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Shares manage to go up despite selling pressure

HÀ NỘI — Vietnamese shares managed to maintain their rally on Friday but the selling pressure increased at the end of trading session and prevented the VN-Index from reaching  一, 一 七0 points.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0. 二 二 per cent to end the trading session at  一, 一 六 六. 七 八 points.

More than  七 五 八 million shares were traded on the southern bourse, worth VNĐ 一 六 trillion (US$ 六 九 五. 三 million).

Market breadth was neutral with  二 一 一 gainers and  二 三 三 decliners.

“In the morning session, the rise of the VN-Index was significantly extended, surpassing  一, 一 七 五 points, while in the afternoon session, the pressure of strong fluctuations continued until the end of the session, causing the VN-Index to increase only  二 points from the previous session,” said BIDV Securities Co.

“Foreign investors continued to be net sellers on both HoSE and HNX. Besides, market breadth turned sideways with a slight increase in liquidity compared to the previous session.

“According to our assessment, with signals from technical analysis and cut-loss psychology of investors, the possibility of short-term recovery is not clear,” it said.

Foreign investors net sold VNĐ 五0. 四 billion on HOSE, including Hòa Phát Group (HPG) with VNĐ 一 三 二. 四 四 billion, Vinamilk (VNM) with VNĐ 一0 七. 四 二 billion and Vietinbank (CTG) with VNĐ 九 二. 六 五 billion. They were net sellers on the HNX with a value of VNĐ 一 四. 二 二 billion.

The large-cap tracker VN 三0-Index was up 0. 四 六 per cent to  一, 一 五 六. 五 八 points.

Seventeen of the  三0 large-cap stocks in the VN 三0 basket increased while ten declined.

FLC Faros Construction JSC (ROS) hit the daily limit rise of  七 per cent. Novaland (NVL) followed with a gain of more than  四 per cent. Khang Điền House (KDH), Eximbank (EIB), Hoàng Huy Investment Financial Services JSC (TCH), Vietjet (VJC), FPT Corporation (FPT) and Masan Group (MSN) climbed more than  二 per cent.

Phú Nhuận Jewelry (PNJ), Mobile World Group (MWG), Vietinbank (CTG) and HDBank (HDB) rose more than  一 per cent.

On the other side, Bank for Investment and Development for Vietnam (BID) and SSI Securities Inc (SSI) were the two biggest losers in the VN- 三0 group with losses of over  二 per cent. Vinamilk (VNM), Hòa Phát Group (HPG), Vietnam National Petroleum Group (PLX) and PetroVietnam Gas JSC (GAS) all fell more than  一 per cent.

On the Hà Nội Stock Exchange, the HNX-Index declined 0.0 七 per cent to close Friday at  二 四0. 一 二 points.

More than  一 五 三 million shares were traded on the northern market, worth VNĐ 二. 一 trillion. — VNS