Profit-taking hits national bourses

Mar 27th at 11:07

27-03-2014 11:07:46+07:00

Shares on the HCM City Stock Exchange slumped for the second day as investors kept selling for profit. However, buyers and sellers showed confidence in the market.

The offered volume filled all orders from investors thirsty for equity assets. They showed confidence in the market, which has been driven by solid cash flows.

The VN-Index shed 2.29 per cent to end the day at 588.06. The gauge has risen 16.5 per cent in the year to date after gaining 22 per cent last year, according to FPT Securities.

The market breadth was negative on the southern bourse. A total of 55 stocks advanced, 39 were unchanged and 202 were in decline.

Some large capitalisation stocks showed strong price decreases. They included Vingroup with a reduction of VND3,000 per share, Vinamilk (VNM) and Masan (MNS) down VND2,000 per share respectively, while Bao Viet Holdings (BVH) slid VND1,800 and GAS declined VND1,500.

Tan Tao Investment–Industry Corporation (ITA), remain the most active share with 24 million shares changing hands to close at VND10,000 per share.

FLC Group (FLC), was second with 15.4 million shares traded. They plummeted 6.7 per cent to end at VND14,000 per share.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) tumbled one per cent to settle at VND9,700 on a trade of 10.4 million.

SJS led the upswing with a 7 per cent gain to close the day at VND26,400 per share. KSS was the biggest loser, giving up 7 per cent to end at VND8,000 per share.

The VN30-Index, tracking the southern bourse's top shares in capitali

sation and liquidity, dived 2.62 per cent to end at 664.88 points. Market volume was a little changed from a day earlier, totalling 260 million shares and fund certificates worth VND4,310 billion, down 15 per cent from yesterday.

On the Ha Noi Stock Exchange, the HNX-Index sank for the second day as traders continued to offload local shares to take profits.

The market atmosphere was exuberant as both buyers and sellers actively achieved their goals, a stock analyst in Ha Noi said. Investors sold across the board to take margins.

Buyers saw this as a good chance to increase holdings amid strong confidence in the current market uptrend, driven by solid cash flows.

The HNX-Index lost 1.46 per cent to close at 89.79. A total of 160 million shares changed hands for VND1,840 billion ($87.2 million), a little higher than yesterday.

The northern bourse saw 203 declines, 82 advancers and 37 remain unchanged.

The HNX 30 Index composed of the capital city's top shares also plunged 1.74 per cent to end at 183.5.

PetroVietnam Construction (PVX), was the most active share. A total of 17.4 million were traded but sank 7.4 per cent to end at VND6,300 per share.

Sai Gon Ha Noi Bank (SHB) was second in liquidity. A total of 15.6 million shares changed hands, diving one per cent to stand at VND11,400 per share.

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