The benchmark indices finished higher on October 18, but the VN-Index failed to cross over the key psychological level of 1,400 points level as the rising selling force weighed on the market in the late session. (Photo: tradingview)The vaccination rollout has allowed many cities andprovinces nationwide to reopen, thus facilitating the country’s economicrecovery.
Notably, the planned new economic stimulus packageis expected to give more momentum to the national economy.
Given this, more capital has flown into the stockmarket, especially bank stocks despite previous concerns over increases in baddebts and decreases in profits of banks.
The benchmark indices finished higher on October 18,but the VN-Index failed to cross over the key psychological level of 1,400 pointslevel as the rising selling force weighed on the market in the late session.
On the Ho Chi Minh Stock Exchange (HoSE), theVN-Index increased 2.83 points, or 0.2 percent, to 1.395.53 points.
The market opened the morning session on a positivenote, with bullish sentiment pushing the benchmark to 1,399.97 points. However,the rally was capped by profit-taking activities in the last minutes.
The market's breadth was negative as 193 stocksclimbed and 245 declined, while the liquidity remained high. Accordingly, morethan 795.9 million stocks were traded on the southern bourse, worth over 23.65trillion VND (836.8 million USD).
The index's uptrend was mainly driven by somelarge-cap stocks in energy, banking and manufacturing sectors. The 30 biggeststocks tracker VN30-Index posted a gain of 5.65 points, or 0.38 percent, to1,510.49 points. Of which, sixteen stocks in the VN30 basket jumped, whiletwelve stocks fell and two stocks ended flat.
On the Hanoi Stock Exchange (HNX), the HNX-Indexalso posted a small gain after staying unchanged in the previous session. Itwas up 0.04 points, or 0.01 percent, to 384.88 points.
Experts said investors should focus on sectors thatbenefit from global changes for a long run./.
