Investors accelerated profit-taking onMarch 16 on the HCM Stock Exchange, pushing the VN-Index down to 2.97percent to a close of 516.08 points.
The value of trades rose to 2.9 trillion VND (152.6 million USD) on avigorous volume of 66.2 million shares. Sacombank (STB) was themost-active share with 3.3 million traded.
On the Hanoi Stock Exchange, the HN-Index slid by 2.68 percent to168.67 points, on a volume of 40.3 million shares, worth a combined 1.4trillion VND (73.7 million USD). Kim Long Securities Co (KLS) made themost impressive showing on the day with a volume of 4.1 million shares.
Foreign investors turned out to be net sellers in HCM City by a net of500,000 shares, while they continued as net buyers on the northernbourse by a miniscule net of 18,500 shares.
Tai Viet Securities Co analyst Nguyen Quang Minh said thatprofit-taking pressures were much stronger than during Monday’ssession, while buy orders just focused mostly on small stocks.
Ocean Securities Co analyst Nguyen Manh Tien also agreed that risingstock prices over the past months had built up profit-taking pressures,adding that the markets were now in a consolidation phase.
Favourable signs in the local economy, including inflation forecast toremain under a percent this month, as well as good news coming out ofannual shareholders meetings, would strengthen confidence in marketprospect and lure new investment, Tien said, predicting the VN-Indexthis week would achieve a level of 545-550 points./.
The value of trades rose to 2.9 trillion VND (152.6 million USD) on avigorous volume of 66.2 million shares. Sacombank (STB) was themost-active share with 3.3 million traded.
On the Hanoi Stock Exchange, the HN-Index slid by 2.68 percent to168.67 points, on a volume of 40.3 million shares, worth a combined 1.4trillion VND (73.7 million USD). Kim Long Securities Co (KLS) made themost impressive showing on the day with a volume of 4.1 million shares.
Foreign investors turned out to be net sellers in HCM City by a net of500,000 shares, while they continued as net buyers on the northernbourse by a miniscule net of 18,500 shares.
Tai Viet Securities Co analyst Nguyen Quang Minh said thatprofit-taking pressures were much stronger than during Monday’ssession, while buy orders just focused mostly on small stocks.
Ocean Securities Co analyst Nguyen Manh Tien also agreed that risingstock prices over the past months had built up profit-taking pressures,adding that the markets were now in a consolidation phase.
Favourable signs in the local economy, including inflation forecast toremain under a percent this month, as well as good news coming out ofannual shareholders meetings, would strengthen confidence in marketprospect and lure new investment, Tien said, predicting the VN-Indexthis week would achieve a level of 545-550 points./.
