HA NOI — Shares continued to rise in value during yesterday's session in HCM City, but declined in Ha Noi.
|Investors monitor the electronic board at the offices of Bao Viet Securities Co. — VNA/VNS Photo Pham Hau
On the HCM City Stock Exchange, the VN-Index reached 418.21 points, a 0.5 per cent increase compared to Thursday's close.
The VN30, tracking the city's top shares, also went up 0.66 per cent to 497.38 points.
Market value rose 16.2 per cent over the previous trading day's level to VND384.4 (US$18.3 million), as trading volume increased 10 per cent to 24.2 million shares.
Bucking the upward trend, nine stocks tracked by the VN30 tumbled, including some largest shares such as Vietinbank (CTG), property developer Hoang Anh Gia Lai (HAG) and Sacombank (STB).
Foreign investors were buyers on the southern bourse by a margin of VND23 billion ($1 million).
On the Ha Noi Stock Exchange, although blue chips performed well, the HNX-Index Composite declined 0.1 per cent to 68.91 points.
The HNX30, tracking the 30 leading shares in terms of capitalisation and liquidity, edged up 0.12 per cent to 130.23 points.
Trading volume slightly decreased compared to Thursday's level with around 27.4 million shares worth VND391.2 billion ($18.6 million) changing hands.
Investor sentiment was generally negative, FPT Securities Co analysts wrote on the company's website. "If liquidity does not improve, it is hard to expect a sustainable rally."
However, positive signs sometimes appeared in key stocks, although the increase was modest and did not show much support for the HNX-Index, they said.
Foreign investors concluded yesterday as sellers in the capital city, unloading around VND2.3 billion ($109,500).
In the short term, the VN-Index had moved to above the exponential moving average line, while the HNX-Index had not shown the same move. "However, declining trading volume reduces the reliability of the signal," said Hoa Binh Securities Co analyst Nguyen Thi Huong.
Investors should still be careful in their transactions, she advocated. Meanwhile, investor Giang Son alleged that it was a good time to buy shares. — VNS