Investors at the trading platform of ACB Securities Company. (Photo: VNA) Hanoi (VNA) ⛄-The VN-Index closed at 731.3 points on April 11, up 0.2 percent over theprevious session’s level and a record high since February 20, 2008.
Shares rose on bothnational exchanges, but a correction is looming as the benchmark indexcontinued to set new peaks. The key index has expanded roughly 10 percent thisyear.
On the Hanoi StockExchange, the HNX-Index also inched up 0.2 percent to end at 90.6 points, thehighest since December 17, 2014. The northern market index has climbed 14.3 percentcompared to the end of 2016.
Money flows moved amongsteel, construction, real estate and securities stocks, and shifted back tolarge-cap banks and some blue chips.
Vietcombank (VCB),Vietinbank (CTG), Military Bank (MBB), VinGroup (VIC), Vinamilk (VNM) andVietjet Air (VJC) advanced, but PV Gas (GAS), insurer Bảo Việt Holdings (BVH),Sacombank (STB), Asia Commercial Bank (ACB) and brewery Sabeco (SAB) declinedand dragged down the market.
Shares of Bao VietHoldings and Asia Commercial Bank (ACB) were among noticeable losers, whilethese businesses reported high profits last year.
Profit-taking activitiesincreased in the afternoon trade on the back of rising investor worry over apossible correction.
Liquidity increased overApril 10 with over 296 million shares worth a combined 4.6 trillion VND (201.8million USD) traded in the two markets, up 34.3 percent in volume and 4.5 percentin value compared to the previous session.
“Although we keeppositive market outlook, this is an unpredictable period when cash flows arevolatile and differential among stock groups,” analysts at Vietnam InvestmentSecurities Joint Stock Company wrote in a report.
The continuousbreakthrough of the VN-Index accompanied by slight increases in recent sessionsmight indicate a near-term correction, they said and reckoned the VN-Indexcould retreat to 720 points when it touched 735.
Foreign investorsextended their net buys in the local stock markets, picking up shares worth anet value of 314.3 billion VND on April 11 on the two exchanges.
𒅌 According to the latestreport by the National Financial Supervisory Commission, foreign investors havebeen net buyers on the local securities market since the beginning of thisyear, for a total of 554 million USD in the first three months, including bondsworth 418 million USD and stocks valued at 136 million USD.-VNA
