A trader sits in front of an electronic board at a Vietcombank Securities Co’s trading floor. (Photo: VNA)Hanoi (VNA) – The benchmark VN-Index continued to rise on February 23 but at aslower pace as investors worried about a possible correction.
On theHCM Stock Exchange, the VN-Index inched up 0.1 percent to close at 717.24points, lifting the three-day rally to 1.3 percent.
On the HanoiStock Exchange, the HNX-Index edged down 0.3 percent to end at 86.6 points. Thenorthern market index has gained over four per cent in the past month.
“Liquiditymaintaining high levels for many sessions made many investors worry that themarket has reached its peak,” stock analysts at Vietnam Securities Co (IVS)wrote in a market report.
Tradingvolume touched a one-month high at nearly 293 million shares, worth a combined 4.4trillion VND (193 million USD) in the two markets.
Overallmarket conditions were negative with 251 stocks decreasing, 204 rising and 242unchanged.
Bluechips were on the defensive as 17 of the top 30 shares by market value andliquidity on the main bourse in HCM City lost value while 11 advanced.
Hoang AnhGia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment JSC (HNG)tumbled after a strong rising streak.
HAGdecreased 1 percent, halting an eight session positive run while HNG fell 1.5percent.
On thebright side, oil and gas and real estate stocks supported the market.
Benefitingfrom global oil price recovery, PV Gas (GAS), the biggest listed energy stock,grew 3.9 percent and PetroVietnam Drilling and Wells Service (PVD) added 1.3 percent.Other smaller stocks such as Petroleum Equipment Assembly & Metal Structure(PXS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Technical Services(PVS) advanced between 1 percent and 3.5 percent.
Brentfutures rose to 56.24 USD a barrel, while US West Texas Intermediate (WTI)crude edged up 0.6 percent to 53.71 USD a barrel.
Propertystocks continued their growth but slower. The exception was Hoang Quan ConsultingTrading Service Real Estate (HQC), which hit the daily limit of 7 per cent fora second day, while others such as Novaland Investment Group (NVL) inchedup 0.3 percent, FLC Group (FLC) and Ninh Van Bay Real Estate(NVT) both up over 2 percent
However,according to IVS analysts, cheap property stocks still attracted goodinvestments but faced correction pressure after previous big gains.
Foreigninvestors were net sellers in HCM City’s market after two net selling sessions,offloading a net value of 21 billion VND. They were net buyers on Hanoi’sbourse for a modest value of 3 billion VND.-VNA
On theHCM Stock Exchange, the VN-Index inched up 0.1 percent to close at 717.24points, lifting the three-day rally to 1.3 percent.
On the HanoiStock Exchange, the HNX-Index edged down 0.3 percent to end at 86.6 points. Thenorthern market index has gained over four per cent in the past month.
“Liquiditymaintaining high levels for many sessions made many investors worry that themarket has reached its peak,” stock analysts at Vietnam Securities Co (IVS)wrote in a market report.
Tradingvolume touched a one-month high at nearly 293 million shares, worth a combined 4.4trillion VND (193 million USD) in the two markets.
Overallmarket conditions were negative with 251 stocks decreasing, 204 rising and 242unchanged.
Bluechips were on the defensive as 17 of the top 30 shares by market value andliquidity on the main bourse in HCM City lost value while 11 advanced.
Hoang AnhGia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment JSC (HNG)tumbled after a strong rising streak.
HAGdecreased 1 percent, halting an eight session positive run while HNG fell 1.5percent.
On thebright side, oil and gas and real estate stocks supported the market.
Benefitingfrom global oil price recovery, PV Gas (GAS), the biggest listed energy stock,grew 3.9 percent and PetroVietnam Drilling and Wells Service (PVD) added 1.3 percent.Other smaller stocks such as Petroleum Equipment Assembly & Metal Structure(PXS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Technical Services(PVS) advanced between 1 percent and 3.5 percent.
Brentfutures rose to 56.24 USD a barrel, while US West Texas Intermediate (WTI)crude edged up 0.6 percent to 53.71 USD a barrel.
Propertystocks continued their growth but slower. The exception was Hoang Quan ConsultingTrading Service Real Estate (HQC), which hit the daily limit of 7 per cent fora second day, while others such as Novaland Investment Group (NVL) inchedup 0.3 percent, FLC Group (FLC) and Ninh Van Bay Real Estate(NVT) both up over 2 percent
However,according to IVS analysts, cheap property stocks still attracted goodinvestments but faced correction pressure after previous big gains.
Foreigninvestors were net sellers in HCM City’s market after two net selling sessions,offloading a net value of 21 billion VND. They were net buyers on Hanoi’sbourse for a modest value of 3 billion VND.-VNA
VNA
