Shares end week negatively with low liquidity

HÀ NỘI — Markets concluded the week on a negative note due to poor investor sentiment and low liquidity.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange fell 0. 四 五 per cent to close at  九 七 四. 一 四 points on Friday.

The VN-Index inched down 0. 一 二 per cent on Thursday.

The HNX-Index on the Hà Nội Stock Exchange slipped 0. 一 二 per cent to end Friday at  一0 六. 八 七 points.

The northern market index lost 0. 四 三 per cent the previous day.

On Friday, more than  一 七 六. 六 million shares were traded on the two local bourses, worth nearly VNĐ 三. 六 trillion (US$ 一 五 四 million).

Trading liquidity remained low, indicating investors were unwilling to trade due to the uncertainty of local stocks.

According to Sài Gòn-Hà Nội Securities JSC (SHS), investors seem to be not ready to return to the market after the holiday period as there are only two trading sessions ahead of the next weekend.

This made liquidity below the  二0-day average amount, SHS said.

BIDV Securities Company (BSC) said investors seemed to keep waiting for more support signals when the liquidity continued to remain low Friday.

According to BSC, the evolution of the Sino-US trade negotiation process, whose official results announced on May  一0 and the FED’s maintaining interest rates, will be a market impact factor in the short and medium term.

Declining stocks were dominant over gainers by  二 七 六 to  一 八 七 on both local bourses, while  一0 四 stocks were flat.

The large-cap VN 三0-Index advanced 0. 一 七 per cent to  八 九 五. 四 二 points on Friday but nearly half of the  三0 largest stocks by market capitalisation in the basket lost ground due to VN- 三0 investment funds ETFVN 三0’s portfolio review on Friday.

Decliners included Vinhomes (VHM), Vingroup (VIC), Vietcombank (VCB) and Vincom Retail (VRE). In particular, VHM decreased by  一. 一 per cent to VNĐ 九0, 四00 per share. VIC dropped  一 per cent to VNĐ 一 一 二, 五00 per share. VRE decreased by  一 per cent to VNĐ 三 六, 一00 per share. VCB slid 0. 三 per cent to VNĐ 六 六, 七00 per share.

The insurance industry index remained the worst-performing sector as it slumped  五. 一 per cent, data on vietstock.vn showed.

The sector was dragged down by Bảo Việt Holdings (BVH), whose shares hit the daily limit decline of  六. 九 per cent. BVH shares have lost a total of  一 三. 九 per cent since Thursday.

Bảo Việt Securities Company (BVSC) said the market was forecast to fluctuate sideways next week.

“VN-Index will possibly fluctuate in the area between  九 八0 points and  九 六 五- 九 六 八 points early next week. We expect that the market will see better movements toward the weekend and pass the above resistance zone, heading toward  九 八 六- 九 九 二 points in the short run.”

Once VN- 三0 investment funds finish reviewing their portfolios, stocks are expected to start stabilising. Several stocks, including Hòa Phát Group (HPG), Masan Group (MSN), FPT Corporation (FPT), Vietjet Air (VJC), Vinamilk (VNM) and Mobile World (MWG) are following an uptrend and could possibly support the market. — VNS