Stocks managed to close in the green on HCM City's exchange this morning but they plunged on the Ha Noi bourse due to heavy profit-taking activities by many investors.
HA NOI – Stocks managed to close in the green on HCM City's exchange this morning but they plunged on the Ha Noi bourse due to heavy profit-taking activities by many investors.
In HCM City, the VN-Index opened up over 1.8 per cent but declined gradually toward the end of the session before closing essentially unchanged at 401.74 points, with 151 out of 293 codes losing value.
Blue chips were mixed. While property developer Hoang Anh Gia Lai (HAG) continued its seven-day winning streak by hitting its ceiling price, dairy giant Vinamilk (VNM), Phu My Fertiliser (DPM), software producer FPT Corp (FPT) and Sacombank (STB) lost from 0.6-2.8 per cent.
Others increased slightly or closed unchanged.
Market volume climbed nearly 56 per cent over yesterday with more than 68.5 million shares changing hands while the value of trades rose by more than 35 per cent to almost VND966.8 billion (US$46 million).
Military Bank (MBB) was the most active stock on the southern bourse with over four million shares changing hands, closing up 1.6 per cent to VND12,800 ($0.61).
In Ha Noi, the benchmark HNX-Index declined 1.15 per cent to conclude today's session at 61.85 points.
Heavy profit-taking pushed market volume up 76 per cent yesterday to 57.5 million shares while trading value also soared 63 per cent to more than VND441 billion ($21 million).
Losers outnumbered gainers by 164-104, with many speculative shares losing value, including Kim Long Securities Co (KLS) down 3.2 per cent; VNDirect Securities (VND), 1.3 per cent; Bao Viet Securities (BVS), 1.9 per cent; and Viet Hai Shipping and Real Properties Corp (VSP), 5.3 per cent.
PetroVietnam Construction (PVX) continued to be the most heavily-traded stock nationwide on a volume of nearly seven million shares. PVX bucked the trend to post a gain of 2.4 per cent to close at VND8,400 a share. – VNS