Vietnamese shares failed to maintain their upward trend on Thursday thanks to overwhelming selling pressure that persisted from the start of the trading hour to the closing minutes.
Following the bullish session on Monday, local markets were fragile on Tuesday with both indices falling on weakening investor sentiment, as external factors increase volatility in the market.
Local markets are set to feature lots of foreign trading again this week, with foreign investors’ taste likely to change market sentiment after foreign selling pressure had weighed down the stock market for the last two months.
Vietnamese shares closed Friday on a positive note as investors started buying in when exchange-traded funds (ETFs) offloaded stocks during their portfolio reviews.
Vietnamese shares slipped on Thursday as foreign investors struck a large net sell value after the US central bank raised interest rates and signaled more hikes to come this year.
Vietnamese shares advanced on Wednesday on the back of large-caps but trading liquidity remained low to prove cautious investor sentiment and signal volatile sessions to come.
Volatility on Việt Nam’s stock market in the past two months has dragged down the performance of foreign investment funds here.
Shares retreated on Thursday on the nation’s stock exchanges, reversing from Wednesday’s unexpected rebound.
Steel producer Hòa Phát Corporation plans to issue more than 606.8 million bonus shares, worth VNĐ6 trillion (US$266.7 million), to pay a 40 per cent dividend for its performance in 2017.
MSCI, a global leading provider of research-based indexes and analytics, has eyes for Vietnamese shares when it added five local shares to its MSCI Frontier Markets Small Cap Index.