Business

Shares mixed on profit-taking pressure

Shares extended gains on the HCM Stock Exchange on May 4 but corrected down on the Hanoi Stock Exchange given stronger profit-taking pressure.
Shares mixed on profit-taking pressure ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Shares extended gains on the HCM Stock Exchange on May 4 butcorrected down on the Hanoi Stock Exchange given stronger profit-takingpressure.


In HCM City, the benchmark VN-Index added 0.34 percent to close at 722.02points. The Index gained over 2 percent in the last five sessions and hasexpanded 8.6 percent this year.

On the Hanoi bourse, the HNX-Index sank for thefirst time in the last four trades, edging down 0.33 percent to end at 89.52points. The northern market index has climbed 11.7 percent since December 30,2016.

Banks continued to be the major support for themarket.

Five of nine listed banks on the two mainexchanges advanced and only two declined.

Sacombank (STB) was the biggest gainer, up 4.3percent, after the bank reported its pre-tax profits increasing 50 percentyear-on-year in the first quarter.

The three largest lenders – BIDV (BID), Vietcombank (VCB) and Vietinbank (CTG)– grew between 1.2-2.3 percent each. Profits of these banks all surpassed 2trillion VND (88 million USD) in the first three months of this year.

Many large-cap stocks in the VN30 basket which tracks the top 30 shares bymarket value and liquidity on the HCM Stock Exchange also advanced oninformation of high dividend payment, such as Vinamilk (VNM), steelmakers HoaPhat Group and Hoa Sen Group (HSG), Saigon Securities Inc (SSI) and foodproducer Kido Group (KDC).

On the defensive side, some blue chips remainedin a downward cycle including real estate developers VinGroup (VIC) andNovaland Investment Group (NVL), brewery Sabeco (SAB), food producer MasanGroup (MSN), PetroVietnam Drillings and Well Service (PVD) and PetroVietnamTechnical Services (PVS).

“After five straight sessions of rallying, the VN30 Index is approaching thestrong resistance at 685-690, the boundary deciding whether the VN-Indexsurpasses medium-term peak at 720”, stock analyst Tran Duc Anh at Bao VietSecurities Co wrote in the May 4 market report.

Anh maintained a cautious view on market outlookand suggests investors make short-term trading or reduce stock exposure belowthe moderate level.

Trading volume decreased slightly on May 4, totaling nearly 268 million sharesworth a combined 5.2 trillion VND (229 million USD) in the two markets. Thesefigures were still 24.4 percent and 22.4 percent higher than the average dailytrading volume and value of last week.

Foreign investors returned as net buyers in HCM City’s market on May 4 for a modestnet value of 55 billion VND while they extended their net buying streak to foursessions in a row with a net value of 3.8 billion VND, up 160 percent over May3’s value on Hanoi’s exchange.-VNA

VNA
#shares #HCM Stock Exchange #Hanoi Stock Exchange #VN-Index #HNX-Index #profit-taking pressure #large-cap stocks
Follow VietnamPlus

Related News

Stocks poised to rise further this week

Stocks poised to rise further this week

Vietnamese stock indices may rise further and test their resistance levels this week on higher invstors confidence, bolstered by positive developments in global political conditions and good earnings reports.
Shares upbeat after holiday weekend

Shares upbeat after holiday weekend

Shares advanced during the first session on May 3 after the National Reunification and International Labour holidays as investors remained positive about the market outlook.
Sabeco reports 18 percent rise in profit

Sabeco reports 18 percent rise in profit

Saigon Beer, Alcohol and Beverage Corporation (Sabeco) announced its net profit in the first quarter of 2017 rose 18.8 percent year-on-year to 1.12 trillion VND (49.78 million USD).

See more

Prime Minister Le Minh Hung and his Cambodian counterpart Hun Manet witness the exchange of cooperation agreements between businesses of the two countries (Photo: VNA)

Vietnam, Cambodia look to elevate economic links

Prime Minister Le Minh Hung said that economic, trade and investment cooperation constitutes an important pillar of bilateral ties, which has achieved positive results. However, considerable room remains for further expansion to match the strong political ties and the potential of both countries.

