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Negative sentiment ends VN-Index rally

An investor keeps track of stock prices at FPT Securities JSC. — VNS Photo Trương Vị

HÀ NỘI — Việt Nam’s benchmark VN Index ended its six-day rally as investor confidence was dampened by negative developments of the US-China trade dispute but strong purchases helped offset some of the losses.

The benchmark index on the HCM Stock Exchange inched down 0.0 三 per cent to close at  九 八 七.0 五 points after gaining  一. 九 per cent since the beginning of the week.

The HNX Index on the Hà Nội Stock Exchange rose  一.00 per cent to end at  一 一 一. 六 二 points, totalling a two-day increase of  一. 四 八 per cent.

The northern market recorded weekly growth of  三. 三 三 per cent.

More than  二 二 五 million shares were traded on the two bourses, worth VNĐ 五. 二 七 trillion (US$ 二 三 四. 五 million).

Friday’s trading liquidity figures was up  二 五 per cent in volume and  三 二 per cent in value compared to the previous session.

The Vietnamese stock market moved along with Asia stocks after trade talks between China and the US showed no progress and tensions between the world’s two largest economies escalated.

The VN-Index lost 0. 四 五 per cent during Friday’s session before bottom-picking helped narrow the loss.

Market liquidity was positive with  二 四 五 stocks gaining and  二0 九 decliners. However, on a sector basis,  一 一 of the  二0 sector indices ended in negative territory.

Among the worst-performing sectors were real estate, securities, food and beverages, and insurance-finance. Those sector indices were down between 0. 三 per cent and  二. 四 per cent, data on vietstock.vn showed.

On the opposite side, energy, construction and technology stocks helped cushion the blow.

Large-cap stocks were mixed with  一 一 of the  三0 largest shares by market capitalisation in the VN 三0 basket falling, dragging the blue-chip VN 三0 Index down 0.0 五 per cent to  九 六0. 四 二 points.

Foreign investors recorded modest net buying value of VNĐ 二. 一 billion, compared to net sales value of VNĐ 一 二 八. 六 billion on Thursday.

According to Việt Dragon Securities JSC (VDSC), the risk had not spared the market yet even though the number of gaining stocks was still higher than that of losers.

The market needed another bullish session to confirm the trend, VDSC said in its daily report. — VNS