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Large caps tumble on profit taking
Phuong Thao
Saturday,  Oct 7, 2017,23:29 (GMT+7)

Large caps tumble on profit taking

Phuong Thao

HCMC – Many large caps and banking stocks declined sharply on October 5, dragged by high selling pressure when the VN-Index neared the 810-point level before retreating.

Having climbed to VND40,000 in the morning phase, VCB lost 0.3% at VND38,700 per share at the close. The lender was the most actively traded stock in the VN30 basket with more than 5.6 million shares traded.
Steelmaker HPG fell 1.6% at VND39,000 a share on volume of 5.3 million shares. Meanwhile, GAS, a leading gas group, declined 2.2% at VND68,000 a share.

In contrast, CII jumped 4.3% at VND32,550 per share although foreigners net sold over 7.6 million CII shares. The infrastructure developer saw matching volume of around 6.7 million shares, marking the highest since April 7, 2016, according to

Besides, construction firm ROS extended its winning streak to the sixth straight day, closing at VND110,000 a share on matching volume of 1.3 million shares.

The VN-Index closed almost unchanged, losing a fractional 0.05% against the previous day at 805.23, with CII, ROS, consumer goods producer MSN and property firm VIC making the most positive moves.

Turnover on the HCMC market improved as volume and value gained 25.3% and 36.7% to 148.4 million shares worth over VND3.3 trillion. OGC, which is active in the finance sector, took the lead for liquidity with 8.4 million shares exchanged, followed by property firm FLC with 7.4 million shares and financial investment firm FIT with 7.3 million shares.

Among speculative stocks, mining firm AMD and agricultural company HAI went up to the ceiling prices of VND11,050 and VND8,090 a share. The two stocks reported matching volume of 1.7 million shares and nearly 2.3 million shares respectively.

The HNX-Index fell 0.44% at 106.96 while turnover increased 31.8% in volume and 40.1% in value to 47.2 million shares worth VND557 billion.

KLF, active in the trading and food service sector, hit the ceiling price of VND4,000 per share on matching volume of over 11 million shares. Earlier, KLF dropped for eight sessions in a row, including six sessions plunging to the floor price.

In the HNX30 basket, only four stocks managed to advance, in which MAS was the best performer for adding 2.3% at VND92,000 a share. However, the airport service provider reported modest volume of 52,000 shares.

Foreigners were active on the selling side on both exchanges. They net sold VND286 billion on the HCMC market and over VND14 billion on the Hanoi bourse.

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