The benchmark VN-Index struck a new 10-year peak again on Monday, ending the session at 903.55 points, up 13 points, or 1.44 per cent over Friday’s close.
Vietnamese shares were boosted to a new 10-year-high by large-cap stocks last week, but the latest drop may signal further decline in the coming week, analysts say.
Shares fell on the HCM Stock Exchange after rallying for 10 days to its 10-year high as the market was hit by strong investor selling.
Shares soared on both local markets on Thursday with the VN Index hitting a fresh 10-year high as investor confidence improved, pouring strong investment into all sectors and stocks.
After 10 years, VN-Index reached historical milestone when reaching 800 points. Việt Nam News talks with Steven Mantle, offshore fund raising director under Vietfund Management (VFM) about the market as well as operation of its funds.
Shares rose further on both local markets on Wednesday as investors looked for opportunities in other stocks rather than large-caps.
Vietnamese shares remained positive on both local exchanges on Tuesday as banking-financial stocks performed well on strong foreign purchases.
Shares advanced further on both local exchanges as investors eagerly anticipated some companies’ sale of more shares to reduce the State’s capital holdings, and by the impacts of the APEC event last week.
The benchmark VN-Index is heading to the 870-point landmark this week with the support of large-cap stocks experts have predicted, but cautioned a likely correction after a long rally.
Shares closed the week on a positive note as large caps, especially Vinamilk, extended gains on the two national stock exchanges.