ETF restructuring dents HSX on March 17.
Only the VN-Index closed lower on Vietnam’s stock market on March 17.
On HSX, the VN-Index fell 4.38 points (0.61 per cent) while the VN30-Index rose 0.28 points (0.04 per cent). The VNMid-Index fell 1.38 points (0.15 per cent) and the VNSml-Index increased 2.78 points (0.34 per cent).
On HNX, the HNX-Index rose 0.41 points (0.46 per cent), the HNX30-Index 0.6 points (0.38 per cent), the UPCoM-Index 0.25 points (0.42 per cent), and the VNALL-Index 0.64 points (0.06 per cent).
HSX saw a 132 point increase followed by a 118 point decrease while HNX saw a 148 point increase followed by a 119 point decrease.
Liquidity on HSX reached VND4.3 3.4 trillion ($188.7 million), 26 per cent higher than yesterday, and on HNX was VND831 billion ($36.5 million), 101 per cent higher.
The VN-Index opened at 714.7 points and gradually increased to its peak of the day of 717 points in the middle of the morning session, then fell and closed at 715.6 points. In the afternoon it fluctuated until late on then fell dramatically, closing at 710.54 points.
In food and beverages, VNM and SBT closed at their opening price, SAB lost 2.3 per cent, and MSN, BHN and KDC increased 1.4 per cent.
In banking, BID and CTG rose 2.1 per cent and CTG 1.1 per cent. MBB and EIB closed at their opening price and STB and VCB lost 0.5 per cent and 0.3 per cent, respectively.
In energy, PGD closed at its opening price, and CNG and GAS lost 2.8 per cent and 1.1 per cent respectively.
In real estate, NVL hit its floor in falling 6.9 per cent and DXG lost 4.1 per cent and VIC 0.5 per cent. KBC closed at its opening price and KDH and FLC increased 0.4 per cent.
Among other large caps on HSX, VJC fell 4.1 per cent, ROS 3.2 per cent, MWG 1.7 per cent, and BVH 0.2 per cent.
ROS hit its floor in falling 7 per cent and HPG shed 1.2 per cent. VJC, MWG and BVU rose 0.9 per cent, 0.4 per cent, and 0.2 per cent, respectively.
ROS saw the highest liquidity today, with VND568 billion ($25.7 million), followed by SSI with VND206 billion ($9 million) and HPG with VND184 billion ($8.1 million).
On HNX, VCG increased 3.1 per cent, PVI 1.7 per cent and ACB 0.9 per cent. PHP and SHB closed at their opening price and VCS lost 1.1 per cent, PVS 0.6 per cent, and NTP 0.5 per cent.
Foreign investors net sold on HSX by VND283 billion ($12.4 million) and net sold on HNX by VND61 billion ($2.7 million ).
The market experienced a volatile week, as the VN-Index broke out of the 712 threshold in two out of five sessions due to changes in key central bank monetary policy decisions, especially the US Fed, the prices of crude oil and other commodities retreated, and two ETFs restructured because of fluctuations. The VN-Index fell 0.6 per cent to an intraday low. There are no positive technical signals. The MACD and ADX don’t support any regained upward momentum, while the appearance of Bearish Engulfing illustrates a possibly bearish reversal scenario. In upcoming sessions, the VN-Index is likely to come back the support range of 700 - 705 points or even 690 – 695 points in a worse-case scenario. Investors should therefore adopt an appropriate stock weight.
KIS Vietnam Securities Corporation