Shares rise amid growing caution

2017.11.24 13:50:03 | 2017.11.24 13:50:25
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An investor watches share prices at Tân Việt Securities Company.

An investor watches share prices at Tân Việt Securities Company.

HÀ NỘI - Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.

The benchmark VN-Index closed up 0.11 per cent at 933.70 points on the HCM Stock Exchange, scoring growth of 4.74 per cent since the beginning of this week.

Overall market condition was neutral with 145 stocks rising, 129 falling and 72 ending flat. The divergence, however, was seen among large-cap stocks.

Fourteen of the top 30 largest stocks by market value and liquidity in HCM City declined and 11 advanced.

Gainers continued to focus on banks, securities firms and some large companies, including Vietinbank (CTG), up 4.6 per cent; Military Bank (MBB), up 2.1 per cent; VPBank (VPB), up 1 per cent; HCM Securities (HCM), up 2.1 per cent; Saigon Securities Inc (SSI), up 0.2 per cent; and VinGroup (VIC) and Vincom Retail (VRE), up 0.7 per cent each.

Laggard stocks on November 23 were PV Gas (GAS), Petrolimex (PLX), sugar manufacturer Thành Thành Công Tây Ninh (SBT) and BIDV (BID) which lost between 1.6 per cent and 4 per cent of value.

Increased profit-taking pressure at the end of the afternoon trade made the market shake sharply and pulled the VN-Index down below the reference price. However, strong cash flow in major stocks made a cushion for the market.

“After several consecutive rallying sessions, caution is gradually appearing among investors, but the market liquidity is still maintaining a high level, which indicates that demand still exists,” analysts at BIDV Securities Company wrote in a report on November 23.

Meanwhile, FPT Securities Company warned investors of rising profit-taking pressure and suggested that investors sell stocks which have gained substantial value and seek opportunities in blue chips that have yet to increase much.

“Cash flow may continue alternating among different stocks and hold up the market in the short term,” they wrote in a note.

On the Hà Nội Stock Exchange, the HNX-Index rallied for a second day, up 0.82 per cent to close at 110.18 points.

A total of 305.2 million shares worth a combined VNĐ6.6 trillion (US$289.5 million) were traded in the market, up 17 per cent in trading volume but down 8 per cent in value compared to the previous session.

Foreign investors were net sellers for a value of VNĐ42 billion on the main in HCM City’s market, but they picked up net buy of VNĐ7.5 billion on Hà Nội’s exchange.

By Viet Nam News

http://vietnamnews.vn/economy/418154/shares-rise-amid-growing-caution.html#W2rPSeqjT3Bc1G5C.97

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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