Shares lose steam on profit taking
Shares lose steam on profit taking
Shares declined towards the end of morning trade as investors increased profit-taking, selling after a week of gains.
On the HCM Stock Exchange, the VN-Index inched 0.5 per cent down at 676.1 points. It gained nearly two per cent in the previous week.
The HNX-Index on the Ha Noi Stock Exchange decreased 0.4 per cent to end at 80.8 points, following a one per cent gain last week.
Large-cap stocks lost steam and dragged down the market.
Only eight of the top 30 largest companies by market capitalization advanced while 21 declined. The largest losers included insurer Bao Viet Holdings (BVH), PV Gas (GAS), private equity firm Masan Group (MSN) and real estate giant VinGroup (VIC).
Construction and real estate shares attracted significant attention this morning as many investors poured money in this share group, which helped lift prices, including Faros Construction (ROS), FLC Group (FLC), Industrial Urban Development Co 2 (D2D), Tin Nghia Industrial Park Development (TIP), Idico Urban & House Development (UIC) and Dat Xanh Real Estate Service & Construction (DXG).
A total of 92 million shares worth over VND1.4 trillion (US$62.8 million) were traded on the two markets.
Afternoon trade starts at 1pm.
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