Vietnam’s shares fall on intraday profit-taking
Shares retreated on the Ho Chi Minh Stock Exchange on October 5 as large-cap stocks were brought down by late profit taking, signaling poor investor sentiment.
Shares retreated on the HCM Stock Exchange on October 5 as large-cap stocks were brought down by late profit taking, signaling poor investor sentiment (Photo: vinanet.vn)Hanoi (VNS/VNA)
- Shares retreated on the Ho Chi Minh Stock Exchange on October 5 as large-cap
stocks were brought down by late profit taking, signaling poor investor
sentiment.
The benchmark VN-Index was down 0.05 percent to close at 805.23 points as investors locked in their stock portfolios after the index reached a high of 810.54 points during the day.
The benchmark index added nearly 1 percent on October 4 to recover from its previous three-day decline of 0.84 percent.
The market breadth was negative with 141 losing stocks, 128 gaining ones and 53 stocks ending unchanged.
Pressure from investors’ profit-taking pushed market trading liquidity up from October 4 by a quarter in volume and 36.7 percent in value to more than 148.4 million shares and 3.38 trillion VND (150.2 million USD).
Large-cap stocks underperformed with 17 of the top 30 companies by market capitalisation and trading liquidity in the VN30 basket declining.
The VN30 Index, which tracks the performance of the top 30 listed companies, rose 0.21 percent to 797.42 points, narrowing its gain from the intraday high of 801.36 points.
PetroVietnam Gas (GAS), steel producers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), logistics firm Gemadept (GMD), and property developer Kinh Bac City Development Holding (KBC) were among the worst decliners.
GAS closed down 2.2 percent after growing as much as 0.3 percent, HPG fell 2.1 percent and hitting its highest intra-session growth rate of 0.6 percent.
Other stocks such as HSG, GMD and KBC performed in a similar manner, ending the day down between 1.1 percent and 1.8 percent.
Bank stocks on the southern bourse returned to negative territory after a positive session that pulled the market up on October 4.
According to analysts at BIDV Securities Co (BSC), the benchmark VN-Index stepped back from a strong gain as investors looked for profits after local stocks performed quite well in the previous session.
“The level of 810 points will remain a tough short-term challenge for the VN-Index,” the brokerage said in its daily report, adding that the benchmark could go down further to test the supportive level of 800 points.
On the Hanoi Stock Exchange, the HNX-Index fell 0.44 percent to end at 106.96 points, reversing from its 0.8 percent gain on October 4. Nearly 47.3 million shares were traded on the northern market, worth more than 557 billion VND.-VNA
The benchmark VN-Index was down 0.05 percent to close at 805.23 points as investors locked in their stock portfolios after the index reached a high of 810.54 points during the day.
The benchmark index added nearly 1 percent on October 4 to recover from its previous three-day decline of 0.84 percent.
The market breadth was negative with 141 losing stocks, 128 gaining ones and 53 stocks ending unchanged.
Pressure from investors’ profit-taking pushed market trading liquidity up from October 4 by a quarter in volume and 36.7 percent in value to more than 148.4 million shares and 3.38 trillion VND (150.2 million USD).
Large-cap stocks underperformed with 17 of the top 30 companies by market capitalisation and trading liquidity in the VN30 basket declining.
The VN30 Index, which tracks the performance of the top 30 listed companies, rose 0.21 percent to 797.42 points, narrowing its gain from the intraday high of 801.36 points.
PetroVietnam Gas (GAS), steel producers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), logistics firm Gemadept (GMD), and property developer Kinh Bac City Development Holding (KBC) were among the worst decliners.
GAS closed down 2.2 percent after growing as much as 0.3 percent, HPG fell 2.1 percent and hitting its highest intra-session growth rate of 0.6 percent.
Other stocks such as HSG, GMD and KBC performed in a similar manner, ending the day down between 1.1 percent and 1.8 percent.
Bank stocks on the southern bourse returned to negative territory after a positive session that pulled the market up on October 4.
According to analysts at BIDV Securities Co (BSC), the benchmark VN-Index stepped back from a strong gain as investors looked for profits after local stocks performed quite well in the previous session.
“The level of 810 points will remain a tough short-term challenge for the VN-Index,” the brokerage said in its daily report, adding that the benchmark could go down further to test the supportive level of 800 points.
On the Hanoi Stock Exchange, the HNX-Index fell 0.44 percent to end at 106.96 points, reversing from its 0.8 percent gain on October 4. Nearly 47.3 million shares were traded on the northern market, worth more than 557 billion VND.-VNA
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
Business
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