An overview of the meeting (Photo: chinhphu.vn)

Deputy PM calls for tighter price management of essential goods

Deputy PM Thang, who is also head of the committee, urged ministries and agencies to coordinate closely to deliver effective fiscal and macroeconomic policies. The aim is to control inflation, stabilise the macroeconomy, ensure major economic balances, create room to support growth and bolster the economy’s resilience to external shocks.

Khanh Binh International Land Border Gate in An Giang province.( Photo: VNA)

Vietnam-Cambodia trade gathers pace towards 20 billion USD target

After setting a record of more than 11.3 billion USD in 2025, bilateral trade reached about 8.7 billion USD in the first eight months of 2026, up 8.3% year on year. Vietnam is currently Cambodia’s third-largest trading partner, its second-largest source of imports and second-largest export market.

Vietnamese Ambassador to India Trinh Minh Manh discusses potential areas and strengths for cooperation between Vietnam and India’s Gujarat state. (Photo: VNA)

Vietnam, India’s Gujarat state seek to unlock cooperation potential

Vietnam attaches importance to strengthening cooperation with Indian states boasting strong economic potential, including Gujarat, to further advance the two countries’ Enhanced Comprehensive Strategic Partnership, particularly in the economy, trade and investment, said Ambassador Trinh Minh Manh.

At Nestlé Vietnam factory in Hung Yen province (Photo: VNA)

Vietnam seeks to build stronger ecosystem for FDI

The World Bank has stressed the need to connect global companies with domestic suppliers, improve the business climate and develop supply-chain finance solutions. Those steps will let domestic firms gradually meet requirements on quality, technology, costs and delivery times, and position them to become suppliers to multinational corporations.

Construction of technical infrastructure facilities serving APEC 2027 in Phu Quoc Special Zone, An Giang province. (Illustrative photo: VNA)

Vietnam enters investment grade credit rating category for first time

Vietnam has maintained robust growth, outperforming other Southeast Asian economies. Its ongoing government reforms aimed at streamlining the state apparatus, promoting the private sector, improving the institutional framework and developing capital markets will strengthen the country’s growth potential and economic resilience.

Vietnamese Prime Minister Le Minh Hung and Lao Prime Minister Saleumxay Kommasith witness the presentation of investment certificates and investment cooperation agreements between businesses of the two countries. (Photo: VNA)

Vietnam, Laos strengthen “strategic cohesion” in economic sector

The great friendship, special solidarity, comprehensive cooperation and strategic cohesion between Vietnam and Laos, and between Laos and Vietnam, are an invaluable asset of the Vietnamese and Lao Parties, States and people. It is the responsibility of today's generation to transform this invaluable political asset into new resources for the development of the two countries’ people.

West Food Hau Giang JSC’s factory at the Nam Song Hau Industrial Park – Phase 1, Can Tho city (Photo: VNA)

Southern industrial property market enters new phase of competition

Industrial site selection was previously driven largely by land prices, location and access to markets. However, as supply chains become more complex and manufacturing projects face higher technical requirements, businesses are increasingly assessing sites based on their long-term operational capabilities.

Members of the RoK delegation visit booths showcasing signature agricultural products of Da Lat – Lam Dong. (Photo: VNA)

Lam Dong seeks stronger economic, tourism links with RoK

Lam Dong is particularly interested in sectors in which Korean businesses have strengths, including agriculture, green energy, the circular economy, high-quality tourism, healthcare, education, human resources training and digital transformation, an official said.

Illustrative image (Photo: EVNNPT)

EVNNPT seeks over 224 mln USD in bank loans for grid expansion

Three projects account for part of the financing need, including 13.3 million EUR for the 220kV Ung Hoa substation and connection lines, 18.6 million EUR for the 220kV Tan Viet substation and the 220kV Tan Viet–Gia Loc–Pho Noi line, and 35.3 million EUR for the 220kV substation connecting the Dong Anh–Van Tri transmission line.

At a farm produce supermarket in Hue city (Photo: VNA)

Inflation control key to maintaining growth momentum

Average consumer price index (CPI) rose 4.52% in the first nine months, roughly in line with the National Assembly (NA)'s full-year target, while core inflation climbed 4.26%, the National Statistics Office (NSO) reported. CPI in some localities ran above the national average, including economic hubs Hanoi and Ho Chi Minh City.