Market mixed, liquidity reaches over $1 bln

February 29, 2024 - 18:15
The market's benchmark corrected slightly on Thursday but stayed above the threshold of 1,250 points
Products of Masan Group displayed on shelves at a supermarket in Hà Đông District, Hà Nội. The company's shares surged more than 3 per cent, cushioning the selling pressure. — VNS Photo Ly Ly Cao

HÀ NỘI — The market's benchmark corrected slightly on Thursday but stayed above the threshold of 1,250 points, while liquidity reached over US$1 billion. 

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index declined by 1.82 points, or 0.15 per cent, to 1,252.73 points. The index gained strongly in the last three days and peaked at a one-year high at 1,254.55 points on Wednesday. 

According to analysts from Saigon - Hanoi Securities JSC (SHS), there is strong resistance after the 1,250 point-level and the VN-Index will not easily overcome the threshold in the short term. As a result, the market will continue to fluctuate in the short-term and may face a downturn.

Breadth of the southern market was in the negative zone, as the number of decliners surpassed that of gainers by 191 to 123. Liquidity increased nearly 15 per cent from the previous session to more than VNĐ26.1 trillion ($1.1 billion).

However, the VN30-Index still finished higher on the back of some pillars. It rose slightly by 0.4 points, or 0.03 per cent, to 1,265.75 points. In the VN30 basket, nine stocks ticked up while 18 slid and three stayed unchanged. 

BIDV (BID) was the downtrend's leader today with a fall of 1.67 per cent. 

The trio stocks of the Vin-family also experienced strong sell-off. In particular, Vinhomes (VHM) slumped 2.25 per cent, Vingroup (VIC) dropped 1.32 per cent and Vincom Retail (VRE) plunged 4.68 per cent. 

Other stocks posting big losses were Vietinbank (CTG), down 1.11 per cent, MBBank (MBB) tumbled 1.02 per cent and Vietnam Rubber Group (GVR) fell 1.04 per cent. 

The index pared losses thanked to rallies of some large-cap stocks which led by Masan Group (MSN) with a rise of 3.07 per cent. It was followed by Hòa Phát Group (HPG), Khang Điền House Trading and Investment JSC (KDH), SSI Securities Corporation (SSI) and Mobile World Investment Corporation (MWG), with KDH hitting the maximum daily gain of 7 per cent.

In contrast, the HNX-Index on the Hà Nội Stock Exchange (HNX) inched higher at 235.46 points, up 0.3 points, or 0.13 per cent. 

During the session, nearly VNĐ 2.2 trillion poured into the northern market, equivalent to a trading volume of 109.4 million shares. 

Meanwhile, foreign investors ended the long streak of net buying with a net sell value of over VNĐ400 billion on both main exchanges. Of which, they net sold VNĐ387.28 billion on HoSE and VNĐ39.28 billion on HNX. — VNS