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Profit taking pulls down shares

Update: May, 23/2014 - 08:17
On HCM City Stock Exchange, the VN-Index lost 2.15 points or as much as 0.4 per cent to end at 541.73 points despite gain in the morning trading.— Photo tinnong

HA NOI (VNS) — Profit-booking activities had dragged shares down on both the national stock exchanges yesterday after four consecutive days of posting gains.

The red colour dominated the billboard with 145 decliners on HCM City Stock Exchange, overwhelming advancers, which numbered 82. On Ha Noi Exchange, losers outnumbered gainers by 146–71.

On HCM City Stock Exchange, the VN-Index lost 2.15 points or as much as 0.4 per cent to end at 541.73 points despite gain in the morning trading.

Not only speculative stocks posted losses, large-cap stocks also tumbled with the VN30-Index, tracking the performance of the southern bourse's largest stocks by capitalisation and liquidity, slid by 0.68 per cent to end at 592.75 points.

Only five blue chips managed to increase yesterday, including Vinamilk (VNM), Kinh Do Corporation (KDC), Hoa Phat Group (HPG), Bao Viet Holdings (BVH) and HCM City Infrastructure Investment Corporation (CII).

PetroVietnam Low-Pressure Gas Distribution (PGD) were among those with significant losses, tumbling 16.08 per cent to end at VND33,400 (US$1.59) a share.

Hoa Sen Group (HSG) dropped by 4.97 per cent to end at VND44,000 ($2.09) a share, among other decliners such as Masan Group (MSN) and Vingroup (VIC).

Profit-booking activities occurred on a large scale, but sellers remained calm and buyers boosted shares purchase. This helped boost the trading volume and value 26 per cent and 35 per cent, respectively, higher than the previous trading session.

After posting strong gains for two consecutive trading sessions, most stocks of the property and securities sectors declined yesterday.

FLC Group (FLC) was the most heavily traded stock on the southern bourse yesterday with more than 17.3 million shares changing hands, closing at its reference prices.

On Ha Noi Exchange, the HNX-Index dropped 1.31 per cent to 74.57 points while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, lost 1.41 per cent at 75.23 points.

The HNX30-Index closed 2.4 per cent lower at 147.76 points.

The trading volume and value slightly increased over the previous trading to reach 86 million shares and VND719 billion ($34.2 million).

Foreign investors bought a net volume of 2.5 million shares on both bourses yesterday, 85.55 per cent higher than the previous trading. However, they became net sellers by value of VND44.84 billion ($2.13 million), eight times higher than Wednesday trading. — VNS

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