VN stocks extend losses on profit-taking pressure
VN stocks extend losses on profit-taking pressure
Shares fell on both local markets on Monday morning as investors continued to seek profits from the market’s previous gains.
The benchmark VN Index on the HCM Stock Exchange dropped 0.61 per cent to close at 771.02 points. It lost 0.9 per cent on Friday.
The HNX Index on the Ha Noi Stock Exchange declined by 0.36 per cent to end at 101.21 points, extending its loss from the one per cent drop on Friday.
More than 187 million shares were exchanged on both local bourses, worth VND2.72 trillion (US$120.8 million).
Market sentiment was poor as investors continued offloading their stake in local stocks after both indices reached fresh historic highs last week.
The VN Index on Thursday set a nine-year high to touch 782.65 points and the HNX Index climbed over 100 points following a seven-day rally.
Profit-taking pressure, however, pulled 17 of the 20 sectors down, with banks, securities firms and property developers among the worst decliners.
Six of the nine listed banks declined, including Asia Commercial Bank (ACB), BIDV (BID), Eximbank (EIB) and Vietinbank (CTG).
Brokerage shares extended losses from their previous gaining streaks. Among the worst decliners were Bao Viet Securities (BVS), Sai Gon-Ha Noi Securities (SHS) and HCM City Securities (HCM).
The afternoon session starts at 1pm.
