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Profit-taking pressure drags VN-Index down

The Saigon Times

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HCMC – Profit-taking pressure and poor performance of large caps pulled the VN-Index of the Hochiminh Stock Exchange down at the close today, December 29.

Market breadth turned negative as losers outnumbered gainers by 248 to 196. The main index lost 8.57 points, or 0.57%, from the session earlier, at 1,485.82.

Trade volume totaled over 843 million shares worth VND25.5 trillion, down 15% and 12% from the day earlier, respectively. There were 50 million shares valued at VND2.2 trillion traded in block deals.

Real estate developer VIC reported the sharpest drop at 2.9% in the VN30 basket, while housing developer VHM dipped by 1.3%.

Jewelry maker PNJ, rubber group GVR and lenders STB and TPB were among major drags on the southern bourse.

Bank stocks VCB and TCB, real estate company PDR, mobile phone retailer MWG, tech giant FPT, gas firm GAS and dairy producer VNM were in negative territory as well.

On the positive side, securities firm SSI made a strong gain and reported a matching volume of 9.8 million shares, while housing firm KDH added 1% at the end. Some bank tickers, including VIB, LPB, SSB and MBS, improved over 1.3%.

Construction firm ROS continued its upward trend and took the lead by liquidity on the southern bourse with over 35 million shares transacted.

The HNX-Index of the Hanoi Stock Exchange inched down 0.05%, or 0.22 points, against the previous session, at 457.83. Over 116 million shares worth VND3.4 trillion changed hands, down 22% in volume and 16.5% in value, from the day earlier.

Among large-cap stocks, property firm KSF reported the strongest rise at 4.4%, while securities firm SHS advanced 1.2%.

Construction firm CEO closed the session up and was the most actively traded stock on the northern bourse with 9.8 million shares traded.

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