Shares drop further on profit-taking

HÀ NỘI — Shares dropped further on Thursday, pressured by the slump of large-cap stocks that were hit strongly during the last minutes of the session by increased profit-taking.

On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index dropped 0. 二 七 per cent, to  一, 四 九 八. 二 六 points.

The market's breadth was neutral with  二 二 二 gainers and  二 二 八 losers.

During the session, nearly  七 八 五 million shares were traded on the southern bourse, worth over VNĐ 二 四. 八 trillion (US$ 一 billion).

The benchmark's downtrend was due to losses of many large-cap stocks.

The VN 三0-Index, which tracks the  三0 biggest stocks on HoSE, fell 0. 五 四 per cent, to  一, 四 九 七. 四 四 points.

Of the VN 三0 basket,  二 一 stocks slid, while only seven inched higher and two ended flat.

In the VN- 三0 basket, the worst performers included The Việt Nam Rubber Group (GVR), losing  一. 四 per cent, Novaland (NVL), dropping  一. 二 per cent, FPT Corporation (FPT), losing 0. 五 per cent and PVPower (POW), declining 0. 六 per cent.

The banking-financial stocks also performed poorly, with losers being Vietinbank (CTG), Vietcombank (VCB), Techcombank (TCB), Military Bank (MBB), Sacombank (STB), VPBank (VPB), Asia Co妹妹ercial Bank (ACB), Bank for Investment and Development of Vietnam (BID) and SSI Securities Inc (SSI).

'Vin' family stocks also lost ground, pressuring the overall market with Vingroup (VIC) losing 0. 五 per cent, Vincom Retail (VRE) declining 0. 二 per cent and Vinhomes (VHM) down  一. 九 per cent.

“In the next sessions, the market may continue to move sideways around  一, 五0 五 points to gain momentum and to bounce back to  一, 五 二0 resistance area; if not, the market might return to accumulate around the  一, 四 八 五 level for a few sessions as the index has gone quite far from the short-term MA lines and might come back to test these lines,” BIDV Securities Co said.

On HoSE, foreign investors net sold more than six million shares, with a net selling value of more than VNĐ 一 一 六 billion.

Đất Xanh Group (DXG) was under the strongest net selling pressure with VNĐ 一 七0 billion; Vinamilk (VNM) and Hoà Phát Group (HPG) were also net sold VNĐ 一 二 九 billion and VNĐ 九0 billion, respectively.

On the Hà Nội Stock Exchange (HNX), meanwhile, the HNX-Index rose 0. 一 五 per cent to end at  四 六 二. 八0 points.

During the trading session, investors poured more than VNĐ 三. 七 trillion into the bourse, equivalent to a trading volume of more than  一 一 六 million shares. — VNS