Stocks tumble on profit-taking
Stocks extended losses in the afternoon session on both stock exchanges
on July 22 as profit-taking pressure showed no sign of decline.
Stocks extended losses in the afternoon session on both stock exchanges
on July 22 as profit-taking pressure showed no sign of decline.
On the Ho Chi Minh Stock Exchange, the VN-Index fell from the three-month high, closing down 0.51 percent at 597.98 points.
The VN30 tracking the top 30 shares by market value and liquidity also decreased 0.52 percent to end at 641.95 points as heavyweight stocks such as Masan Group (MSN), Vinamilk (VNM), VinGroup (VIC) and Vietcombank (VCB) lost value.
The market reviewed the portfolio of the VN30 on July 22, following which two stocks, Petrovietnam General Services Corp (PET) and PetroVietNam Low Pressure Gas Distribution Corp (PGD), were removed from the VN30 list, while FLC Group (FLC) and HCM Securities Co (HCM) were added.
FLC was also the most active share on the southern bourse with more than 16.6 million shares, slipping 0.8 percent to close at 12,400 VND per share.
Market volume was essentially unchanged from July 21, totalling nearly 104 million shares and fund certificates, while value of trades dropped 10 percent to almost 1.742 trillion VND (82.6 million USD).
Performance of stocks was mixed when shares of companies posting optimistic business results in the first half advanced, such as textile manufacturer Mirae Co (KMR), Nam Kim Steel Co (NKG) and construction Lilama 8 Co (LM8), but loss-making companies including Viet Han Corp (VHG), Vietnam Electricity Construction Corp (VNE) and Petroleum Pipeline and Tank Construction Corp (PXT) tumbled.
According to analysts, stocks will continue to differentiate in performance this week, based on the filing of their business results.
On the Hanoi Stock Exchange, the HNX-Index also shed 0.52 percent to close at 80.25 points.
The market was neutral with 80 shares rising, 99 declining and 180 closing flat.
Trading was sluggish with the market volume and value dropping 20 percent from the previous day, totalling 45 million shares worth 553 billion VND (26.2 million USD).
FLC Joint Venture Global Investment Co (KLF) became the most active in the capital with 4.3 million shares traded, rallying 1.8 percent to end at 11,500 VND a share.
Foreign investors were again the net buyers on the Ho Chi Minh City market, picking up shares worth 38.67 billion VND (1.8 million USD). By contrast, they were net sellers on the Hanoi exchange, unloading shares worth 40.5 billion VND (1.9 million USD).-VNA
On the Ho Chi Minh Stock Exchange, the VN-Index fell from the three-month high, closing down 0.51 percent at 597.98 points.
The VN30 tracking the top 30 shares by market value and liquidity also decreased 0.52 percent to end at 641.95 points as heavyweight stocks such as Masan Group (MSN), Vinamilk (VNM), VinGroup (VIC) and Vietcombank (VCB) lost value.
The market reviewed the portfolio of the VN30 on July 22, following which two stocks, Petrovietnam General Services Corp (PET) and PetroVietNam Low Pressure Gas Distribution Corp (PGD), were removed from the VN30 list, while FLC Group (FLC) and HCM Securities Co (HCM) were added.
FLC was also the most active share on the southern bourse with more than 16.6 million shares, slipping 0.8 percent to close at 12,400 VND per share.
Market volume was essentially unchanged from July 21, totalling nearly 104 million shares and fund certificates, while value of trades dropped 10 percent to almost 1.742 trillion VND (82.6 million USD).
Performance of stocks was mixed when shares of companies posting optimistic business results in the first half advanced, such as textile manufacturer Mirae Co (KMR), Nam Kim Steel Co (NKG) and construction Lilama 8 Co (LM8), but loss-making companies including Viet Han Corp (VHG), Vietnam Electricity Construction Corp (VNE) and Petroleum Pipeline and Tank Construction Corp (PXT) tumbled.
According to analysts, stocks will continue to differentiate in performance this week, based on the filing of their business results.
On the Hanoi Stock Exchange, the HNX-Index also shed 0.52 percent to close at 80.25 points.
The market was neutral with 80 shares rising, 99 declining and 180 closing flat.
Trading was sluggish with the market volume and value dropping 20 percent from the previous day, totalling 45 million shares worth 553 billion VND (26.2 million USD).
FLC Joint Venture Global Investment Co (KLF) became the most active in the capital with 4.3 million shares traded, rallying 1.8 percent to end at 11,500 VND a share.
Foreign investors were again the net buyers on the Ho Chi Minh City market, picking up shares worth 38.67 billion VND (1.8 million USD). By contrast, they were net sellers on the Hanoi exchange, unloading shares worth 40.5 billion VND (1.9 million USD).-VNA
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