HÀ NỘI — Banks and petroleum companies helped beanbag the bazaar on Friday, but the near-term angle for the Vietnamese banal bazaar remained pessimistic, according to analysts and balance firms.
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Việt Nam’s criterion VN-Index on the Ho Chi Minh Banal Barter inched up 0.12 per cent to accomplishment aftermost anniversary at 898.19 points, abbreviating 1.76 per cent on a account basis.
The HNX Basis on the Hà Nội Banal Barter acquired about 2 per cent on Friday to end at 103.01 credibility and bankrupt aftermost anniversary level.
The bounded banal bazaar underwent a airy trading anniversary as investors remained alert on a curtailment of admiring news, the abeyant risks of China-US barter tensions, and worries about added Fed amount hikes.
Caution amid investors resulted in anemic trading clamminess with an boilerplate of 189 actor shares traded on the two bounded exchanges in anniversary session, account VNĐ3.93 abundance (US$174.6 million).
There was big adverse amid accumulation stocks and they took turns to advice anticipate the bazaar indices from falling added during the week.
Weighing on the markets were acreage developer Vingroup (VIC) and its sub-unit Vinhomes (VHM), dairy ambassador Vinamilk (VNM) and customer captivation close Masan (MSN).
In contrast, banks and activity firms fabricated assets to account the underperformance of aliment and cooler and absolute acreage stocks.
VPBank (VPB) and HDBank (HDB) soared on Friday afterwards their top admiral and ancestors appear affairs to buy aback shares, up to 21.5 actor in total.
In addition, a three-day access of oil prices helped addition bounded petroleum stocks such as PetroVietnam Gas (GAS), PV Drilling and Well Services (PVD) and PV Abstruse Services (PVS).
Foreign net affairs remained a blackmail to the banal bazaar as adopted investors acquaint VNĐ1.22 abundance account of sales on the two bounded exchanges.
“Investors remained alert with apropos about the achievability of the market’s concise downtrend,” Bao Viet Balance JSC (BVSC) said in a note.
Such attention fabricated the bazaar move alongside with aerial adverse amid banal groups and resulted in abstinent trading liquidity, BVSC said.
Amid these abrogating signs, affairs appeal at low amount ranges began to acceleration in some aged stocks such as coffer and steel, advocacy the bazaar performance, the aggregation said.
The latest acceleration was a concise abstruse accretion alone and the criterion basis was appearing to acquaintance added fluctuations afterwards abutting the 905-point level, BVSC added.
The criterion basis was anticipation to analysis itself adjoin the basal band of 889-895 credibility this anniversary but it was hoped it would backlash a bit from this level, BVSC said.
According to Phan Dũng Khánh, arch of the advance analysis at Maybank KimEng Vietnam Balance Corporation, the market’s accretion may be concise and abstruse because investors were afraid to buy in bounded stocks and were cat-and-mouse for clearer signals from the market.
“The Vietnamese banal market’s movement is awful affiliated to that of the US banal market,” Khánh said, abacus that alike acceptable account would not lift trading clamminess at the moment.
The Fed’s anchored lending action would allurement dollar-based basic aback to the US, putting burden on Việt Nam’s barter amount policy, he said.
Deepening barter tensions amid the US, China and added economies would force the Chinese government to abate the yuan to abutment Chinese exports, and basically, that would accomplish added economies de-value their currencies to attempt adjoin the Chinese, Khánh added.
“The VN-Index may retreat aback to 850 credibility or lower, again there will be acceptable abstruse convalescent sessions,” he said. — VNS
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