Shares correct downwards on profit taking
Shares correct downwards on profit taking
Shares declined on the two main bourses on Wednesday with profit-taking pressure increasing as the market keeps touching new peaks.
The benchmark VN-Index on the HCM Stock Exchange was down 0.7 per cent at 672.7 points.
Large-cap stocks led the downturn with 26 of the top 30 largest shares by market value and liquidity declining, including bank stocks which were the main market support early this week.
The National Assembly this morning pushed the button to approve bad debt settlement resolution, as expected, but bank shares corrected downwards on high profit-taking pressure.
Bank stocks have gained value substantially in the past and are forecast to suffer downward correction as positive information has already reflected in the past rallies.
Except Eximbank (EIB) which advanced 2.3 per cent, eight of nine listed banks on the two stock exchanges lost value of between 0.5 and 7.7 per cent each.
On the positive side, DHG Pharmaceutical (DHG), Mobile World Group (MWG) and FPT Corp (FPT) maintained growth.
On the Ha Noi Stock Exchange, the HNX-Index slipped 1.4 per cent at 98.4 points.
A total of 206 million shares worth a combined VND3.2 trillion (US$141 million) were traded on the two markets.
The afternoon session starts at 1pm.
