Market adjustments over the past few weeks has brought many stocks down to attractive price levels compared to the beginning of the year, but investors should remain cautious. On the Ho Chi Minh Stock Exchange, the benchmark VN-Index rose 2.01 per cent to close at 917.51 points on Friday. On the Ha Noi Stock Exchange, the HNX Index increased by 4.47 per cent to end at 100.70 points. The VN Index and the HNX Index finished the week 4.5 per cent and 5.15 per cent lower than the previous week. Some 194.1 million stocks worth VND4.3 trillion (US$190 million) were traded on average each session last week. Ngo The Hien, deputy head of analysis at Sai Gon – Ha Noi Securities Company (SHS), told tinnhanhchungkhoan.vn that the market had experinced a four-week decline with depleting liquidity, and cash flow had not returned to the market. Nguyen Trung Du, senior expert at VNDirect Securities Co (VNDS), said the market had been bearing the burden of the massive net selling by foreign investors in response to the appreciation of the US dollar against other currencies after the US Federal Reserves raised interest rates. Rising tensions between China and the US, which could… Read full this story
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