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A Vietnamese stock broker from An Bnh Securities Co. showed a mixed trend at the close on Friday. Photo tinnhanhchungkhoan.vn

Vietnamese H NI stocks were mixed at the close on Friday, down on the H Ch Minh stock market but up on the northern stock market, demonstrating investor caution before important global macroeconomic information.

The H Ch Minh stock market’s VN benchmark slipped 0.31% to close at 757.94 points.

The index rose 1.65% to finish Thursday at 760.33 points.

Over 338.4 million shares were traded on the southern stock exchange, worth 4.1 billion VN (175.9 million US dollars).

The large cap tracker VN30-Index lost 0.30% to close Friday at 695.74 points.

In the VN30 basket, 19 of the 30 largest stocks by market capitalization and trading liquidity decreased while nine increased. Two remained unchanged.

In the US market, Wall Street rose on Thursday after the Federal Reserve announced plans to inject an additional $ 2.3 trillion in loans to care for local governments and businesses affected by the coronavirus epidemic.

The Dow Jones Industrial Average rose 285.8 points, or 1.22%, to 23,719.37, the S&P 500 gained 39.84 points, or 1.45%, to 2,789.82 and the Nasdaq Composite added 62.67 points, or 0.77%, to 8,153.58.

On the negative side, the local stock market was further weighed down by a sharp drop in energy and mining values ​​after global oil prices fell on Thursday evening.

Oil prices plummeted after a previous increase as OPEC and its allies reached an agreement to cut production smaller than the market expected.

US crude oil fell 7.4% to $ 23.22 a barrel. Brent crude fell 3% to $ 31.85 a barrel.

Following this decision, local energy values ​​also became negative, PetroVietnam Drilling and Well Services (PVD), PetroVietnam Power Corporation (POW) and PetroVietnam Technical Services (PVS) losing 2.5%, 2.1% respectively and 0.8%.

Some other large individual caps also lost ground, such as insurer Bo Vit Holdings (BVH), down 2.5%, Mobile World Group (MWG), down 1.8%, Vingroup (VIC), loss of 1%.

The banking group also underperformed, the Investment and Development Bank of Vit Nam (BID) having decreased by 2.1%, the Vietinbank (CTG) by 1.8%.

But the market still received strong support from other pillars such as the budget transporter Vietjet (VJC), the brasserie Sabeco (SAB) and the steelmaker Ho Pht Group, up 7%, 1.3% and 0, 7%, respectively.

The main factor that has supported the Vietnamese stock market over the past week has been governments’ effective containment of the COVID-19 pandemic, said Nguyn Th Minh, director of market analysis at Yuanta Securities Co.

However, the market could face great difficulties when the VN index approaches resistance of 810 points, as strong selling pressure will likely appear. Investors should avoid using margins because the upward momentum can only last one to two weeks, “Minh told the news site ndh.vn.

The HNX index of the H Ni exchange rose 1.05% to close Friday at 106.18 points.

The northern market index climbed 1.1% to close Thursday at 105.08 points.

Almost 53.3 million shares were traded on the North Stock Exchange, worth 475.4 billion VN. VNS



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