Profit taking pressures pushed down the Ho Chi Minh Stock Exchange (HoSE) Wednesday.
Speculative stocks massively plunged on the southern bourse. Mineral stocks continued deeply dropping, ending a long-lasting upswing. Binh Duong Mineral and Construction (KSB), Hamico Group Mineral (KSH), Binh Thuan Hamico Mineral (KSA), Nari Hamico Minerals (KSS), Binh Dinh Minerals (BMC), Bac Giang Exploitable Mineral (BGM), Tay Bac Minerals Investment (KTB) all hit the floor on big offering volumes.
Real estate stocks Tan Tao Investment Industry Corp. (ITA), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Becamex Infrastructure Development (IJC), Post and Telecommunications Investment and Construction (PTC), Petroleum Industrial and Civil Construction (PXI) sunk with nearly one million units sold each.
Meanwhile, major stocks were weak. Sacombank (STB) hit the floor, while Military Bank (MBB) and Eximbank (EIB) slipped. Vietcombank (VCB) just slightly added.
Pillar stocks Vincom Corp. (VIC), Bao Viet Holdings (BVH) and Masan Group (MSN) ended lower. Financial stocks Saigon Securities Inc. (SSI) and PetroVietnam Finance (PVF) ended flat. Some 108 stocks declined on the HoSE, compared with 159 up.
At the close, the benchmark VN-Index shed 0.45 points or 0.09 points to 487.62 points, after fluctuating during the session.
Securities company shares also being strongly sold on the northern bourse. VNDirect Securities (VND), Bao Viet Securities (BVS), Kim Long Securities (KLS), PetroVietnam Securities Inc. (PSI) all dropped on big offering volumes. Few stocks like Saigon-Securities (SHS) and Vietinbank Securities (CTS) ended higher, but saw just slight gains.
PetroVietnam-family stocks also plunged on locking profits pressure. Offering power overwhelming buying power pushing PetroVietnam Southern Gas (PGS), PetroVietnam-Nghe An Construction (PVA), PetroVietnam Drilling Mud Corp. (PVC) down. Other PetroVietnam-family stocks were sold.
However, speculative cash still strongly flew into a number of stocks, particularly low-price stocks. Tu Liem Urban Development (NTL), Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) both hitting the ceiling. Pha Lai Thermal Power (PPC) and Petro Capital Infrastructure Investment (PTL), PetroVietnam Transportation Corp. (PVT), Ninh Van Bay Real Estate (NVT) sharply rose on big buying power.
Speculative cash also helped Hanoi Stock Exchange (HNX) end higher. The benchmark HNX-Index added 0.12 points or 0.14 per cent to close at 83.76 points. Advancers strongly outran decliners 172 to 126.
Liquidity reduced on both bourses. HoSE’s total volume was of 113.9 million shares worth VND1.83 trillion ($88.3 million). The volume significantly reduced to 86.5 million shares worth VND986 billion ($47.6 million) on the HNX.