Illustrative image (Photo: VNA)Hanoi (VNA) - Vietnam’s key VN Index inched up on May 11 as investors soughtshort-term profits in recently-gaining stocks.
Thebenchmark index on the HCM Stock Exchange closed up 0.09 percent at 724.99points. The index has increased by a total 0.85 percent in the last threesessions.
Markettrading liquidity fell from Wednesday with more than 223 million shares being traded,worth 5.33 trillion VND (approximately 237 million USD).
Banks,energy producers, rubber companies and agriculture firms were among decliners.
Ofthe six listed banks on the southern bourse, BIDV (BID), Vietinbank (CTG),Eximbank (EIB) and Sacombank (STB) fell after they had made two-day increases.
Thefour bank stocks dropped between 0.4 percent and 1.1 percent from their two-daygains of 3.6 percent, 3.1 percent, 13.5 percent and 5.5 percent, respectively.
Sharesof rubber companies also ended in negative territory following previous stronggains.
SaoVang Rubber JSC (SRC) was down 0.6 percent, Da Nang Rubber JSC (DRC) fell 1 percentand the Southern Rubber Industry JSC (CSM) lost 1.1 percent.
SRChad advanced total 1.8 percent and DRC jumped 6.1 percent in the previous twodays, while CSM soared 5.8 percent in the previous four days.
Energyproducers suffering losses included PetroVietnam Mud Drilling (PVC) andPetroVietnam Drilling and Well Services (PVD), while the two largestagriculture firms – Hoang Anh Gia Lai (HAG) and Hoang Anh Gia Lai AgricultureInternational (HNG) – also saw their share values fall.
Somespeculative stocks in other industries such as property developers Dream HouseInvestment (DRH), Hoang Quan Consulting-Trading-Service Real Estate (HQC) andAn Duong Thao Dien JSC (HAR) also declined on profit-taking.
Onthe positive side, dairy producer Vinamilk (VNM), Vietnam National PetroleumGroup (PLX) and Vietcombank (VCB) gained.
BIDVSecurities (BSC) said in its daily report that the market gained at a slowerrate at the end of the session, compared to the first half, as investors soughtshort-term profits in stocks that had made gains in previous days.
Investorshave switched their focus from speculative stocks to large-cap ones in the VN30Index, which tracks the performance of the 30 largest companies by marketcapitalisation, BSC said, adding that the VN Index continue to rise over thenext few days.
TheHNX Index on the Hanoi Stock Exchange, however, fell 0.29 percent to end at89.90 points. The northern market index has dropped a total 0.5 percent in twodays.-VNA
VNA
