Investors at the trading floor of Bao Viet Securities Company. (Photo: VNA) Hanoi (VNS/VNA) - Vietnamese shares fell on both local exchanges on September 27 as energy, brokerage and bank industries dropped on profit-taking.
Vietnam’s benchmark VN Index on the HCM Stock Exchange lost 0.20 percent to close at 803.77 points. The benchmark index has declined by total 0.4 percent in the last three sessions.
The HNX Index on the Hanoi Stock Exchange slipped 0.36 percent to end at 107.52 points. The northern market index posted its first loss following a five-session rally of total 3 percent.
Market trading liquidity declined from September 26. More than 221.8 million shares were traded on both local exchanges, worth 4.32 trillion VND (roughly 192 million USD).
September 27’s trading figures were down 11.7 percent in volume and 6.2 percent in value compared to the previous session.
Energy, brokerage and banking sectors were to blame for the decline of the two local exchanges on September 27.
The energy sector was driven down by PetroVietnam Drilling and Well Services (PVD), PetroVietnam Coating (PVB) and PetroVietnam Mud Drilling (PVC), which dropped between 1.2 percent and 2 percent.
The main reason for the fall of energy stocks came after Brent crude lost steam on September 26, finishing the trading day at 58.44 USD a barrel and ending a four-session gain of 7 percent since September 19.
Bank stocks were led down by Sacombank (STB) and Asia Commercial Bank (ACB), which fell 2 percent and 1.6 percent, respectively.
STB had soared 8.2 percent in the previous two sessions and ACB had rallied total 8.5 percent in the previous seven trading sessions.
Among declining brokerage stocks were HCM City Securities (HCM), Thien Viet Securities (TVS), Agribank Securities (AGR) and MB Securities (MBS).
On the positive side, the real estate sector was lifted by Vingroup (VIC), which jumped 3.4 percent to extend gains for a second day with total growth of 4.3 percent.
Vincom Retail, the retail arm of Vingroup, has submitted a listing registration document to the HCM Stock Exchange to trade total 1.9 billion shares on the southern market.
Bao Viet Securities Company (BVSC) said in its daily report that investors seemed unwilling to reduce the selling pressure on local stocks while the market demand remained weak, leading to underperformance of large-cap shares.
Trading liquidity weakened, proving that investors were losing confidence in the market, BVSC said, adding that the stock market will likely continue declining in coming sessions.-VNA
VNA
