Stocks finish higher while foreign investors continue to flee market

Markets edged higher on Monday as many big stocks across all sectors made gains. Foreign investors were still net sellers.
The benchmark VN-Index on the Ho Chi Minh City Stock Exchange (HoSE) closed Monday at 1,175,68 points, up 1.16 per cent. During the session, 392 stocks rose while 83 stocks decreased.

The market liquidity was still high with local investors pouring over VND14.49 trillion into the southern market, equivalent to a trading volume of nearly 660.55 million shares. 

Monday's gain was opposite to forecasts from securities firms like Bao Viet Securities Co. 

Analysts from Bao Viet expected that the market might face correction earlier this week before bouncing back at the end of the week. 

The 30 large-cap stock tracker VN30-Index also posted a rise of 1.1 per cent to 1,180.07 points. Twenty-nine of the 30 biggest stocks in market capitalization in the VN30 basket rose while only one stock declined. 

Stocks in all sectors recovered from last week's volatile trend with the VN-Index losing 2.67 per cent for the week. 

Stocks from banking, real estate, construction, materials, utilities, logistics, retail and information technology sectors all posted good performance. 

Of which, top five stocks dominating the market's trend were from the bank and materials segment. These stocks included Vietinbank (CTG), up 2.43 per cent, Vietnam Dairy Products JSC (Vinamilk, VNM), up 1.64 per cent, VPBank (VPB), up 2.53 per cent, Vietnam Rubber Group - JSC (GVR), up 2.01 per cent, and MBBank (MBB), up 2.73 per cent.

Meanwhile, Vietnam National Petroleum Group (Petrolimex, PLX) post the biggest loss. Followed by Kinh Bac City Development Share Holding Corporation (KBC) and Becamex Infrastructure Development JSC (IJC).

On the Hanoi Stock Exchange (HNX), the HNX-Index gained 1.92 per cent to 276.16 per cent on the rise of the biggest stocks.

The HNX30-Index, tracking the 30 large-cap stocks in market capitalization on the HNX, rose 2.58 per cent to finish Monday at 406.64 points. 

More than 178.19 million shares were traded on the northern exchange, worth nearly VND2.72 trillion. 

On the other hand, foreign investors continued to flee the market. They net sold a total value of VND180.15 billion, of which VND153.64 billion on HoSE, VND19.93 billion on HNX and VND6.58 billion on UPCOM.

In the global market, shares were mixed in Asia and the EU while rising in the US.

Nikkei 225 index increased 0.71 per cent, Shanghai index rose 0.5 per cent while ASX 200 and Kospi index slid 0.16 per cent and 0.36 per cent, respectively. S&P 500 index climbed 1.66 per cent and Nasdaq index was up 1.24 per cent.

Regarding the vessel stuck in the Suez Canal, a statement from the Suez Canal Authority on Monday said that the cargo ship blocking the canal was partially freed.


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