Shares correct on rising profit-taking pressure
Shares correct on rising profit-taking pressure
The benchmark VN-Index declined for the first time this week, closing at 751.5 points, down 0.3 per cent, Thursday morning.
Many blue chips on the HCM Stock Exchange tumbled and dragged down the market, including the market support in the previous sessions such as Vinamilk (VNM), brewery Sabeco (SAB), PV Gas (GAS), Vietcombank (VCB), Vietinbank (CTG) and insurer Bao Viet Holdings (BVH).
The VN-Index expanded about 2 per cent this week and profit-taking pressure increased on the stocks advancing substantially in the past rally.
A total of 110 million shares worth nearly VND2 trillion (US$88.1 million) were traded on the HCM City’s exchange.
The market was cushioned by the growth of several large-cap stocks, such as Hau Giang Pharmaceutical (DHG), IT firm FPT Group (FPT), Saigon Securities Inc (SSI) and Mobile World Group (MWG).
By contrast, the HNX-Index on the Ha Noi Stock Exchange, inched up 0.1 per cent at 97.6 points.
Market breadth was positive here with 86 stocks rising, 78 declining and 211 remaining unchanged.
Over 44 million shares worth VND412 billion were traded here in the morning.
The afternoon trade starts at 1pm.
