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Profit-taking drags shares down
Shares on both national bourses slumped during Wednesday morning's session, following an encouraging rally.
On the HCM Stock Exchange, the VN-Index dropped 0.5 per cent to close at 466.99 points. Losers outnumbered gainer by 138-107.
The value of the day's trades increased 8 per cent over yesterday to nearly VND1.3 trillion (US$62.8 million), while volume rose by 13 million shares to 81.4 million.
Bluechips tumbled, with the majority of the 10 leading shares by capitalisation losing between 0.6-3.8 per cent.
However, insurer Bao Viet Holdings (BVH) was able to reach its ceiling price for the seventh consecutive session, closing at VND82,000. Food processor Masan (MSN) gained 2.7 per cent, PetroVietnam Finance (PVF) gained 2.6 per cent, and Sacombank (STB) edged up 0.7 per cent.
Telecommunications equipment provider Sacom (SAM) was the most-active code in HCM City, with 4.3 million shares changing hands. It closed up 4.1 per cent at VND7,600.
On the Ha Noi Stock Exchange, the HNX-Index dived 2.4 per cent to conclude the session at 77.33 points.
Profit-taking made trading volume increase to nearly 94.8 million shares, up 53.2 per cent from yesterday. Trading value also rose 42.6 per cent to VND1.1 trillion ($53.1 million).
Kim Long Securities Company (KLS) saw the highest trading volume nationwide, with 10.2 million shares exchanged. However, it slid 4.4 per cent to end at VND12,600.
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