Investors at the Saigon Securities Inc office in Hanoi (Photo: VNA)Hanoi (VNA) - Shares fellslightly on the HCM Stock Exchange as large-cap stocks were hit byprofit-taking after the index touched a fresh 10-year high of 960 points.
The benchmark VN Index dropped 0.23 percentto end at 949.93 points on November 30, ending its previous eight-day increaseof nearly 7 percent in total.
The benchmark index rose as much as 0.83 percentduring the session.
More than 249.6 million shares were tradedon the southern exchange, worth 6.5 trillion VND (289 million USD).
Trading liquidity increased by 8.6 percentin volume and 17.5 percent in value compared to the previous day.
The market breadth was positive with 153gaining stocks, 128 declining ones and 51 shares ending flat.
Large-cap stocks were mixed as half of the30 largest shares by market capitalisation in the VN30 Index fell, pulling theVN30 Index down 0.37 percent to 943.05 points.
Among decliners were brewer Sabeco (SAB),Vietcombank (VCB), Sacombank (STB), food and beverage firm Masan (MSN) andinsurance-finance group Bao Viet Holdings (BVH).
Those listed firms saw share prices declinebetween 0.8 percent and 4.1 percent. Sabeco shares lost 2.9 percent afterhaving climbed a total of 12 percent in two sessions.
The other four large-cap stocks alsosuffered from the same condition. VCB was down 1 percent from a three-day riseof 3.4 percent and STB edged down 0.7 percent from a four-day rally of 6.9 percent.
[VN ranks third among fastest-growing global stock markets]
The State Capital Investment Corporation(SCIC), which represents the Government to manage the State’s capital in localcompanies, announced on November 30 that its divestment from FPT Corp and BinhMinh Plastic would be delayed until next year instead of taking place thismonth.
The national wealth fund SCIC hadpreviously planned to sell the State’s stakes in those firms between December 8and 13.
FPT and Binh Minh Plastic shares fell 1.5 percentand 1.1 percent on the news.
Saigon-Hanoi Securities Company (SHS) wrotein its daily report that the VN Index failed to extend growth further becauseinvestors sought to profit as the index hit a new 10-year high.
However, investor confidence seemed toremain positive as “the green colour still dominated the market trading withadvancers outnumbering losers, boosting opportunities for investors that arelooking for short-term profits,” SHS said.
The November 30 slight fall was considerednecessary for the market to settle down before rising to higher levels, thebrokerage firm said, adding that the VN Index is forecast to bounce back on December1 to reclaim the 950-point level.
On the Hanoi Stock Exchange, the HNX Indexadded 0.68 percent to finish at 114.72 points. It has extended its growth for asecond day, rising a total of 2.9 percent.
More than 74.5 million shares were traded on thenorthern exchange, worth 1.07 trillion VND.-VNA
VNA
