Transactions are carried out at the Hanoi Stock Exchange (Photo: VNA)Hanoi (VNA) - The benchmark VN Index reversed a four-day rise on May 15 aslarge-cap stocks were hit by profit-taking.
Vietnam’skey stock index finished at 725.35 points, slightly down from the May 12 closinglevel of 725.37 points.
Ithad increased by a total of 0.9 percent in the previous four sessions.
Morethan 240.8 million shares were traded on the southern bourse, worth 4.82trillion VND (214.5 million USD).
Large-capstocks underperformed as they were brought down by investors’ looking to gainsome short-term profits after the major market witnessed a four-day increaselast week, according to Saigon-Hanoi Securities (SHS).
Halfof the 30 largest companies by market capitalisation declined with the decreasein share prices ranging between 0.3 percent and 2.3 percent.
Decliningblue-chip stocks included Bank for Investment and Development of Vietnam (BID),information-technology giant FPT Corp (FPT), MBBank (MBB), sugar producer ThanhThanh Cong Tay Ninh (SBT) and dairy producer Vinamilk (VNM).
Onthe opposite side, strong gains were seen in shares of property developers,brokerages and agriculture firms.
Amongthose sectors, property stocks remained highly attractive to investors,occupying six of the 10 most active stocks on the southern bourse.
FLCGroup (FLC) and Hoang Quan Consultancy-Trading-Service Real Estate (HQC) werethe two most active stocks. FLC had more than 26 million of its shares being tradedand the number for HQC was more than 19 million.
BothFLC and HQC hit their daily trading limits of 6.9 percent and 6.7 percent,respectively.
Amongbrokerages, the strongest gains were found in Saigon Securities (SSI), An PhatSecurities (APG), HCM City Securities (HCM) and Agribank Securities (AGR).
Thosestocks advanced between 1.4 percent and 3.1 percent.
BIDVSecurities (BSC) said in its report that the benchmark index is moving sidewaysaround the level of 725 points as the financial flow is now decentralised amonglarge-cap stocks, which are the major pillar of the market.
Thebrokerage firm added that the market outlook seems positive on current marketconditions as the market trading liquidity improved and there was little changein the major index.
Onthe Hanoi Stock Exchange, the HNX Index gained 0.79 percent to end at 91.10points. The northern market index has risen total 1.3 percent after the lasttwo days.
Nearly64.5 million shares were traded on the northern bourse, worth 748.6 billion VND.-VNA
VNA
