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VN-Index returned to 1,000 points

Monday - 04/06/2018 20:58
Although the market rises more than 65 points continuously, the liquidity still tends to go down with increased cautious.Ending the 4/6 session, VN-Index increased nearly 21 points (equivalent to 2.11%) to 1,014 points. The VN30-Index, which represents 30 large-cap stocks, rose nearly 28 points to 997. On HNX, HNX-Index and UPCOM-Index both increased by 2.22% and 1.52% respectively.
VN-Index has recorded the third consecutive increase with the total increase of more than 65 points, the first re-establishment of 1,000 points since the loss of this milestone on 22/5.

However, in spite of strong momentum and the recovery of the 1,000 level, liquidity continued to decline to 166 million shares, down nearly 20% compared to the last session of May. HoSE reached nearly 5.100 billion, only equal to 85% compared to two previous rises.
vnindex day chart 5 5 2018

After dropping slightly more than 2 points at the beginning of the session, VN-Index quickly regained the green color and reached the highest level in the session before closing. Plus, with the previous two gaining sessions, the VN Index increased more than 65 points after only three trading sessions.

The main driver for today's session came from bluechips, as the VN30-Index was 30% higher than the VN-Index. In basket VN30, only 5 stocks decreased, contrary to the upward momentum of 24 stocks with 2 stocks hit the ceiling.

The strongest contribution to the market was VNM of Vinamilk. At 4/6, VNM increased 6,800 dong, equivalent to 4.04% and contributed more than 2 points to the uptrend of VN-Index. VietJet VJC gained to a ceiling price of 170,300 dong, contributing more than 1 point to the general increase of the market. VIC's VIC and VIC and VHM of Vinhomes kept the green color with a total contribution of nearly one point in the VN-Index.

Banks also surprised many today when the bulk increased. Except for TCB which hit the floor in the first trading session, the remaining 16 stocks kept green until the end of the session, of which STB of Sacombank and VPB of VPBank rose to the white board.

Midcap and penny stocks also gained momentum in some key stocks, such as DXG, CEO, HDG, HBC or PAN.

However, liquidity continued to be a problem of the market as trading volume declined despite the sharp rise. Trading volume was also the lowest in the last 3 sessions, while the liquidity on HoSE fell by nearly 15%.

The strong and continuous rise of the market pushed many stocks up from 15 to 20% compared to the short-term bottom. However, investors are still hesitant to buy high on fear of correction. With the re-establishment of the 1,000 point psychology of VN-Index, the prospect of market recovery is being opened. Investors are cautiously optimistic about the direction of the reversal.
(Minh Son - Vnexpress)
 Tags: vnindex

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