Shares plunged on May 5 on both national stock exchanges, dragging the indices down from six-month highs as investors sold to realise profit on the back of steep global slumps.
On the HCM Stock Exchange, the VN-Index lost 0.2 percent to close the day’s trades at 548.01. Trading volume declined slightly to 85.7 million shares, worth a combined 3.25 trillion VND (171 million USD).
The index had surpassed the 550 resistance mark to reach 552 points, but profit-taking caused 52 percent of codes to lose value.
Bank shares tumbled on May 5 after May 4’s gains with Eximbank (EIB), Sacombank (STB), Vietcombank (VCB) and Vietinbank (CTG) reporting losses, but several large caps snapped to ceiling prices, including PetroVietnam Finance (PVF), PetroVietnam Transportation (PVT) and Masan Group (MSN).
Penny stocks continued to perform well, such as Housing Vietnam Co (NVN), Post and Telecommunications Investment and Construction Co (PTC), Sao Mai Construction Corp (ASM).
On the Hanoi Stock Exchange, the HNX-Index declined by 0.6 percent to 183.21 while trading value rose by 40 percent to over 62.3 million shares for a brisk combined value of 2 trillion VND (105.3 million USD).
Losers outnumbered gainers by 147-123. Among the 70 codes closing at the highest intraday prices, many were penny stocks such as Hanoi Milk Co (HNM), Hai Phong Petrolimex Transportation and Services Co (PTS), Cotec Investment Land-House Development Co (CIC) and Vinaconex shares such as V11, V12, V15 and V21.
Most of blue-chips fell on May 5, including Asia Commercial Bank (ACB), Kim Long Securities Co (KLS), Vinaconex (VCG), PetroVietnam Technical Services Corp (PVS).
PetroVietnam Construction (PVX), meanwhile, closed up and was the most active share on the bourse with nearly 9.9 million units changing hands.
Though many analysts agreed on May 5’s correction was predictable after a long and continuous rise, they believed the market was likely to rise in the medium to long term./.
On the HCM Stock Exchange, the VN-Index lost 0.2 percent to close the day’s trades at 548.01. Trading volume declined slightly to 85.7 million shares, worth a combined 3.25 trillion VND (171 million USD).
The index had surpassed the 550 resistance mark to reach 552 points, but profit-taking caused 52 percent of codes to lose value.
Bank shares tumbled on May 5 after May 4’s gains with Eximbank (EIB), Sacombank (STB), Vietcombank (VCB) and Vietinbank (CTG) reporting losses, but several large caps snapped to ceiling prices, including PetroVietnam Finance (PVF), PetroVietnam Transportation (PVT) and Masan Group (MSN).
Penny stocks continued to perform well, such as Housing Vietnam Co (NVN), Post and Telecommunications Investment and Construction Co (PTC), Sao Mai Construction Corp (ASM).
On the Hanoi Stock Exchange, the HNX-Index declined by 0.6 percent to 183.21 while trading value rose by 40 percent to over 62.3 million shares for a brisk combined value of 2 trillion VND (105.3 million USD).
Losers outnumbered gainers by 147-123. Among the 70 codes closing at the highest intraday prices, many were penny stocks such as Hanoi Milk Co (HNM), Hai Phong Petrolimex Transportation and Services Co (PTS), Cotec Investment Land-House Development Co (CIC) and Vinaconex shares such as V11, V12, V15 and V21.
Most of blue-chips fell on May 5, including Asia Commercial Bank (ACB), Kim Long Securities Co (KLS), Vinaconex (VCG), PetroVietnam Technical Services Corp (PVS).
PetroVietnam Construction (PVX), meanwhile, closed up and was the most active share on the bourse with nearly 9.9 million units changing hands.
Though many analysts agreed on May 5’s correction was predictable after a long and continuous rise, they believed the market was likely to rise in the medium to long term./.
