HA NOI — Stocks rose for most of yesterday before sliding into the negative zone by the end of the session, putting the brakes on this week's rally.
|Investors monitor market movements at the offices of ACB Securities Co in Ha Noi. — VNS Photo Viet Thanh
"The market sentiment remained strong but some investors decided to take the margin on speculation of technical declines," FPT Securities Co's analysts wrote in their daily report yesterday.
The benchmark VN-Index on the HCM City Stock Exchange lost 0.91 per cent to finish yesterday's session at 424.47 points, stopping its three-day rising run.
Both trading volume and value were down about 16 per cent from a day earlier, totalling 73 million shares, worth nearly VND1.06 trillion (US$50.5 million).
Blue chips lost value in the last minutes, with the VN30 Index tracking the top 30 largest shares by market capitalisation and liquidity as sinking more than 1 per cent to 497.43. Among its 30 members, six advanced, 21 declined and three closed unchanged.
By the end of the session, only insurer Bao Viet Holdings (BVH) and Tan Tao Investment Industry (ITA) still closed at ceiling prices. ITA was the most active stock on a total trade of 9.7 million shares.
Losers outnumbered gainer by 142-100 overall.
On the Ha Noi Stock Exchange, the HNX-Index rose to 73.11 points in the morning before falling back to 72.19, a decrease of more than 1 per cent over Thursday's close.
Trading volume dropped 7.7 per cent from a day earlier to nearly 64 million shares, meanwhile value of trades reduced 4.5 per cent to just VND606.5 billion ($28.9 million).
Blue chips on the Ha Noi bourse also fell, with the HNX30 also down 1.17 per cent to 138.68 points.
Kim Long Securities (KLS) remained the most active in Ha Noi yesterday with 9.2 million shares traded, rising 2.9 per cent to VND10,500 (US50 cents).
Foreign investors turned to be net sellers on the HCM City's bourse yesterday, unloading shares worth VND35.4 billion ($1.7 million), but they still concluded as net buyers on the Ha Noi exchange with a net buy value of VND15.7 billion ($748,000).
According to Thomson Reuters, foreign investors poured a net value of $1.1 million into Viet Nam's stock market from July 1. However, they also withdrew $61.4 million from Viet Nam's market in the second quarter. — VNS