Shares plunge on profit-taking

The trading volume surged in HCM City following heavy sell-offs, causing the VN-Index to close down 1.13 per cent at 367.55 points, with losers outnumbering gainers by 174-57.

The market value of sales on the HCM Stock Exchange reached VND850.4 billion (US$40.5 million), jumping 59 per cent over yesterday's level, on a volume of 58.15 million shares.

Blue chips were mixed. Of the 10 leading shares by capitalisation, Phu My Fertiliser (DPM) and food processor Masan Group (MSN) hit their floor prices while property developer Vincom (VIC) increased by the permitted 5 per cent to VND94,500 ($4.50) per share.

Hotel and entertainment service provider Vinpearl (VPL) added 3.5 per cent and steelmaker Hoa Phat (HPG) edged up 0.5 per cent. Most of the other large-cap shares retreated or closed unchanged.

Sacombank (STB) was the most active stock with more than 2.2 million shares changing hands.

On the Ha Noi Stock Exchange, the benchmark HNX-Index slid 1.6 per cent, reaching only 59.64 points.

Losers overwhelmed gainers by 189-57.

The value of trades climbed 38 per cent against yesterday's session, totalling VND282.3 billion ($13.4 million) as trading volume hit 33.9 million shares.

Kim Long Securities Co (KLS) saw the highest trade nationwide of 5.2 million shares exchanged. However, it fell 3 per cent to VND9,600 per share.

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