The benchmark VN-Index ticked down 0.88 percent to close at 775.73 points on July 7, stepping down from the 2008 peak recorded in the last trade session due to heavy profit-taking pressure.
Petrolimex’s shares slipped over 2 percent on July7 due to heavy profit-taking pressure (Photo: VNA)
Hanoi (VNA) - Thebenchmark VN-Index ticked down 0.88 percent to close at 775.73 points on July 7,stepping down from the 2008 peak recorded in the last trade session due toheavy profit-taking pressure.
On the Hanoi StockExchange, the HNX-Index was down 1 percent to end at 101.58 points.
🐠 Liquidity rosesubstantially with a total of 357 million shares worth almost 5.8 trillion VND (255.5million USD) traded on the two markets, up 4.7 percent in volume and 18.4 percentin value compared with the previous session.
Only five of the top 30largest shares by market capitalisation and liquidity on the main bourse in HCMCity advanced and 24 declined, including banks, securities firms, energycompanies and real estate developers.
Seven of nine listedbanks on the two exchanges lost value, of which the two biggest listed lenders– Vietcombank (VCB) and BIDV (BID) – both slipped 1.7 percent.
Industry-leadingcompanies like Petrolimex (PLX), Vinamilk (VNM), VinGroup (VIC), steelmakers HoaPhat Group (HPG) and Hoa Sen Group (HSG), DHG Pharmaceutical (DHG) andPetroVietnam Drilling and Wells Service (PVD) slumped between 0.9-2.2 percenteach.
The market has ralliedsubstantially recently and a correction is understandable.
The VN-Index has gained17 percent since earlier this year and is among the best performers in theworld, even surpassing neighbouring markets like Thailand, the Philippines andIndonesia which have also reacted strongly to foreign capital.
In Vietnam, foreigninvestors has poured a net 9.2 trillion VND (roughly 409 million USD) in thefirst half of this year, beating the record 8 trillion VND recorded in thefirst seven months of 2008, Viet Dragon Securities Co’s data showed.
𒊎 Foreign traders were netsellers on the day on the HCM Stock Exchange after an 18-day net buying streak,offloading shares worth 61.5 billion VND. They were also responsible for netsell value of 12 billion VND on the Hanoi bourse.-VNA
The benchmark VN-Index surpassed the short-term resistance of 780 points on July 6, closing up 0.56 percent at 782.65 points, thanks to strong investor confidence in the market outlook.
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Petrolimex’s shares slipped over 2 percent on July7 due to heavy profit-taking pressure (Photo: VNA) 
