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Banking & Finance

October 26: VN-Index fluctuates

Released at: 14:05, 26/10/2018 Stock Market Watch

October 26: VN-Index fluctuates

Source: TVSI

Gains in US overnight tempered by regional caution.

by Hai My

The stock market opened the final trading session of the week with a positive psychology in place, after the US stock market recovered strongly overnight. The VN-Index rose 6 points and bluechips such as GAS, GPT, VCB, HPG, PNJ, MWG, VRE, and PLX all gained ground.

The Asian market reaction, however, was not positive, as major indexes such as the Nikkei 225, Kospi, and Hangsheng all fell amid investor caution.

At 10.05am, the VN-Index had increased just 3.88 points (0.43 per cent) to 914.05 points, the HNX-Index 0.52 points (0.51 per cent) to 103.62 points, and the UPCoM-Index 0.3 per cent to 51.45 points.

Market liquidity was low, with a matching order value of VND800 billion ($34.3 million). Foreigners were net sellers by VND5 billion on HSX and net buyers on HNX and UPCoM.

After increasing early on, the impact of regional stock markets saw selling pressure increase after 10am, with the VN-Index losing down.

At 10.30am, the VN-Index was down 2.02 points (0.22 per cent) to 908.15 points and the UPCoM-Index 0.05 points (0.09 per cent) to 51.24 points, while the HNX-Index had gained 0.18 points (0.18 per cent) to 103.28 points.

One positive factor was demand at the bottom being quite strong, help market liquidity increase to VND1.3 trillion ($55.7 million).

Bao Viet Securities (BVSC) said the psychological effect of global stock market factors resonated with foreign investors, maintaining net selling for three weeks, especially in bluechips, which had a major impact on the market. More than 260 companies have announced Q3 earnings, with profits growing over the same period of 2017, but positive business results have not had any impact on investor sentiment.

BVSC forecast that until the beginning of December, after the third quarter earnings announcement, there will be information gaps. In the first part of December, the market will shift to focus on adding VN30 stocks, restructuring the portfolio of ETFs.

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