By Thuy Trieu - The Saigon Times Daily
HCMC - After five rising sessions in a row, the local stock market on Wednesday turned down as investors became so cautious, prompting the VN-Index to lose 1.6 points to 525.67.
The Hochiminh Stock Exchange reported the demand fell nearly 12% from the previous session to 102.8 million shares while the offer increased a slight 2.6% to 103 million shares. Closing the session, investors traded totally 57.9 million shares worth VND2.6 trillion, falling 7.2% and 4% respectively from the session earlier. 
However, rising stocks still outnumbered falling ones by 77 to 22, with 21 stocks hitting the ceiling and only two crashing to the floor. Despite the ebbing session, liquidity remained fairly high, suggesting that buyers were still calm.
Most of blue-chips including KBC, REE, VCB, VIC, SSI, STB, and VNM retreated, while some penny stocks like KSB, ASM, APC, and VIS jumped as much as they could.
Gemadept (GMD) turned to lead the market in terms of volume with 3.4 million shares changing hands and its price increasing 5% to VND84,500 each. Sacombank (STB), the second most traded stock, fell 0.4% to VND23,900 on a trade volume of 2.5 million shares.
Foreign investors were active buyers as they acquired 2.7 million shares worth VND140.8 billion and offloaded 2.2 million shares worth VND105.4 billion.
APEC Securities Co. noted that the southern stock market remained firm in the uptrend but it would be so hard to break the level of 534 points this week.
Hochiminh City Securities Corp. (HSC) said both markets experienced mild profit taking after several days of nice gains. “However volumes remained high and the corrections were quite shallow and therefore we see this as more of a consolidation than anything else,” it said.
The company gave positive comment that on Wednesday’s small correction was perfectly healthy and when seen in the context of recent gains was most likely setting the stage for further gains to come. “The most important point is that volumes remain very high and that neither index looks too overbought,” it said.
“Sellers have closely matched buyers on the way up and as we had mentioned we seem to be enjoying a moderate rally based on relatively better macroeconomic fundamentals,” said the broker.
Meanwhile, Vietnam International Securities Co. expected that the profit taking trend would continue today and the VN-Index would move around 525 points.
Similar to the southern bourse, Hanoi market lost steam, shedding a marginal 0.61 point to 172.09. The market’s total trading volume was 38.3 million shares worth VND1.3 trillion, rising 15.3% and 12.5% respectively from the session earlier.
There were 79 stocks rising and 156 others falling, including three stocks hitting the ceiling prices and only one dropping to the floor price. Foreigners accounted for 1.1% of the buying value and 2.2% of the market’s selling value. In total foreigners turned net sellers of VND13.4 billion worth of shares.