Stocks on the HCM City Stock Exchange managed to close in positiveterritory on Feb. 3, but shares plunged on the Hanoi bourse due toheavy profit-taking.
In HCM City , the VN-Index roseby as much as 0.03 percent early in the session but declined againgradually before closing essentially unchanged at 401.74 points.
The value of trades rose by over 35 percent over the previous sessionto almost 967 billion VND (46 million USD), while volume climbed nearly56 percent to over 68.5 million shares.
Shares were mixed,with 151 out of 293 codes losing value. Among blue chips, real estatedeveloper Hoang Anh Gia Lai (HAG) continued its seven-day winning streakby hitting its ceiling price, while dairy giant Vinamilk (VNM), Phu MyFertilisers (DPM), software producer FPT, and Sacombank (STB) all lostvalue.
Military Bank (MBB) was the most-active share onthe southern bourse with over 4 million changing hands. MBB closed up1.6 percent to 12,800 VND per share.
The VN-Index hasalready risen by over 19 percent in a month and seen five consecutivewinning sessions. "The rally trend is incredible," an analyst with FPTSecurities Co wrote in a report, adding the market was supported bypositive economic news and earnings data.
Other analysts,however, have warned of a likely downward adjustment in the comingsessions as the pressure to take short-term profits increases.
The pattern seemed to play out in Hanoi on Feb. 3, where theHNX-Index lost 1.15 percent to end the session at 61.85 points.
Heavy profit taking pushed volume up 76 percent to 57.5 million shareswhile transaction value soared 63 percent to over 441 billion VND (21million USD).
But losers outnumbered gainers by 164-104,and many speculative shares declined, including Kim Long Securities Co(KLS), down 3.2 percent; VNDirect Securities (VND), off 1.3 percent; BaoViet Securities (BVS), down 1.9 percent; and Viet Hai Shipping and RealProperties Co (VSP), down 5.3 percent.
PetroVietnamConstruction (PVX) continued to be the most-active share nationwide on avolume of nearly seven million. PVX bucked the negative trend on thenorthern bourse to post a gain of 2.4 percent, closing at 8,400 VND pershare.
Foreign investors increased their buys on bothexchanges on Feb. 3, picking up a combined net of over 302 billion VND(14.4 million USD) worth of shares./.
In HCM City , the VN-Index roseby as much as 0.03 percent early in the session but declined againgradually before closing essentially unchanged at 401.74 points.
The value of trades rose by over 35 percent over the previous sessionto almost 967 billion VND (46 million USD), while volume climbed nearly56 percent to over 68.5 million shares.
Shares were mixed,with 151 out of 293 codes losing value. Among blue chips, real estatedeveloper Hoang Anh Gia Lai (HAG) continued its seven-day winning streakby hitting its ceiling price, while dairy giant Vinamilk (VNM), Phu MyFertilisers (DPM), software producer FPT, and Sacombank (STB) all lostvalue.
Military Bank (MBB) was the most-active share onthe southern bourse with over 4 million changing hands. MBB closed up1.6 percent to 12,800 VND per share.
The VN-Index hasalready risen by over 19 percent in a month and seen five consecutivewinning sessions. "The rally trend is incredible," an analyst with FPTSecurities Co wrote in a report, adding the market was supported bypositive economic news and earnings data.
Other analysts,however, have warned of a likely downward adjustment in the comingsessions as the pressure to take short-term profits increases.
The pattern seemed to play out in Hanoi on Feb. 3, where theHNX-Index lost 1.15 percent to end the session at 61.85 points.
Heavy profit taking pushed volume up 76 percent to 57.5 million shareswhile transaction value soared 63 percent to over 441 billion VND (21million USD).
But losers outnumbered gainers by 164-104,and many speculative shares declined, including Kim Long Securities Co(KLS), down 3.2 percent; VNDirect Securities (VND), off 1.3 percent; BaoViet Securities (BVS), down 1.9 percent; and Viet Hai Shipping and RealProperties Co (VSP), down 5.3 percent.
PetroVietnamConstruction (PVX) continued to be the most-active share nationwide on avolume of nearly seven million. PVX bucked the negative trend on thenorthern bourse to post a gain of 2.4 percent, closing at 8,400 VND pershare.
Foreign investors increased their buys on bothexchanges on Feb. 3, picking up a combined net of over 302 billion VND(14.4 million USD) worth of shares./.
