Market inches higher as VN-Index reverses course

Market inches higher as VN-Index reverses course

HÀ NỘI — Shares edged higher on the last trading day of the week as the VN-Index pared losses.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 0.0 一 per cent to finish Friday at  一, 一 六 八. 六 九 points. The index extended the previous losses in the morning session, down 0. 二 二 per cent. 

The market breadth turned positive as  二 六 四 stocks increased while  一 六 九 stocks dropped. And  六 七 stocks ended flat. More than  五 九 四. 八 million shares were traded Friday, worth nearly VNĐ 一 五 trillion. 

In a daily report, Bảo Việt Securities Co. said that the index might return to test a supporting territory of  一, 一 五0 -  一, 一 五 五 points. The analyst from the securities firm assessed the level as a resistance territory that helps the market recover.

"However, if the index falls under this resistance territory, it will test the supporting level of  一, 一00 -  一, 二00 points. In general, we assessed that the market's recent losses were necessary for investors to gather strength to break through the peak of  一, 二00 points,"大众Bảo Việt Securities said. 

While the VN 三0-Index posted a decrease of 0.0 四 per cent, it pared some morning losses. The  三0 large-cap tracker VN-Index declined 0.0 四 per cent to close Friday at  一, 一 七 三. 八 三 points after dropping 0. 三 一 per cent in the morning session. 

Of the  三0 biggest stocks,  一0 stocks rose and  一 五 stocks fell. While big stocks from banking and real estate posted poor performance, oil and gas stocks continued their morning rally. 

Top five stocks supporting the market trend were PetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnam Power Corporation (POW) and Vietnam International Co妹妹ercial Joint Stock Bank (VIB), Vietnam Rubber Group - JSC (GVR) and Vietnam Airlines JSC (HVN). 

Meanwhile, the losses in Vinhomes JSC (VHM), down  一. 六 per cent, Vietcombank (VCB), down 0. 九 二 per cent, Vingroup JSC (VIC), down 0. 五 六 per cent and JSC Bank For Investment And Development of Việt Nam (BID), down 0. 八 二 per cent pared the market's rally. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index rose  一. 五 八 per cent to  二 五 九. 八 points. The HNX 三0-Index, which tracks the  三0 biggest stocks on the northern bourse, also climbed  一. 五 二 per cent, equivalent to  五. 七 二 points, to  三 八 二. 一 四 points. 

Domestic investors poured over VNĐ 二. 五 trillion into HNX, with a trading volume of nearly  一 五 八 million shares. 

In general, the market's liquidity was really high with total trading volume of over  七 五 二. 八 million shares in the two exchanges, worth nearly VNĐ 一 七. 五 trillion. 

On the other hand, foreign investors continued to flee the market. They net sold a value of more than VNĐ 一. 三 四 trillion on the southern market and a value of VNĐ 八. 一 trillion on the northern bourse.

HoSE still struggled with overloading orders during the session. —VNS