Shares are forecast to slow down this week in the face of rising profit-taking pressure after a long rally, as well as net selling by foreign investors and uncertainty before the portfolio restructuring period of exchange-traded funds (ETFs).
Shares bounced back slightly on Friday on the HCM Stock Exchange but slipped on the Hà Nội bourse, affected by the somber result of the State Capital Investment Corporation’s (SCIC) divestment from Vinaconex.
Shares tumbled for a third straight day on the HCM Stock Exchange on Thursday but rose on Hà Nội’s bourse as money inflow channeled into small- and mid-cap stocks.
Samsung Electronics Việt Nam has overtaken Việt Nam National Oil and Gas Group (PetroVietnam) to become the largest firm in Việt Nam in 2017.
The benchmark VN-Index declined for a second day on Wednesday, dropping 0.59 per cent to close trade at 947.64 points.
Shares started the new trading week on a positive note with the benchmark VN-Index rising 1.01 per cent to close Monday at 970.02 points.
Standard & Poor’s (S&P) Global Ratings has upgraded the long-term credit rating for Vingroup from “B” to “B+”, the highest rating in Việt Nam’s real estate industry.
Investors were very excited after the benchmark VN-Index hit an almost decade-high last week and forecasts predict it will head to 1,000 points this year. However, analysts have warned of a likely correction this week after a long rally before the market goes further.
After financial technology (fintech), which changed the way the financial sector worked, now, property technology (proptech) is expected to effect a change in the real estate industry.
Shares concluded a winning week on the HCM Stock Exchange with the benchmark VN-Index adding 0.2 per cent to close Friday at 935.57 points.