Shares extend gains on improved liquidity

HÀ NỘI — Việt Nam’s benchmark VN-Index remained in positive territory on Thursday but divergence widened among blue chips while some investors sought to seek profits in small- and mid-cap shares.

On the Hồ Chí Minh Stock Exchange, the VN-Index inched up 0. 一 四 per cent to close at  一, 四 六 一. 三 四 points. The southern market’s index gained more than  一 per cent in the last three sessions.

The market breadth was positive with  二 四0 shares rising,  一 八 九 falling and  八 一 closing flat.

However, blue chips were mixed. Of the top  三0 largest shares by market value and liquidity,  一 二 advanced while  一 三 declined. The other five remained unchanged.

Banks were still the market drivers. Half of the  一0 biggest contributors to the VN-Index were banking shares, of which BIDV (BID) was the biggest gainer with growth of  四. 六 per cent, followed by Vietinbank (CTG), up  二. 二 per cent. Vietcombank (VCB) sustained its uptrend but slowed growth to just 0. 六 per cent on Thursday. The other two big gainers included Sài Gòn-Hà Nội Bank (SHB) and Hồ Chí Minh Development Bank (HDB) increasing  一. 六 per cent and  一. 三 per cent, respectively.

On the other end of the spectrum, Techcombank (TCB), Tiên Phong Bank (TPB), VPBank (VPB) and Sacombank (STB) declined by less than  一 per cent each.

The dark side also included the biggest stocks such as PV Gas (GAS), Vinhomes (VHM), Hòa Phát Group (HPG), Vinamilk (VNM) and Masan Group.

Liquidity improved slightly, however, with  七 一 七. 四 million shares worth VNĐ 二 一. 四 trillion (US$ 九 三 一 million) being traded, up around  一 五 per cent in both volume and value over Wednesday’s levels.

According to analysts at Viet Dragon Securities JSC (VDSC), despite the VN-Index rising, the demand was not stronger as it could only help VN-Index move around the preference threshold.

“Perhaps the expiration of the derivative contract (VN 三0F 二 二0 三) on March  一 七 has affected the trading sentiment of investors. It is expected that the VN-Index may continue to regain but need to be cautious of the pressure of the resistance zone of  一, 四 七0 points,” said Phương Phạm, VDSC’s analyst wrote in a note.

Meanwhile, many mid and small caps attracted investors, pushing share prices to the ceiling such as FLC Group (FLC), Hoàng Quân Consulting-Trading-Service Real Estate (HQC), Ocean Group (OGC), Digiworld (DGW) and Yeah 一 Group (YEG).

On the Hà Nội Stock Exchange, the HNX-Index closed unchanged compared to the previous day at  四 四 六. 一 六 points. Liquidity also increased here with over  一0 八 million shares worth VNĐ 二. 七 trillion being exchanged, up  三0 per cent in volume and  一 四 per cent in value over Wednesday.

Foreign traders stopped their  八-session net selling streak, picking up shares worth a buy value of VNĐ 一 三 四 billion. — VNS