Vietnamese shares edged up slightly on Wednesday afternoon as investors tried to lock in profits after the benchmark VN-Index surpassed the 1,000-point level, before falling back.
Vietnamese shares recovered on Tuesday, driven by large-cap stocks despite further complications in US and China trade relations.
Vietnamese shares declined on Monday after rising for six consecutive sessions, as large-cap stocks underperformed as investors made sales in pursuit of short-term profits.
The VN-Index is forecast to extend its growth next week and conquer the 1000-point threshold, analysts said.
Shares maintained slight growth on Friday but the recurrence of profit-taking pressure in the afternoon trade over the past three sessions continued to pose a risk to the market’s uptrend.
Divergence of heavyweight stocks restrained stock market growth on Thursday as investor psychology was unstable and looked to earn ‘quick profits’.
Share prices on the Ho Chi Minh Stock Exchanged rose for the fourth consecutive day on Wednesday thanks to the activity of foreign traders and strong growth from oil and gas stocks.
Shares continued to rise on the two local exchanges on Tuesday, fueled by the growth of several major large caps and climbing oil stocks.
Việt Nam’s stock market capitalisation increased 13 per cent against the end of last year, reaching nearly VNĐ3.97 quadrillion (US$169.5 billion) by the end of August.
Shares on the two local bourses struggled to maintain last week’s upward trend, marking just a slight gain on Monday and experiencing strong volatility as investor caution still lingered following the latest update on China-US trade tension.