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Profit-taking continues to depress shares
Active profit-taking this morning continued to depress shares on both stock exchanges, with the two benchmark indices losing value.
On the HCM City Stock Exchange, the VN-Index closed down to 441.45 points, posting a tiny loss of 0.02 per cent. Both trading volume and value decreased by around 19 per cent from yesterday to 49.9 million shares worth nearly VND859.9 billion (US$41.7 million).
Losers outnumbered gainers by five-to-one. About 55 per cent of losers dropped to their floor prices, many of which had earlier hit their 5 per cent ceiling for several successive sessions, including a number of shares under the PetroVietnam umbrella.
Large caps helped cushion the fall, with insurer Bao Viet Holdings (BVH) rising 4.3 per cent; food producer Masan Group (MSN) gaining 2.6 per cent; and real estate developer Vincom (VIC) hitting its ceiling for the third successive session.
Saigon Securities Inc (SSI) continued to be the most actively traded, with 4 million shares changing hands, but it closed down 5 per cent at VND19,000 ($0.92).
On the Ha Noi Stock Exchange, the HNX-Index lost another 2.23 per cent to close at 77.74 points.
Trading value and volume halved from yesterday to 47.8 million shares worth VND584.8 billion ($28.4 million).
Decliners largely outnumbered advancers by 270-44.
Kim Long Securities (KLS) was still the most heavily-traded stock nationwide, with 7 million shares exchanged, however, it to fell to its floor price, closing at 11,400 ($0.55).
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