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Banking & Finance

VN-Index just under 725 points

Released at: 18:54, 11/05/2017 Stock Market Watch

VN-Index just under 725 points

Index rises for third day in succession on May 11.

by Yen Thanh

Indexes on HSX closed higher while those on HNX lost ground on May 11.

On HSX, the VN-Index increased 0.68 points (0.09 per cent) and the VN30-Index 0.49 points (0.07 per cent).

On HNX, the HNX-Index lost 0.26 points (0.29 per cent) and the HNX30-Index 0.96 points (0.57 per cent), while the UPCoM-Index increased 0.17 points (0.3 per cent).

Liquidity on HSX reached VND4.7 trillion ($206.8 million), 4 per cent higher than yesterday, and on HNX was VND479 billion ($21 million), 21 per cent lower.

The VN-Index opened at 724.31 points and increased to 725.5 points in early trade before tumbling to its bottom of the day of 723.5 points in mid-session. It then increased to close the morning at 726.1 points. In the afternoon it rose quickly early on, reaching 726.8 points, before falling to 724.7 points then fluctuating and finishing the day at 724.99 points.

In food and beverages, SBT increased 4.9 per cent, KDC 0.3 per cent, and VNM 0.1 per cent. BHN closed at its opening price while SAB and MSN lost 0.5 per cent.

VCB was the only banking share to increase, by 0.1 per cent, as MBB closed at its opening price and CTG fell 1.1 per cent, BID 0.6 per cent, and STB and EIB 0.45 per cent.

In energy, CNG rose 0.6 per cent and GAS 0.2 per cent, as PGD closed at its opening price.

In real estate, KBC increased 0.3 per cent, NVL 0.1 per cent, and VIC 0.1 per cent. DXG closed at its opening price while FLC lost 1.2 per cent and KDH 1.1 per cent.

Among other large caps, MWG and ROS increased 0.2 and 0.1 per cent, respectively, while VJC shed 0.1 per cent.

ROS saw the highest liquidity on HSX, with VND1.5 trillion ($66 million), followed by HBC with VND171 billion ($7.5 million) and SCR with VND162 billion ($7.1 million). VNM saw VND67 billion ($3 million) change hands.

On HNX, PHP and VND increased 2.6 per cent and 0.6 per cent, respectively. PVS, SHB, NTP, and VNR closed at their opening price and VCS fell 1.6 per cent, ACB and VCG 1.3 per cent, and PVI 0.5 per cent.

Foreign investors net bought on HSX by VND141 billion ($6.2 million) and net sold on HNX by VND1.2 billion ($52,812).

After recent concerns over strong fluctuations, market sentiment has become more cautious as the VN-Index moves gradually towards the resistance range of 730-735 points. Today’s trade was rather gloomy, with most sectors seeing little change amid active profit-taking, resulting in the VN-Index moving upwards within a narrow range. High liquidity again provided support, as the Chaikin has been increasing for two weeks. This strengthens the uptrend and eases the risk of sharp declines. In upcoming sessions, the VN-Index is likely to increase and aim at 730-735 points. Traders can raise their stock exposure in retreats but it is also necessary to lock profits in surging stocks, whose potential for increases is smaller, because of the high rotation of money and the risk of volatility as the VN-Index closes in on 730-735 points.

Kis Vietnam Securities Corporation

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