An investor observes stocks move at T​an Viet Securities Company in Hanoi (Photo: VNA)
 
Hanoi (VNS/VNA) - Shares fell slightly on the Ho Chi Minh Stock Exchange on September 29 as large-cap stocks lost steam and declined on investors’ late selling.

Vietnam’s benchmark VN Index on the southern market closed down 0.05 percent at 804.42 points after having risen as much as 0.5 percent during the morning session.

It also reversed from a 0.13 percent drop on September 28. The fall on September 29 also marked a weekly loss of 0.3 percent for the VN Index.

More than 139.4 million shares were traded on the southern market, worth 3.1 trillion VND (137.6 million USD).

September 30’s trading figures dropped 27.6 percent in volume and 20 percent in value from the previous session’s numbers.

Large-cap stocks were unable to maintain their prolonged growth rates as investors increased selling to earn profits when the market was coming to a close.

Half of the 30 largest stocks by market capitalisation and trading liquidity in the VN30 Index declined while 12 others advanced and three stayed unchanged.

BIDV Securities Company (BSC) said in its daily report that low investor confidence must be blamed for the decline of the stock market as it pulled down market trading liquidity and created strong selling pressure on local shares.

According to Vietnam Investment Securities Company (IVS), after tapping the intraday high of 808.77 points, the benchmark VN Index weakened and finished lower than Thursday’s ending level as investors increased their selling in two stocks – brewer Sabeco (SAB) and PetroVietnam Gas (GAS).

SAB fell 2.3 percent after having reached its intraday highest growth rate of 2.4 percent. Shares of the largest brewer jumped 4.3 percent on September 28.

GAS dropped more than 2.2 percent after it had gained total 4.3 percent in the previous six sessions.

Other large-cap stocks that also weighed down the southern market index included gas station operator Petrolimex (PLX), consumer goods producer Masan (MSN) and Sacombank (STB).

Among the three stocks, MSN was down 1.1 percent after having risen as much as 2 percent during the session. MSN gained 1.5 percent on September 28.

On the Hanoi Stock Exchange, the HNX Index inched up 0.21 percent to end at 107.66 points. The northern market index had dropped total 0.4 percent in the previous two sessions.

Nearly 62.5 million shares were traded on the northern bourse, worth 528.8 billion VND.-VNA