|An investor traces market changes at Hoang Gia (Royal) Securities Co. — VNS Photo Truong Vi
HA NOI (VNS) — Shares lost gains at the end of yesterday's session, pulled down by selling pressure in the afternoon.
On the HCM Stock Exchange, the VN-Index slid from a three-month high to end yesterday's session at 570.31 points, off 0.81 per cent from Monday's close.
Blue chips were the main losers, with the VN30 falling 0.84 per cent to conclude at 588.63 points.
Bank stocks also retreated after many days of substantial gains except Vietcombank (VCB), that posted modest growth of 0.4 per cent yesterday. Other big lenders including Eximbank (EIB), Vietinbank (CTG) and Sacombank (STB) dived around 3 per cent, while Military Bank (MBB) and BIDV (BID) lost 2 per cent and 1.4 per cent, respectively.
"The market was largely backed by bank stocks on Monday. If you leave out this impact, the market is clearly undergoing a downward correction," analysts at Sai Gon-Ha Noi Securities Co. wrote in a note.
These analysts said many sales orders were put below their reference prices, while intra-day trading of blue chips was less positive under high profit-taking pressure.
The market finished negative as losers outnumbered gainers by 147-67, while 89 closed flat.
The market volume yesterday was little higher than Monday, totaling nearly 124 million shares, while the value of trades increased 10 per cent to reach more than VND1.9 trillion (US$87.6 million).
Property developer FLC Group (FLC) continued to dominate trading in the HCM City market, with 15.4 million shares exchanged and a gain of 1.1 per cent to finish the session at VND9,100. This figure far surpassed the second most active stock Saigon Securities Inc (SSI) at nearly 9 million shares.
On the HaNoi Stock Exchange, the HNX-Index also slipped 0.88 per cent under profit taking pressure, finishing the session at 83.15 points.
The HNX30 also sank 0.65 per cent to end at 158.02 points.
Speculation still buoyed trades as the market volume climbed 20 per cent over Monday to reach nearly 54 million shares, while the trading value rose 25 per cent to VND641 billion ($29.5 million).
F.I.T Investment Co (FIT) was the most active code yesterday, with trades of 6.8 million shares. Its prices also jumped 3.5 per cent to settle at VND14,700 ($0.68).
Foreign investors extended their net buying streak yesterday, picking up shares worth a combined VND158 billion ($7.3 million) in the two markets. — VNS