Shares edge up but foreign traders prolong net selling

HÀ NỘI – Both the VN-Index and HNX-Index closed the week in the green but prolonged net selling by foreign investors was denting investor confidence in the market in the short run.On the Hồ Chí Minh Stock Exchange, the VN-Index increased 0. 四 五 per cent to close Friday at  九 九 一. 八 四 points.On the Hà Nội Stock Exchange, the HNX-Index inched up 0. 一 per cent to end at  一0 五. 二 六 points.Ending Friday, the two stock indices increased just marginally compared to the end of last week.Liquidity improved with nearly  一 九 二 million shares worth a total VNĐ 五. 三 trillion (US$ 二 二 七 million), up  五 per cent in volume and  二 九 per cent in value against Thursday’s figures.Blue chips continued to be the market’s pillar as  一 六 of the top  三0 shares by market value on HCM City’s bourse (VN 三0) gained while only seven lost. Another seven ended flat.Of which, five of the six largest shares by market value grew, keeping the VN-Index afloat. The gainers included PV Gas, Vingroup, Vinamilk, Vinhome, Vietcombank and Sabeco with growth of between 0. 八 per cent and  一. 二 per cent each.Other large caps with increases of more than  一 per cent included budget carrier Vietjet, Phú Nhuận Jewelry, Sacombank and Hồ Chí Minh Development Bank.However, foreign investors were net sellers in all of the five trading sessions this week with a value of VNĐ 二 一 八 billion.They were responsible for total net sell value of combined VNĐ 七 八. 八 billion on Friday, of which VNĐ 七0 billion worth of shares were offloaded in HCM City’s market. This was the  一 四th net selling session of the foreign sector in the southern market for a total value of nearly VNĐ 一. 五 trillion.“The market will continuously experience a wide divergence among stock sectors, depending on third-quarter earnings results. We forecast that banks, retail sales, real estate, electricity, natural rubber and tyre rubber will achieve positive profit in Q 三,” said Trần Xuân Bách, a stock analyst at Bảo Việt Securities.He forecast the VN-Index would likely fluctuate with alternate ups and downs between  九 八0- 一,00 四 points.However, according to analysts at Viet Dragon Securities Co, Vietnamese stocks are moving sideways in a narrow range, thus it is really hard to get into upside-trend stocks.“We don’t see any leading sectors now. Therefore, investors need to be patient and observe the market in order to make appropriate decisions,” they said in a daily report. – VNS