Investors follow transactions at Sài Gòn Securities Inc. Liquidity increased slightly with about 121 million shares worth over VND2.7 trillion (US$121 million) traded yesterday on the HCM Stock Exchange. — VNA/VNS Photo Đức Long

HÀ NỘI – Shares sunk for a second day on the HCM Stock Exchange yesterday under heavy profit-taking selling pressure while investors became cautious ahead of the release of the third-quarter earnings of companies.

The benchmark VN-Index, the measure of 312 stocks, lost 0.4 per cent to close at 683.1 points after reaching nearly 689 points in the early morning trade. Slumps of large-cap stocks weighed on the market.

The Index climbed for nine consecutive sessions before landing down 0.4 per cent on Friday.

Only two of the 10 biggest stocks by market value on the southern bourse increased, including dairy giant Vinamilk (VNM) and PV Gas (GAS), both up less than 1 per cent, while another six tumbled.

Property developer VinGroup (VIC) was the largest loser, decreasing 3.4 per cent yesterday. VIC shares declined 4.4 per cent in the last two trades after the company announced its plan of changing Vinschool and Vinmec, its education and hospital arms, to a non-profit model.

Steelmaker Hòa Phát Group (HPG) followed with a drop of 2.6 per cent in value.

These two shares were also on the top list of the most sold shares by foreign investors yesterday. Foreigners were responsible for a net sell value of nearly VNĐ29 billion for VIC shares and VNĐ23 billion for HPG shares.

The market breadth was negative with the losing shares outnumbering the gaining ones by 131-122 while 59 closed unchanged.

Liquidity increased slightly with more than 121 million shares worth over VNĐ2.7 trillion (US$121 million) traded by the end of the session.

Overseas investors returned to net selling in HCM City’s market after two net buying days. They offloaded 5.4 million shares worth a net value of nearly VNĐ153 billion yesterday.

In the first nine months of this year, foreigners were responsible for total net sell value of VNĐ5.3 trillion. This is in contrast to the fact that they were net buyers for a total value of VNĐ3.5 trillion in the same period of last year.

On the smaller exchange in Hà Nội, the foreign sector was net buyers for a total value of nearly VNĐ1.2 trillion during January-September.

The HNX-Index on the Hà Nội Stock Exchange was up 0.4 per cent to end at 85.4 points with over 36 million shares worth VNĐ460 billion exchanged.

According to analysts at VP Bank Securities Co, the market is exposed to downward risk after a long-run winning period. In the context of current low deposit rates and incoming third-quarter earnings season, investors will likely maintain their investments in the securities market. – VNS