Shares retreated on the HCM Stock Exchange on October 5 as large-cap stocks were brought down by late profit taking, signaling poor investor sentiment (Photo: vinanet.vn)Hanoi (VNS/VNA)- Shares retreated on the Ho Chi Minh Stock Exchange on October 5 as large-capstocks were brought down by late profit taking, signaling poor investorsentiment.
The benchmark VN-Index wasdown 0.05 percent to close at 805.23 points as investors locked in their stockportfolios after the index reached a high of 810.54 points during the day.
The benchmark index addednearly 1 percent on October 4 to recover from its previous three-day decline of0.84 percent.
The market breadth wasnegative with 141 losing stocks, 128 gaining ones and 53 stocks endingunchanged.
Pressure from investors’profit-taking pushed market trading liquidity up from October 4 by a quarter involume and 36.7 percent in value to more than 148.4 million shares and 3.38trillion VND (150.2 million USD).
Large-cap stocksunderperformed with 17 of the top 30 companies by market capitalisation andtrading liquidity in the VN30 basket declining.
The VN30 Index, whichtracks the performance of the top 30 listed companies, rose 0.21 percent to797.42 points, narrowing its gain from the intraday high of 801.36 points.
PetroVietnam Gas (GAS),steel producers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), logistics firmGemadept (GMD), and property developer Kinh Bac City Development Holding (KBC)were among the worst decliners.
GAS closed down 2.2 percentafter growing as much as 0.3 percent, HPG fell 2.1 percent and hitting itshighest intra-session growth rate of 0.6 percent.
Other stocks such as HSG,GMD and KBC performed in a similar manner, ending the day down between 1.1 percentand 1.8 percent.
Bank stocks on the southernbourse returned to negative territory after a positive session that pulled themarket up on October 4.
According to analysts atBIDV Securities Co (BSC), the benchmark VN-Index stepped back from a stronggain as investors looked for profits after local stocks performed quite well inthe previous session.
“The level of 810 pointswill remain a tough short-term challenge for the VN-Index,” the brokerage saidin its daily report, adding that the benchmark could go down further to testthe supportive level of 800 points.
On the Hanoi StockExchange, the HNX-Index fell 0.44 percent to end at 106.96 points, reversingfrom its 0.8 percent gain on October 4. Nearly 47.3 million shares were tradedon the northern market, worth more than 557 billion VND.-VNA
The benchmark VN-Index wasdown 0.05 percent to close at 805.23 points as investors locked in their stockportfolios after the index reached a high of 810.54 points during the day.
The benchmark index addednearly 1 percent on October 4 to recover from its previous three-day decline of0.84 percent.
The market breadth wasnegative with 141 losing stocks, 128 gaining ones and 53 stocks endingunchanged.
Pressure from investors’profit-taking pushed market trading liquidity up from October 4 by a quarter involume and 36.7 percent in value to more than 148.4 million shares and 3.38trillion VND (150.2 million USD).
Large-cap stocksunderperformed with 17 of the top 30 companies by market capitalisation andtrading liquidity in the VN30 basket declining.
The VN30 Index, whichtracks the performance of the top 30 listed companies, rose 0.21 percent to797.42 points, narrowing its gain from the intraday high of 801.36 points.
PetroVietnam Gas (GAS),steel producers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), logistics firmGemadept (GMD), and property developer Kinh Bac City Development Holding (KBC)were among the worst decliners.
GAS closed down 2.2 percentafter growing as much as 0.3 percent, HPG fell 2.1 percent and hitting itshighest intra-session growth rate of 0.6 percent.
Other stocks such as HSG,GMD and KBC performed in a similar manner, ending the day down between 1.1 percentand 1.8 percent.
Bank stocks on the southernbourse returned to negative territory after a positive session that pulled themarket up on October 4.
According to analysts atBIDV Securities Co (BSC), the benchmark VN-Index stepped back from a stronggain as investors looked for profits after local stocks performed quite well inthe previous session.
“The level of 810 pointswill remain a tough short-term challenge for the VN-Index,” the brokerage saidin its daily report, adding that the benchmark could go down further to testthe supportive level of 800 points.
On the Hanoi StockExchange, the HNX-Index fell 0.44 percent to end at 106.96 points, reversingfrom its 0.8 percent gain on October 4. Nearly 47.3 million shares were tradedon the northern market, worth more than 557 billion VND.-VNA
VNA
