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Only HNX-Index closes up

Released at: 18:04, 25/08/2016 Stock Market Watch

Only HNX-Index closes up

HSX large caps struggle on August 25.

by Hung Khanh

Vietnam’s stock market saw mixed fortunes on August 25 with only the HNX-Index closing higher.

On HSX the VN-Index fell 2.27 points (0.34 per cent) and the VN30-Index 1.89 points (0.29 per cent) while on HNX the HNX-Index increased 0.19 points (0.23 per cent) and the HNX30-Index finished 0.04 points (0.03 per cent) down.

The UpCoM Index increased, by 0.09 points (0.17 per cent).

HSX saw 101 shares increasing and 103 decreasing while HNX saw 126 increasing and 125 decreasing.

Liquidity on HNX was VND381 billion ($17.08 million), 4 per cent higher than yesterday, and on HSX was VND2.1 trillion ($94.16 million), 10 per cent lower.

The VN-Index opened at 660.77 points then headed downwards to 656.8 points before recovering some ground to close at 659.25 points. It then went down again in the afternoon, to 658.31 points, before hitting its peak for the day of 660.26 points in the middle of the session then bottoming out at 656.53 points and closing at 658.50 points.

Most large caps fell.

GAS was down 2.4 per cent, CTG 1.2 per cent and VIC 0.4 per cent, while VNM, VCB, BID, MSN and BVH closed at their opening price.

A few medium-large stocks fared better, with HPG up 4.1 per cent, FPT 1 per cent and MBB 0.7 per cent.

On HNX, its largest cap, ACB, increased 1.7 per cent while PVI was up 3.4 per cent, VCS 2.6 per cent, DBC 1.4 per cent and PHP 1 per cent. NTP and PVS were down 1.4 per cent and VCG 0.7 per cent.

Foreign investors continued to net sell strongly on HSX, by VND67 billion ($3 million), and net also sold on HNX, by VND2 billion ($89,680).

The market moved under the reference level and above the support level of 655, with liquidity increasing, especially as the index approached the support level. Cash flow remained in some key stocks such as HPG and HSG, and market demand for TTF took it to the top in liquidity. Despite a slight correction, most stocks rebounded. Small stocks saw better performance than the rest of the market, with large caps down slightly. GAS, VIC, and CTG falling contributed to the correction.

The possibility of a correction in the coming sessions could see the market at 645-650. Investors are recommended to restrain from new positions, maintain a reasonable amount of cash, and reduce the proportion of stocks in their portfolios.

BIDV Securities

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