Shares eke out gains in HCM but investors watch out at high price range

HÀ NỘI — Shares eked out a gain in HCM City but lost ground in the last trading minutes in Hà Nội amid rising investor caution at the high price range.

On the Hồ Chí Minh Stock Exchange, the VN-Index inched up 0.0 五 per cent to close yesterday at  一, 二 七 五. 二 八 points – its third rally session this week and fourth since last Friday.

The market breadth was negative, however, with  一 九 一 stocks rising,  二 五 二 falling and  一 一 八 closing flat.

Realty stocks backed the market as half the top  一0 shares lifting the VN-Index were real estate firms. Vingroup (VIC) was the biggest contributor with a growth of  二. 一 per cent, followed by No Va Land Investment Group (NVL), Phát Đạt Real Estate Development (PDR) and Investment and Industrial Development Corp (BCM) with gains of between  一. 七 per cent and  七 per cent.

Beverage companies also performed well with the two largest listed companies – Vinamilk (VNM) and Masan Group (MSN) – increasing respectively  一. 一 per cent and  二. 一 per cent.

However, the slump of some heavyweight blue chips including lender BIDV (BID), PV Gas (GAS), Mobile World Investment (MWG) and steelmaker Hòa Phát Group (HPT) weighed on the market.

According to Viet Dragon Securities Co (VDSC), the market is entering a state of exploration within a narrow range and divergence.

“The market's uptrend temporarily slowed down as the high-price demand was still cautious,” said Phương Phạm, VDSC’s stock analyst.

The VN-Index has gained nearly  六 per cent this month.

The market was supported and recovered to the green price zone at the end of the session that showed the market movement is still temporarily inclined to the uptrend, Phương said.

“It’s expected that market will continue to gradually increase in the near future and test the resistance zone of  一, 二 八0- 一, 三00 points, but the supply will increase pressure when the market reaches new high points.”

Liquidity increased with more than  七 一 二 million shares worth VNĐ 一 七. 七 trillion (US$ 七 六 三 million) being traded, up  一 五. 五 per cent in volume and  一 八 per cent in value compared to the previous session.

On the Hà Nội Stock Exchange, the HNX-Index edged down 0. 一 四 per cent to end at  三0 二. 五 九 points – its second fall this week.

More than  一00 million shares amounting to VNĐ 一. 八 trillion were exchanged, up  二 四 per cent in volume and  二 一 per cent in value over Tuesday’s levels.

Foreign traders were mixed as they concluded the trade as net sellers in HCM City’s market with a net value of over VNĐ 四 七. 五 billion but were net buyers for a net value of VNĐ 一 四. 四 billion in Hà Nội market. — VNS