Profit-taking drives stocks down

Profit-taking caused stocks to fall again in both domestic markets. In HCM City, the VN-Index fell 1.51 per cent to close at 464.35 points.

Trading was poor with 24.1 million shares changing hands, valued at VND483.2 billion ($23 million). There were 195 losers today compared to 182 yesterday.

Among the 10 largest capitalised stocks, four hit their floor price: Masan Group (MSN) was down 4.3 per cent to VND112,000, resort developer Vinpearlland (VPL) down 4.5 per cent to VND64,000, property developer Vincom (VIC) down 4.8 per cent to VND118,000 and property developer Hoang Anh Gia Lai (HAG) down 4.9 per cent to VND38,700.

Vietcombank (VCB) retained yesterday's gain of 4.7 per cent despite analysts' forecasts its rally would end and its impact on VN-Index wouldn't be as significant as MSN or insurer Bao Viet Holdings (BVH). Blue chip dairy producer Vinamilk (VNM) also closed up 2.7 per cent.

Saigon Securities Inc (SSI) was most active with nearly 1.1 million shares sold, up 2 per cent to VND19,400.

In Ha Noi, the HNX-Index closed down (1.75 per cent) for the sixth day at 79.56 points.

The total volume was 24.9 million shares valued at VND301.1 billion ($14.3 million). Coffee exporter Thai Hoa Viet Nam Group (THV) was prime mover on a volume of 2.1 million shares.

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