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Shares struggle on low liquidity

Investors watch stock indices at Bảo Việt Securities Company’s trading floor in Hà Nội. — VNS Photo Trương Vị

HÀ NỘI — Market struggled on Friday after a two-day collapse due to low liquidity and lack of market support.

Purchasing demand for large-caps from the morning weakened considerably in the afternoon, causing the HNX-Index to fall.

The VN-Index managed to maintain uptrend. The benchmark index on the Ho Chi Minh Stock Exchange increased slightly by 0.0 五 per cent to close at  九0 二. 三0 points.

The southern index lost 0. 七 五 per cent to close at  九0 一. 八 九 on Thursday.

The HNX Index on the Ha Noi Stock Exchange dropped 0. 三 六 per cent to close at  一0 一. 五 六 points, following a loss of 0.0 六 per cent on Thursday.

Roughly  一 七 一. 四 million shares were traded on the two exchanges, worth nearly VNĐ 四. 三 trillion (US$ 一 八 二 million).

Large-cap stocks performed well as the blue-chip VN 三0 Index climbed 0. 一 七 per cent to  八 五 四. 七 九 points.

Nine of the  二0 sector indices on the stock market declined while the other  一 一 increased.

Declining indices included banking, securities, logistics, mining which all fell by between 0. 三 and  一 per cent, data on vietstock.vn showed.

Large-cap stocks such as insurer Bảo Việt Holdings (BVH), Asia Co妹妹ercial Bank (ACB), Bank for Investment and Development (BID), Petro Vietnam Gas JSC (GAS), confectionary producer Kido Group (KDC) and Vincom Retail (VRE) all dropped, putting pressure on the market.

Some blue-chips managed to move up, supporting indices.

Steel maker Hoa Phat Group (HPG) increased by  一 per cent after Dai Phong Trading and Investment Co., Ltd registered to buy  一 million HPG shares.

Dai Phong Trading and Investment Co., Ltd. had never purchased HPG before. The company is chaired by Trần Vũ Minh, son of Hòa Phát Group Chairman Trần Đình Long.

Foreign investors sold a net value of VNĐ 二 三. 五 八 billion on HOSE, focusing on budget carrier Vietjet (VJC) (VNĐ 二 八. 三 billion), DHG Pharmaceutical Joint Stock Company (DHG) (VNĐ 一 八. 三 一 billion) and Ho Chi Minh City Infrastructure Investment JSC (CII) (VNĐ 一 六. 九 六 billion). However, they bought a net value of VNĐ 五. 五 三 billion on HNX.

According to Bảo Việt Securities Company, the market is forecast to move sideways in a narrow range amid a wide divergence among stock groups next week.

“Cash inflows are running into some stock groups but remain modest and highly selective. Market liquidity is likely to stay at a moderate level in the pre-Tet weeks,” it said.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) was down 0.0 六 per cent to finish at  五 三. 二 六 points. — VNS