|An investor follows transactions on the Ha Noi Stock Exchange. — VNS Photo Thai Ha
HA NOI (VNS) — Although analysts expected the VN-Index to challenge the new point band in afternoon trading with significant capital inflow, that did not happen due to relatively high selling pressure.
The VN-Index on HCM City Stock Exchange ended yesterday's session at 589.31 points, 0.53 per cent higher than Monday, but roughly on level with the morning trading.
More than 137.4 million shares worth VND2.1 trillion (US$99 million) changed hands on the southern bourse, doubling the previous trading figures.
The significant capital inflow reflected that investor confidence had improved compared to the previous week on positive macroeconomic news such as stable foreign direct investment, credit growth and promising gross domestic product growth.
However, as the benchmark index approached 590 points, the selling pressure technically rose. As a result, trading slowed down in the afternoon session.
On the southern bourse, 150 codes, gainers doubled losers, while 58 codes tread water.
The VN30-Index, tracking the performance of the southern bourse's top stocks by capitalisation and liquidity, advanced 0.56 per cent to 636.09 points, with advancers being the overwhelming decliners by 20-6.
The gains were registered by names such as Hoa Phat Group (HPG), HCM City Infrastructure Investment (CII), Vinamilk (VNM) and Vingroup (VIC).
FLC Group (FLC), which saw more than 18.8 million shares change hands, became the most heavily traded stock on the southern bourse yesterday, adding VND400 ($0.08) a share to VND13,700 ($0.65).
It was followed by another two property stocks, Hoang Quan Corporation (HQC) and Tan Tao Group (ITA).
On Ha Noi Exchange, with the support of large-cap stocks, the HNX-Index managed to challenge the 80-point level after advancing for three consecutive days to close at 80.23 points yesterday.
The market trend was stable with improved investors' confidence. Overall, there were 126 codes adding value while 70 codes dropped.
With more than 41.8 million shares changing hands, the trading value reached VND515.9 billion ($24.5 million).
None of the market pillars posted losses with the HNX30-Index, tracking the bourse's top stocks, seen rising 0.98 per cent to 164 points.
Foreign investors sold a net VND77.4 billion ($3.6 million shares) on the southern bourse while purchasing a net VND8 billion shares ($370,000) shares on the Ha Noi Exchange.
According to Viet Nam Investment Securities, the VN-Index would be on its way to challenge the 600 point mark. — VNS