6PM Call: Market: Next week political event is driving the market
​Many blue-chips moved lower leading VNindex closed lower 0.71% at 614.8 pts. 3-day dropping erased all gain of strong bull session at the beginning of this week. The return of VNM was nothing compared to plunge of banking stocks, which came from “hero to zeroâ€, and other large cap stocks like VIC and BVH. Market liquidity continued to decrease 5%. However, thanks to the session dated on 17/05, average traded values still increased 2.9% w-o-w.
Foreigners continued to net sell. Offshore investors net sold to the tune of VND100 billion and VND2 billion worth of shares in HSX and HNX. Foreign capital concentrated on Oil & Gas stocks including PVD and GAS with one another banking share MBB.
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