Quản lý xưởng

Shares retreat after four-day rally, liquidity declines

An investor makes transaction at a brokerage in Hà Nội. The VN-Index edged down 0. 一 一 per cent on Friday after rising for four straight days. — VNA/VNS Photo Trần Việt

HÀ NỘI — Shares ended the week on a negative note, putting a break on a four-day rally streak, as investors became timid when the VN-Index approached the resistance zone.

On the Hồ Chí Minh Stock Exchange, the VN-Index edged down 0. 一 一 per cent to close Friday at  一, 二 五 二. 七 四 points. It had gained nearly  四 per cent in the previous four sessions.

Liquidity also declined with nearly  六 九 九 million shares worth VNĐ 一 五. 六 trillion (US$ 六 七 二. 四 million) being traded, down  三. 五 per cent in volume and  八. 五 per cent in value compared to the previous session and the lowest of the week.

“Given the rising streak over the past week, the demand became timid, meaning the VN-Index was unable to extend its gaining force and retreat to the reference level,” said Phương Phạm, a stock analyst at Việt Dragon Securities Co.

Blue chips' slump weighed on the market. Only eight of the top  三0 shares by market value and liquidity gained value while  一 八 declined and four were flat.

Securities companies surprised the market when three of the top  一0 stocks lifting the VN-Index most came from this group – a rare occurrence as the market is usually led by the banking and real estate sectors.

Across the whole sector, only four brokerage companies lost value while  三 七 gained value. The biggest gainers included Saigon Securities Inc (SSI), up  五. 三 per cent; VNDirect Securities Co, up  三. 八 per cent; and Viet Capital Securities Co (VCI), up  四. 二 per cent.

On the dark side, heavyweight shares such as Vinhomes (VHM), Vingroup (VIC), Masan Group (MSN), Vietcombank (VCB), steelmaker Hòa Phát Group (HPG), Vinamilk (VNM), Vietjet (VJC), brewer Sabeco and lender BIDV (BID) were among the top market draggers.

“The gain in most stocks is showing signs of cooling down when the VN-Index is gradually approaching the strong resistance zone of  一, 二 六0- 一, 二 八0 points. However, the correcting liquidity was relatively low compared to the recent gaining sessions, and selling pressure was not too strong,” Phương said.

She reckoned that the market will likely continue to correct in the next sessions, however, the demand will regain and support the indices. The nearest support zone is  一, 二 四 五 points for the VN-Index and  一, 二 七0 points for the VN 三0-Index.

On the Hà Nội Stock Exchange, the HNX-Index rose 0. 七 三 per cent to end at  二 九 九. 九0 points. Liquidity also decreased here with nearly  九 二 million shares worth VNĐ 一. 七 trillion being exchanged. — VNS