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Large-caps drag VN-Index down
The VN-Index retreated from the 600 points landmark yesterday, losing 0.58 per cent to close the session at 596.91 points, as selling pressure increased.
Blue chips were the main drag as 20 of the top 30 shares by market value and liquidity on the HCM Stock Exchange lost value, pushing the VN30 down 0.71 per cent to end at 625.25 points.
Bank shares were the biggest losers with Vietcombank (VCB), Eximbank (EIB), Vietinbank (CTG), Military Bank (MBB) and Bank for Investment and Development of Vietnam (BID) all falling.
Other large-cap shares like Vinamilk (VNM), Masan Group (MSN), VinGroup (VIC) and Bao Viet Holdings Co (BVH) also slipped.
The market condition was negative with losers outnumbering gainers by 114-92, while the other 99 codes remained flat.
According to analysts at FPT Securities Co, many investors decided to sell shares to lock in profits after the market surpassed the 600-points threshold for the first time in three and a half months.
Liquidity continued to rise yesterday. Market volume grew 10 per cent over Wednesday to reach more than 134 million shares, while the value of trades climbed 20 per cent to VND2.46 trillion (US$115 million).
FLC Group (FLC) yesterday reclaimed the most active position with 10.8 million shares traded, rising 1 per cent to finish at VND11,300 ($0.53).
The morning's most active code H.A.I Agrochem Co (HAI) came second with 9.3 million shares changing hands, but fell by 1.89 per cent to close at VND15,600 ($0.73).
On the Ha Noi Stock Exchange, the HNX-Index also declined by 0.05 per cent to close at 86.81, despite a positive morning session.
The market breadth was rather neutral with 105 stocks rising, 92 falling and 166 unchanged.
Trading was positive with total volume up 10 per cent over Wednesday to reach nearly 55 million shares, while the market value increased 20 per cent to VND768 billion ($60 million).
Sai Gon Thuong Tin Real Estate Co (SCR) was the leading share in terms of trading volume yesterday, with 5.2 million shares exchanged. The shares added 1.2 per cent to end at VND8,200 each.
Foreign buys declined yesterday on the two markets but they still concluded the session as net buyers here, picking up combined shares worth VND52.17 billion ($2.4 million).
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