Shares end week on a negative note
Shares end week on a negative note
Shares corrected in the last trading session of the week with many heavy-weight stocks losing ground due to strong profit-taking pressure.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.52 per cent to end at 1,493.03 points.
It had gained 0.80 per cent to end Thursday at 1,500.81 points.
The market's breadth was negative with 166 stocks rising, while 315 slid.
Market liquidity remained high as investors poured over VND35.4 trillion (US$1.6 billion) into the southern exchange, equivalent to a trading volume of 1 billion shares.
The 30 biggest stocks tracker VN30-Index declined 0.38 per cent, to end at 1,566.55 points. Twenty-two in the VN30 basket decreased, while seven increased.
In the VN-30 basket, the worst performers were PetroVietnam Drilling and Well Services Corporation (PVD), falling 5 per cent, Sabeco (SAB) declining 2.4 per cent, Vietjet (VJC) losing 2.4 per cent, Tien Phong Bank (TPB) dropping 2.2 per cent, and PetroVietnam Gas JSC (GAS) down 1.8 per cent.
Oil and gas stocks also had a correction session after the previous few days of slight recovery. PetroVietnam Drilling and Well Services Corporation (PVD) moved down more than 5 per cent, Binh Son Refining and Petrochemical JSC (BSR) lost more than 4 per cent, PetroVietnam Technical Services Corporation (PVS) dropped 3 per cent. PVPower (POW), Vietnam National Petroleum Group (PLX), PVOil (OIL), PetroVietnam Gas (GAS) and Petrochemical and Bio-Fuel JSC (PVB) fell from 1 per cent to 2 per cent in the last session of the week.
“VN-Index failed to conquer a new peak and dropped to 1,493 points. Market breadth was skewed to the negative with losers twice as many gainers. In the next one or two sessions, the market may continue to move around the new peak of 1,500,” said BIDV Securities Co.
Foreign investors net sold VND2 trillion on HOSE. They were net sellers on HNX with a value of VND27.45 billion.
On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 0.23 per cent to end Friday at 458.63 points.
The index had risen 0.90 per cent to end Thursday at 459.67 points.
During the trading session, nearly 133.7 million shares were traded on HNX, worth nearly VND3.7 trillion.
