VN markets may decline after gains: analysts On Friday, the benchmark VN Index on the HCM Stock Exchange edged down 0.4 per cent to finish last week at 658.68 points. The southern market index ended up 2.9 per cent over the week, finishing higher than previous analysts’ forecasts. The HNX Index on the Ha Noi Stock Exchange fell 0.7 per cent to end Friday at 87.57 points, retreating from a five-day rally of 4.1 per cent. The northern market index rose 2.8 per cent from the previous trading week. Nguyen Ngoc Lan, senior analyst at Agribank Securities Corp (Agriseco), said local markets would decline this week as profit-taking could continue and global markets remained volatile. “However, the decline is not especially significant, as investors may rotate their investment portfolios among listed companies,” she said. Le Duc Khanh, head of the investment strategy division at Maritime Securities Inc, noted that markets would head down in the first three days, before returning to positive territory during the rest of the week. Hoang Thach Lan, a securities analyst, said the markets had increased because they had been too “hot” since June 24. During this period, the price-to-earning (P/E) ratio in some blue chips…
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