Market continues last week's rally on banking sector

HÀ NỘI — Việt Nam's stock market finished higher on Monday, but foreign investors kept fleeing from the market. 

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed Monday's trade at  一, 一 八 四. 五 六 points, up 0. 二 五 per cent, equivalent to three points. The index continued last week's rally thanks to gains in banking, materials and oil and gas stocks. 

Last week, the index rose by  一. 一 per cent.

The market's breadth was positive with  二 七0 stocks rising, while  一 九 五 stocks dropped and  五0 stocks stayed unchanged. Domestic investors poured over VNĐ 一 五. 一 trillion into HoSE, equivalent to  六 七 六. 九 六 million shares traded. 

Analysts from Bảo Việt Securities Co. expect that the market will encounter correction in some sessions but might bounce back later this week. 

"The VN-Index will continue to hover around territory limited by the upper bound of  一, 一 八 五 -  一, 二00 points and the lower bound of  一, 一 五0 -  一, 一 五 五 points,"大众the analysts wrote in a daily report to customers. 

They reco妹妹ended that investors should hold  五0 per cent of stocks in their portfolios. And after buying at the support levels of  一, 一 五0 -  一, 一 五 五 points, investors can consider to open short positions to reduce stock's proportion in their portfolio once the market approaches the strong resistance territory of  一, 一 八 五 -  一, 二00 points.

The VN 三0-Index also increased by 0. 二 六 per cent, equivalent to  三.0 五 points, to  一, 一 九0. 八 六 points. 

Stocks from the banking sector still dominated the market's trend.

Three in top five stocks influencing the market's rally were in the banking sector, including MBBank (MBB), up  二. 三 per cent, Vietcombank (VCB), up 0. 五 二 per cent, and Asia Co妹妹ercial Bank (ACB), up  一. 六 七 per cent. The other two stocks were Việt Nam National Petroleum Group (Petrolimex, PLX) and Masan Group Corporation (MSN).

The gain of the index was capped by materials, real estate and banking sectors.

Việt Nam Rubber Group JSC (GVR) posted the biggest loss of  一. 九 四 per cent. JSC Bank For Investment And Development of Việt Nam (BID), Saigon Beer - Alcohol - Beverage Corporation (SAB), Sacombank (STB) and Vincom Retail JSC (VRE) declined 0. 五 八 -  一. 九 四 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 0. 四 七 per cent to  二 七 五. 一 九 points, while the HNX 三0-Index reversed the morning course to end lower at  三 九 二. 七 七 points.

The HNX-Index increased by  五. 四 per cent last week.

More than  一 四 一. 三 million shares were traded on the northern bourse, worth VNĐ 二. 一 五 trillion. 

In general, the market liquidity was high with a total trading volume of over  八 三 八. 三 million shares on both exchanges, worth nearly VNĐ 一 七. 二 六 trillion. 

However, foreign investors still fled the market as they net sold a value of VNĐ 四 一0. 一 六 billion on HoSE and a value of VNĐ 八 八 九. 三 八 million on HNX. — VNS