Transactions on the Hanoi Stock Exchange (Photo: baohaiquan.vn) Hanoi(VNS/VNA) - Shares declined on the two exchanges on September 19 as investorsincreased selling to capitalise on profits after a long rally.
On the Ho Chi Minh StockExchange, the VN-Index erased September 18’s gains, edging down 0.24 percent toend at 805.93 points. The key market index increased 0.25 percent in theprevious session.
On the Hanoi StockExchange, the HNX-Index dropped 0.38 percent to end at 104.73 points. Thenorthern market index gained 0.62 percent on September 18.
The overall market breadthwas negative with 249 stocks falling, 201 rising and 263 remaining unchanged.
There was no consensusamong large-cap stocks as 17 of the top 30 largest shares by market value andliquidity on the southern bourse (VN30) declined and 11 advanced.
Vinamilk (VNM), brewerSabeco (SAB), Vietcombank (VCB), Mobile World Group (MWG), Masan Group (MSN)and PV Gas (GAS) were among losers.
Stocks which maintained anupward trend included VinGroup (VIC), FLC Faros Construction (ROS), Vietinbank(CTG), BIDV (BID), insurer Bao Viet Holdings (BVH), IT group FPT (FPT),steelmaker Hoa Phat Group (HPG) and PetroVietnam Drilling and Well Services(PVD).
“The fact that many stockscorrected today had created strong pressure on the market, which is proven bythe decrease in the afternoon trade,” analysts at BIDV Securities Co wrote in anote.
Profit-taking pressureincreased after the VN-Index touched the 810 resistance level in earlyafternoon trade. However, the positive signal was that money shifted from largecaps to speculative stocks in the real estate, construction and buildingmaterials.
The most active stocks on September19 included FLC Group (FLC), Sai Gon Thuong Tin Real Estate (SCR), KLF JointVenture Global Investment (KLF), Kim Vi Inox Import Export Production (KVC) andC.E.O Group (CEO) with trading volume of between 2-19 million shares each.
According to analysts atVietnam Investment Securities Co, cash flows tend to look for stocks that areexpected to have positive third-quarter earnings. However, there is still along time to go before the reporting season so the market will likely see largedivergence.
“Thus, the selection of stocksis very important and investors should be consistent when looking for stocks toincrease,” analysts said.
Liquidity decreasedslightly with a total of 230.4 million shares worth a combined 4.5 trillion VND(198.2 million USD) being traded in the two markets, down 9.3 percent in volume and 2.2 percent in value compared to the previous session.-VNA
VNA
