Shares closed the week in the green but there were signs of weakness along with declining liquidity.

PetroVietnam (PVN) has proposed the Ministry of Industry and Trade approve the reduction of its ownership in PetroVietnam Drilling and Well Services Corporation (PVD) from 50.4 per cent to 36 per cent.

The short-term uptrend of the stock market remains positive this week as investors may head to companies with third-quarter earnings prospects but some corrections are needed to help Vietnamese shares consolidate before rising further.

Vietnamese shares fell on Thursday as strong selling pressure weighed down large-cap stocks and listed firms suffered from negative news of the macro-economy.

Vietnamese shares rose firmly on Wednesday, driven by higher oil prices that boosted energy stocks and by positive news from energy firms.

Việt Nam’s benchmark VN-Index was dragged down on Tuesday by large-cap stocks and net foreign selling after having rallied for three consecutive sessions.

Vietnamese shares rose for a second session on Friday, driven by property developer Vingroup and its sub-units as well as energy firms.

Vietnamese shares extended their losses on Wednesday as large-cap stocks lost momentum on the withdrawal of capital as foreign investors continued to offload assets.

The Government will have to decide either to devalue the Vietnamese đồng further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/đồng exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.

The price of bio-fuel E5 was kept unchanged while diesel 0.05S and kerosene increased slightly by VNĐ213 and VNĐ69 per litre, respectively, in the latest regular adjustment of petrol and oil prices as of 3pm on Monday.