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Banking & Finance

May 4: VN-Index increased in the early morning session

Released at: 13:54, 04/05/2018 Stock Market Watch

May 4: VN-Index increased in the early morning session

Chart from tinnhanhchungkhoan.vn

The VN-Index is forecast to recover but investors are still cautious.

by My Van

The VN-Index increased by 10 points during the early morning session and continued to recover throughout the afternoon. Market sentiment was quite vibrant. However, after consecutive bull traps, investors became quite cautious and weren’t willing to run high price orders.

At 9:45 am, the VN-Index increased by 5.2 points (0.35 per cent) to reach 1,031.66 points; the HNX-Index increased by 0.61 points (0.5 per cent) to 123.12 points and the UPCoM-Index increased by 0.08 points (0.14 per cent) to 56.18 points.

Large cap stocks such as VJC, BVH, FPT, MSN, HPG all rose at 10am during the morning session. GAS saw a recent rebound and increased by VND2,000 ($0.08) while HAG hit the ceiling price. In addition, bank stocks such as ACB, CTG, BID, VPB, MBB, and HDB also recovered well to help the market rise. On the down side, VIC, VRE, VNM, PLX were the blue chips that declined noticeably.

Stocks in the market such as real estate and securities also recovered making transactions more exciting.

FRT posted a profit of VND9,000 ($0.39) per share after an impressive listing. Two other retail stocks, PNJ and MWG are trading in the green.

Investors are generally cautious. It is forecasted that the VN-Index will recover in the next few sessions. However, investors are still cautious in general so the recovery phase may happen with moderate amplitude.

(Bao Viet Securities Company - BVSC)

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