Stocks down as market under profit-taking pressure

HCMC – Most bank stocks came under profit-taking pressure, sending the VN-Index of the Hochiminh Stock Exchange slipping today, June 25.

The benchmark index closed at 960.13 points, down 2.72 points, or 0.28%, against the previous session.

The southern exchange saw 104 stocks rising and 180 others falling, with trade volume rising 9% against the day earlier at 164 million shares and value advancing 6.6% at VND3.61 trillion. There were 43.6 million shares worth VND1.1 trillion traded in block deals.

Most bank stocks on the southern market ended down. CTG reported the sharpest price decline of 1.64% at VND21,050, followed by BID, 1.53% at VND32,100, and MBB, 0.94% at VND21,100.

In addition, VCB lost 0.82% at VND72,400 at the close, while TCB slumped 0.72% at VND20,750.

Only VPB and HDB bucked the trend, picking up 0.52% and 0.19% at VND19,400 and VND26,700 per share, respectively.

Among banks, CTG was the best performer by liquidity with 3.63 million shares changing hands, followed by VPB with 2.6 million shares and STB with 2.5 million shares.

Property firm VIC and its housing affiliate VHM also closed at their reference prices. Meanwhile, retailer VRE dipped 0.58% at VND34,300.

Large-cap and blue-chip stocks, such as steelmaker HPG, national flag carrier HVN and beverage firm BHN, closed down.

Nevertheless, the market was supported by tech firm FPT which surged 2.99% at VND46,500. The stock also had good liquidity with 3.27 million shares transacted.

Additionally, dairy stock VNM, brewery firm SAB, low-cost carrier VJC and property enterprise NVL posted a slight rise of 0.24%-1.04%.

Construction firm ROS still led the southern bourse by liquidity with 10 million shares traded. It ended the day at its reference price of VND30,000.

On the Hanoi Stock Exchange, the HNX-Index inched down 0.6%, or 0.63 points, at 104.15 points. Investors traded 24.89 million shares worth a combined VND449 billion, equivalent in volume but rocketing in value over the earlier session.

Block deals amounted to 4.1 million shares valued at more than VND141.6 billion.

All of the 10 largest stocks by market capitalization closed at their reference prices or declined.

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