Stocks retreat from three-day rally hinh anh 1Investors at Sai Gon-Hanoi Securities Company (Photo:
Hanoi, (VNA) - Shares fell on both local markets on July 14, ending a three-day rise as investors increased selling to lock in short-term profits for their portfolios.

The benchmark VN Index on the HCM Stock Exchange inched down 0.09 percent to close at 777.60 points.

The HNX Index on the Hanoi Stock Exchange dropped 0.33 percent to end at 100.43 points.

July 14’s declines also ended a rally on both local bourses with the VN Index advancing a total 1.5 percent in the previous three sessions and the HNX Index going up 0.4 percent.

The session also closed a volatile trading week for both local indices. The VN Index posted a weekly gain of 0.2 percent while the HNX Index fell 1.1 percent.

More than 272.6 million shares were traded on both local bourses, worth 4.21 trillion VND (187.4 million USD).

The day’s trading figures increased by 4.2 percent in volume and 1.2 percent in value compared to July 13.

Large-stocks’ performance was negative as 17 shares among the 30 largest companies by market capitalisation declined while only nine advanced.

Bank stocks were among the sectors that posted the worst falls on July 14 with six of the nine listed banks suffering and only Vietcombank (VCB) inching up 0.1 percent.

The agriculture sector, led by Hoang Anh Gia Lai Group (HAG) and its subsidiary HAGL Agrico (HNG), also fell.

HAG lost 1.7 percent and HNG was down 1.1 percent after having risen total 8.6 percent and 6.2 percent in the previous three sessions.

Among other large-cap stocks that suffered from profit-taking were dairy producer Vinamilk (VNM), ICT group FPT Corp (FPT) and HCM City Infrastructure Investment (CII).

On the opposite side, shares of pharmaceutical companies traded in positive territory after DHG Pharmaceutical Co (DHG) proposed to its shareholders to approve a lift in the company’s foreign ownership limit. DHG jumped 4.6 percent.

The benchmark VN Index moved in a narrow margin between 776.88 and 780.65 points and started to decline towards the end of the day when it touched the short-term peak of 780 points, according to BIDV Securities Co (BSC).-VNA