Shares failed to sustain their morning gains on September 4 under heavy profit-taking pressure after a long rally.

The development follows forecasts by securities firms that expect the market to go into a correction phase after hitting a six year and a half high. However, strong cash flows have helped cushion the drop-off.

On the Hochiminh Stock Exchange, the benchmark VN-Index inched down just 0.08 percent to close September 4 session at 640.22 points.

Blue chips were the main drag as many of the top 30 shares by market value and liquidity lost value, including Vinamilk (VNM), VinGroup (VIC), Bao Viet Holdings (BVH), Ocean Group (OGC), Saigon Securities Inc (SSI) and Hoa Sen Group (HSG).

The VN30 decreased 0.05 percent to end at 678.59 points.

Liquidity declined, with the market volume falling 20 percent from the previous session. Around 163 million shares were traded for 3 trillion VND (142 million USD), down 15 percent in value.

Value of negotiated transactions was high at nearly 518 billion VND (24.5 million USD), mainly from blue chips like FPT Corporation (FPT) with 254 billion VND (12 million USD) and Kinh Bac City Development (KBC) with 90.4 billion VND (4.3 million USD).

However, FLC Group (FLC) remained the most active code on the exchange with trades of 11.7 million shares, slipping 1.52 percent to close at 13,000 VND.

On the Hanoi Stock Exchange, steady demand helped lift the HNX-Index 0.2 percent to finish at 87.50 points.

Market volume remained high at nearly 94 million shares worth over 1 trillion VND (47.4 million USD).

Hot stocks including PetroVietnam Construction (PVX), FLC Joint Venture Global Investment Co (KLF), Sacomreal (SCR), PetroVietnam Technical Services (PVS) and PetroVietnam Drilling Mud (PVC) attracted high investment, of which PVX led the market with a volume of 13 million shares. PVX ended flat at 5,700 VND.

Foreign traders were net buyers in HCM City with a value of 156 billion VND (7.4 million USD), but turned their heads in Hanoi, unloading shares worth 15.4 billion VND (727,500 USD).-VNA