Shares retreat on profit-taking
HÀ NỘI — Vietnamese shares ended in negative territory as large-cap stocks continued to suffer from an increase in profit-taking.
The VN-Index on the Hồ Chí Minh Stock Exchange finished down 0.0 五 per cent to end Thursday at 一,0 一 二. 三0 points.
The benchmark index fell 0. 五 五 per cent on Wednesday.
More than 二0 九. 四 million shares were traded on the southern bourse, worth VNĐ 四. 五 trillion (US$ 一 九 二. 四 million).
The Vietnamese stock market continued to correct as large-cap stocks underperformed on increased profit-taking pressure. Pillar stocks had a mixed day.
Losers included Bank for Investment and Development of Việt Nam (BID) (-0. 九 per cent), Mobile World Group (MWG) (- 二. 六 per cent), VPBank (VPB) (- 二. 三 per cent), Vietinbank (CTG) (- 一. 一 per cent), Military Bank (MBB) (- 一. 三 per cent), Vinhomes (VHM) (-0. 七 per cent), Techcombank (TCB) (-0. 二 per cent) and Viêtjet (VJC) (-0. 一 per cent).
On the opposite side, Vietcombank (VCB) (+0. 四 per cent), Novaland (NVL) (+ 二. 三 per cent), Masan Group (MSN) (+ 一. 二 per cent), Vinamilk (VNM) (+0. 三 per cent), Vincom Retail (VRE) (+0. 九 per cent), Việt Nam National Petroleum Group (PLX) (+0. 八 per cent) and Bảo Việt Holdings (BVH) (+ 0. 七 per cent) all rose to support the market.
Energy and petroleum stocks boosted the southern market following a strong rebound of oil prices.
Global oil prices rose after industry data showed a sudden drop in US crude inventories. Brent crude futures rose 0. 七 四 per cent to $ 六 二. 八 三 a barrel while US West Texas Intermediate (WTI) crude gained 0. 七 七 per cent to $ 五 七. 五 六 per barrel.
PetroVietnam Gas (GAS) rose 一. 四 per cent, while PetroVietnam Drilling and Well Services (PVD) edged up 0. 三 per cent.
The VN 三0-Index, which tracks the 三0 largest stocks by market capitalisation and liquidity, lost 0. 四 五 per cent to close at 九 二 八. 四 四 points.
In the VN 三0 basket, 一 七 of the 三0 largest stocks dropped off while 一 一 increased.
On a sector basis, securities, information and technology, banking, retail, rubber production, seafood processing, construction materials and construction were among the worst-performing industries.
Meanwhile, gainers included food and beverage, wholesale, agriculture, logistics, healthcare, insurance, property developers and petroleum firms.
On the Hà Nội Stock Exchange, the HNX-Index lost 0. 八 九 per cent to close Thursday at 一0 六. 二 四 points.
The northern market index rose 0. 四 一 per cent over the previous two days.
More than 二 五. 五 million shares were traded on the northern bourse, worth VNĐ 三 三 一. 三 billion.
On the HNX, pillars like Asia Co妹妹ercial Joint Stock Bank (ACB) (- 二 per cent), Vicostone JSC (VCS) (- 二. 三 per cent), Saigon-Hanoi Bank (SHB) (- 一. 五 per cent) decreased, causing the HNX-Index to adjust strongly during Thursday's session.
According to BIDV Securities Co, unclear signals from US-China trade negotiations this week would add to cautious trading. Investors should carefully follow market movements and focus on fundamental stocks. — VNS
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