By Thuy Trieu - The Saigon Times Daily
HCMC – Despite opening the session with positive signs, strong selling pressure towards the end of the day due to investor caution made the VN-Index close the session just 0.35 point higher to 531.86.
Investors bid for 94 million shares, decreasing 12.4% from the session earlier while they offered 103.4 million shares, increasing 10.3%. Closing the session, the market’s total trading volume was 57 million shares worth VND2.4 trillion, rising 1% in terms of volume and falling 7% in terms of value from the session earlier. 
The market ran up from the open and hit a high of 538.01 points in the first phase before correcting thereafter in several stages and finally closing flat. The market saw 114 stocks gaining and 64 others losing, with 29 stocks hitting the ceiling and two dropping to the floor.
Sacombank (STB) was the most actively traded stock on the bourse though it fell 0.42% to VND23,800 per share with 3.8 million shares changing hands. Tan Tao Industry Investment Corp. (ITA), the second most traded stock, rose 2.61% to VND39,300 per share with 2.8 million shares traded.
Foreign investors were heavy net buyers as they bought 2.45 million shares worth VND125.8 billion, increasing 26.6% from the session earlier, and sold 1.4 million shares worth VND64.2 billion, falling 33.5%.
Brokers also give mixed forecasts for the market.
Thanh Cong Securities Co. in its daily report said the caution was widespread and would keep today’s session on a downbeat note.
“Technical analysis shows warning signals, suggesting that the VN-Index will likely shed points. In addition, the level of 540 points was the last peak made on January 8 so it is possible that the market will reverse when approaching this level,” the broker said.
Meanwhile, APEC Securities Co. said that the market was testing the strong resistance area of 530-545 points so the profit-taking pressure would increase around this area, suggesting there would be some adjustment sessions.
“However, we still expect the market would have good performance in the medium term,” APEC said.
Hochiminh City Securities Corp. (HSC) said in its report the market had started the week fairly cautiously after a nice run on Friday. “But closing bids were strong and this suggests further upside potential this week. As we get closer to the March CPI release, we remain optimistic about short to medium prospects but it will be slow going sometimes,” it commented.
Unlike the southern bourse, the Hanoi market lost in the first session of the week. The HNX-Index declined 0.13 point to 173.32. The market’s total trading volume was 35.9 million shares worth VND1.2 trillion, increasing 14% and 17% respectively from the session earlier.
There were 200 stocks closing higher and 52 others closing lower, with 34 stocks rising to the ceiling prices but only two dropping to the floor prices. In total, foreigners were net buyers of VND10.1 billion worth of shares.