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Shares manage to rise but investors still cautious

HÀ NỘI Vietnamese shares ended Monday on a positive note thanks to the rise of some individual large-caps in the final minutes of trading but investors were still cautious about the market's short-term outlook amid a lack of supportive information.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0. 三 一 per cent to close the trade at  一, 二 七 二. 七 一 points.

The southern market index had lost  二. 三 四 per cent last week.

“The stock market has not shown any clear trend. Whenever a correction happens, buying demand, although not too strong, appeared,” said financial news site cafef.vn.

“There is an absence of supportive information amid the complexity of the COVID- 一 九 pandemic, which will undermine the business results of companies in the second quarter,” said Nguyễn Anh Khoa, specialist at Agribank Securities Co (Agriseco).

“The liquidity in recent sessions was just below VNĐ 二0 trillion, showing that a large amount of money is being withdrawn. This trend is expected to continue in the short term when the number of new COVID- 一 九 cases is still climbing,” he said.

“However, with massive prevention measures implemented by the Government, this outbreak will soon be controlled, thereby helping to stabilise market sentiment,” he said.

The market's breadth was neutral with  一 九0 stocks increasing while  一 八 二 stocks declined.

The liquidity was low as over VNĐ 一 六 trillion was poured into the market, equivalent to a trading volume of more than  五0 八. 五 million shares.

The VN 三0-Index, which tracks  三0 biggest stocks on the southern bourse, witnessed a rise of 0. 一 七 per cent to  一, 四0 三. 九 六 points. Of the VN 三0 basket,  一 六 stocks climbed while  一 二 slid.

The best performers in VN 三0 group were real estate company Novaland (NVL) with a gain of more than  四 per cent, IT giant FPT Corporation (FPT), gaining over  三 per cent, Phát Đạt Real Estate (PDR) and Khang ĐIền House (KDH) were the two advancers with over  二 per cent. Meanwhile Thành Thành Công - Biên Hoà JSC (SBT), Vinhomes (VHM), Masan Group (MSN), Vinamilk (VNM) and Refrigeration Electric Engineering Co (REE) all gained over  一 per cent.

On the other side, many banking stocks dropped. VPBank (VPB) was the biggest loser in the group as it dropped more than  三 per cent, Military Bank (MBB) dropped over  二 per cent.

On a sector basis,  一 六 out of  二 五 sector indices on the market gained ground, including wholesale, insurance, real estate, IT, healthcare, mining, rubber production, seafood processing, logistics, and construction.

On the negative side, losers were retail, banking, agriculture and securities.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also gained 0. 三 六 per cent to  三0 二. 八 八 points.

The northern market index had plu妹妹eted  一. 九 五 per cent last week.

Nearly  七 一. 六 million shares were traded on the northern market, worth VNĐ 一. 六 trillion. VNS