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Banking & Finance

November 19: VN-Index up 1.04% in morning

Released at: 13:38, 19/11/2018 Stock Market Watch

November 19: VN-Index up 1.04% in morning

Source from TVSI

Good news in Asian stock markets finds its way to Vietnam.

by My Van

Positive signs in Asian stock markets early on the morning of November 19 spread to Vietnam, with indexes rising from the opening minutes.

Investor sentiment, however, remains quite cautious, with foreign investors still net sellers.

VIC was quite active, gaining VND3,800 ($0.16) to finish the morning at VND93,900 ($4.03) and having the strongest impact on the market. Bluechips such as GAS, MSN, PNJ, VJC, PLX and ACB as well as CTG, VCB, HDB, VPB, TCB and TPB, which hit their ceiling, also supported the market.

Real estate stocks such as CTD, CEO, DXG, FCN, HBC, LDG, KDH and PC1 also gained ground.

Stocks that led in cash flow, such as oil and gas, seafood, textiles, and securities, generally gained momentum.

The VN-Index finished the morning up 9.32 points (1.04 per cent) to 907.51 points, the HNX-Index 0.66 points (0.64 per cent) to 103.67 points, and the UPCoM-Index 0.11 points (0.21 per cent) to 52.12 points. Market liquidity was quite low, with a matching value of VND1.7 trillion ($73.05 million).

Foreign investors net sold by a total of VND35 billion ($1.5 million).

VNDIRECT Securities said that cash flows are showing signs of recovery in many stock groups, especially banking and oil and gas, which had a positive impact on the index and general market sentiment.

It believes there is a probability of a bottom of 885 points and indicators and many stocks will gradually recover and attract money flow in subsequent sessions. It strongly advises buying once the market falls back, with expectations of a recovery of 950 points to 980 points by the end of December.

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