HA NOI — Shares slid during trading yesterday on both of the nation's stock exchanges.
On the HCM City bourse, the VN-Index pared earlier gains to close off by 0.74 per cent from the previous day's close to 410.91 points.
Heavy profit-taking lifted the volume of trades by 20.6 per cent over Monday's level to over 59 million shares, while market value also rose 15.5 per cent to VND791 billion (US$37.6 million).
The VN30 also declined by 0.7 per cent to 462.27 points. The 30 stocks tracked by the index accounted for VND452.8 billion ($21.5 million).
Of the 10 leading blue chips, only Vietinbank (CTG) and real estate developer Hoang Anh Gia Lai (HAG) ended the session in positive territory. Food processing giant Masan Group (MSN) dived by 2.7 per cent yesterday, even as Kim Eng Securities Co analyst Nguyen Thi Ngan Tuyen was recommending that investors hold the stock in their portfolios.
"The shares increase by more than 20 per cent, exceeding our expected price," she said, noting that Masan had also recently acquired a controlling interest in Vinacafe Bien Hoa (VCF) and stakes in Techcombank and the Nui Phao mining project.
"Its price reflects the actual growth of the company, and investors can enjoy a price-to-earnings ratio of 19," Tuyen said.
Saigon Securities Inc (SSI), Military Bank (MBB), construction firm Licogi (LCG), investment group Tan Tao (ITA) and Becamex Infrastructure (IJC) all felt sell pressures yesterday.
Eximbank (EIB) was the most-active share in HCM City with over 4.1 million traded.
On the Ha Noi Stock Exchange, the HNX-Index lost 0.6 per cent to close at 63.89 points. Trading value soared 47.5 per cent over the previous day to VND648.3 billion ($30.8 million), on a volume of 80.6 million shares.
PetroVietnam Construction Co (PVX) surprised as the most-active share, with some 10.6 million exchanged. PVX finished the morning up 4.6 per cent at VND9,100 per share. Habubank (HBB), which led the market on Monday in terms of volume, saw a decline of 45 per cent in volume and was responsible yesterday for 7.2 million shares traded. — VNS