Stock market forecast to seesaw this week Kim Ngan By Kim Ngan – The Saigon Times Daily HCMC – Securities companies predicted that the local stock market would seesaw in a narrow range of 560-570 points or gain a slight recovery this week after losing sessions if there is more positive information. Both indexes declined remarkably last week compared to the week earlier with the VN-Index losing over 3.6% to close at 566.58 and the HNX-Index dropping around 1.9% to end at 87.42. Liquidity on both exchanges dropped, down 9% on the HCMC Stock Exchange with a combined matching volume of 612.7 million shares and 13.5% on the Hanoi market with volume of around 298 million shares. Large-caps such as GAS, PVD and VNM were heavily divested in the week, causing the indexes to lose ground, according to vietstock.vn. Last Friday saw GAS and PVD suffer sell-offs. However, banking stocks lured much speculative money and rising realty, securities and construction shares helped prevent the bourses from further declines. Notably, LGC listed on the southern bourse and ITQ on the northern bourse gained 25% and 58% to close at VND29,100 each and VND36,600 each respectively at the last session of the week thanks to good results announced for these stocks. Foreigners were net sellers for the third consecutive week. On the HCMC market, they net sold over VND346 billion, focusing on PVD, GAS, EIB and HPG, and bought VND45 billion worth of VIC shares and VND33 billion worth of HVG shares….