việt Dragon Securities remarked: “The market's decline was curbed by support near the 1,240-point level. Liquidity slightly decreased compared to the previous session, falling to a low level, indicating that supply pressure has temporarily eased. However, cash flow remains hesitant.
“We anticipate that the market will continue to receive support around the 1,240-point level in the next trading session and could see a technical recovery toward the 1,252-point resistance zone. However, recent declines below the 200-day moving average (MA200) could still exert downward pressure on the market.
“Therefore, investors should monitor supply-demand dynamics closely to reassess market conditions. Caution is advised, and investors should wait for stronger signs of cash flow while maintaining a balanced portfolio to mitigate risks,” they added.
On the Hà Nội Stock Exchange (HNX), the HNX-Index inched up by 0.22 per cent to end the day at 223.57 points.
The northern market recorded a trading value of over VNĐ572 billion, with a trading volume exceeding 34 million shares.
Foreign investors extended their net buying streak, purchasing over VNĐ48.2 billion on the HoSE.
Bizhub
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