|Bảo Việt Holdings headquarters in Hà Nội. BVH led the market gain yesterday with a growth of 3 per cent. VNS Photo Mai Hương|
HÀ NỘI — Shares rose for a third day this week on HCM City’s bourse but reversed to slump in Hà Nội as caution mounted among investors.
On the Hồ Chí Minh Stock Exchange, the VN-Index edged up 0.21 per cent to close Wednesday at 1,154.20 points. This week’s gains extended 1.5 per cent.
Liquidity declined sharply. More than 788 million shares worth VNĐ16.7 trillion (US$704.6 million) were traded here, down 16 per cent in volume and 12.6 per cent in value compared to the previous session.
On the Hà Nội Stock Exchange, the HNX-Index dropped 0.15 per cent after a two-day rally, ending at 228.88 points. Trading volume and value also decreased slightly to 101 million shares worth VNĐ1.7 trillion, down respectively 14 per cent and 10 per cent from Tuesday.
Insurance shares were the biggest gainers with an average growth of 1.7 per cent, tracked by vietstock.vn, thanks to the jump of the biggest listed insurer Bảo Việt Holdings (BVH) which rose 3 per cent to VNĐ46,850 a share.
Vietnam National Reinsurance Corporation (VNR) grew 2 per cent while others including BIDV Insurance (BIC) and Bảo Minh Insurance (BMI), increased slightly by less than 1 per cent each.
In the real estate group, investors’ confidence started to recover after the Government's Decree 35 on June 20 this year regulating the inspection of law enforcement in the construction industry. Experts have expected this will create a boost for the country's real estate market in general and the land plot segment in particular.
At the end of the session, the trio of Vin shares, including Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE), increased between 1.2 per cent to 2.9 per cent. Others such as Phát Đạt Real Estate Development (PDR), Kinh Bắc City Development (KBC) and Khang Điền House Trading and Investment (KDC) and Bà Rịa Vũng Tàu House Development (HDC) increased between 0.5 per cent and 3.8 per cent.
However, the banking sector, which led the market’s gains this week, lost momentum with the group’s average loss of 0.2 per cent. The shares weighing down the market most included VPBank (VPB), Vietinbank (CTG), Techcombank (TCB), Military Bank (MBB) Asia Commercial Bank (ACB), Vietnam International Bank (VIB) and LienVietPost Bank (LPB).
“The selling pressure was quite strong at the high-price range. At the same time, the cash flow’s efforts to support was somewhat reduced at the end of the session,” analysts at Viet Dragon Securities Co wrote in a daily note.
They suggested that at the time being, investors hold stocks which are showing good technical signals from the accumulation base. — VNS