Shares end on mixed note with unclear macro signals

HÀ NỘI – Shares ended Monday on a mixed note with the growing momentum of the market weak without clear macro domestic and foreign signals.

On the Hồ Chí Minh Stock Exchange, the VN-Index edged up 0. 二 六 per cent to close at  九 六 六.0 六 points.

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange was down 0. 一 三 per cent to end the session at  一0 二. 三 六 points.

Both stock indices lost value last week.

Liquidity increased with nearly  二 九 五 million shares worth VNĐ 七. 一 trillion (US$ 三 一 九 million shares) being traded on the two markets, up  五0 per cent in volume and  三 五 per cent in value compared to Friday.

Large caps, which often lead the market trend, diverged. Half of the top  三0 largest shares by market value and liquidity on the Hồ Chí Minh Stock Exchange (VN 三0) gained value but  一 一 lost.

The market leaders included PV Gas (GAS), Vinamilk (VNM) and brewer Sabeco (SAB) which increased by more than  一 per cent each.

Vinamilk’s shares (VNM) gained  一. 六 per cent to VNĐ 一 一 八, 一00 ($ 五. 一0) a share following the information that Việt Nam’s biggest dairy company has approved plans to raise stakes in GTNFood (GTN) to  七 五 per cent. By December  六, Vinamilk owns nearly  一0 八 million GTN shares, equivalent to  四 三. 一 七 per cent stake, which means it will have to buy additional  七 九. 五 million shares.

On the dark side, slump of Masan Group (MSN) and Techcombank (TCB) dragged the market with shares decreasing between  一. 五- 三, 二 per cent.

“The market continued to recover in a state of tension and indecision when the domestic and foreign macro signals were not really clear,” BIDV Securities Co’s analysts wrote in the daily report.

They said the price range of  九 五0- 九 八 三 points will still be the main movement area of the VN-Index.

Trần Xuân Bách, a stock analyst at Bảo Việt Securities Co, said the market needed to penetrate through the resistance zone around  九 七0 points to confirm the recovery trend and head toward  九 八0- 九 八 五 point zone in the short term.

“We believe the market will possibly improve in the second half of December, especially after the exchange-traded funds (ETF) review session is over,” he wrote in a note.

Foreign investors ended their five-session net selling session streak on the HCM City’s exchange and closed Monday as net buyers by value with net value of nearly VNĐ 五 八 billion. However, they remained net sellers by volume with  四. 五 million shares.

The foreign sector were net sellers on the Hà Nội’s bourse with net value of more than VNĐ 五 billion. – VNS