Roundup: Vietnam's Hanoi stock market continues upward trend amid low liquidity

Vietnam's capital Hanoi stock market continued the upward trend on Friday, however, the growing pace is still slow amid poor liquidity.

Compared to the final session on last Friday, the HNX-Index, the benchmark of the Hanoi Stock Exchange, gained 0.92 points or 1. 18 percent.

During the week, the index witnessed five straight ups, climbing from 78.07 points to 78.67 points.

In comparison, in the previous week, the HNX-Index ranged between 76.64 points and 77.75 points.

This week, on Friday, the HNX-Index closed at 78.67 points, up 0.07 points, or 0.08 percent, against the previous trading session.

A total of around 28.925 million shares worth some 343.2 billion Vietnamese dong (15.74 million U.S. dollars) were traded, a decrease of 30.84 percent in volume and 31.27 percent in value against the previous trading session.

Prices of 78 stocks went up; 89 stocks fell down, while 76 stocks remained unchanged.

Foreign investors turned from net-sellers in the previous week to net-buyers this week.

During the week, foreign investors bought over 5.763 million shares while selling nearly 2.301 million shares. In the previous trading week, they bought over 5.966 million shares while selling nearly 16.861 million shares.

Analysts said that investors should stay cautious if there are any signs of a selling trend on the market.

The range of 77-77.5 points will serve as supportive level in case of a thrust down, analysts said.

Compared to the last trading session in 2014, as of Friday, the HNX-Index has decreased by 4.31 points, or 5.19 percent.

In a related move, the Hanoi Stock Exchange has announced to launch the derivative market since the fourth quarter of 2016.

According to the plan, the derivative market will host trading of only stock market index futures and government bond futures. After 2020, the derivative market will trade following international practices. Endi