Investors accelerated profit-taking on March 16 on the HCM Stock Exchange, pushing the VN-Index down to 2.97 percent to a close of 516.08 points.
The value of trades rose to 2.9 trillion VND (152.6 million USD) on a vigorous volume of 66.2 million shares. Sacombank (STB) was the most-active share with 3.3 million traded.
On the Hanoi Stock Exchange, the HN-Index slid by 2.68 percent to 168.67 points, on a volume of 40.3 million shares, worth a combined 1.4 trillion VND (73.7 million USD). Kim Long Securities Co (KLS) made the most 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 of 500,000 shares, while they continued as net buyers on the northern bourse by a miniscule net of 18,500 shares.
Tai Viet Securities Co analyst Nguyen Quang Minh said that profit-taking pressures were much stronger than during Monday’s session, while buy orders just focused mostly on small stocks.
Ocean Securities Co analyst Nguyen Manh Tien also agreed that rising stock 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 to remain under a percent this month, as well as good news coming out of annual shareholders meetings, would strengthen confidence in market prospect and lure new investment, Tien said, predicting the VN-Index this week would achieve a level of 545-550 points./.
The value of trades rose to 2.9 trillion VND (152.6 million USD) on a vigorous volume of 66.2 million shares. Sacombank (STB) was the most-active share with 3.3 million traded.
On the Hanoi Stock Exchange, the HN-Index slid by 2.68 percent to 168.67 points, on a volume of 40.3 million shares, worth a combined 1.4 trillion VND (73.7 million USD). Kim Long Securities Co (KLS) made the most 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 of 500,000 shares, while they continued as net buyers on the northern bourse by a miniscule net of 18,500 shares.
Tai Viet Securities Co analyst Nguyen Quang Minh said that profit-taking pressures were much stronger than during Monday’s session, while buy orders just focused mostly on small stocks.
Ocean Securities Co analyst Nguyen Manh Tien also agreed that rising stock 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 to remain under a percent this month, as well as good news coming out of annual shareholders meetings, would strengthen confidence in market prospect and lure new investment, Tien said, predicting the VN-Index this week would achieve a level of 545-550 points./.
