Stocks slow on higher selling pressure
Stocks slow on higher selling pressure
Shares opened higher this morning, but slowed towards the end of the session as selling pressures mounted.
On the HCM Stock Exchange, the VN-Index closed almost unchanged at 550.13 points, while the VN30, which tracks the top 30 shares by market value and liquidity, inched up 0.04 per cent to 572.58 points.
Also, profit taking increased strongly after two profitable sessions.
Also, more than 60 million shares, worth VND838 billion (US$38.6 million), were traded by the end of the morning, down 16 per cent in value compared with yesterday's level.
FLC Group (FLC) remained the most active stock, with whopping trades of 13.5 million shares and climbing 2 per cent to stand at VND10,200 per share.
On the Ha Noi Stock Exchange, the HNX-Index was up 0.11 per cent to end at 79.43 points, with a modest trading value of VND312.4 billion ($14.4 million).
However, the losers outnumbered the gainers by 100 to 62, while the remaining 194 listed companies were flat.
KLF Joint Venture Global Investment Co (KLF) lead trades here with 5.6 million shares, rising 1.4 per cent to end at VND7,300 a share.
Additionally, according to analysts, fuel prices increasing VND1,200 per litre to VND20,430 ($0.94) will likely have an adverse impact on investors' psychology and raise caution in the market outlook.
