Profit-taking throws main index into negative territory

After the VN-Index of the Hochiminh Stock Exchange had beat the 1,200-point level for the first time in three years, approaching the highest closing record of 1,204.33 points set in 2018, the main index ended its eight-day winning streak due to strong profit taking today, January 13.

With 193 winners and 254 losers, the benchmark index shedded 6.23 points, or 0.52% against Tuesday at 1,185.05. Trade on the southern bourse improved 13.8% in volume and 15% in value at nearly 820 million shares and over VND18 trillion, including some VND2.5 trillion worth of shares traded in block deals.

Many major bank stocks lost, with VCB, BID, MBB, ACB dropping by 0.57-0.83% and STB, TPB, MSB contracting over 1.4%. Some other lenders inched up, with EIB expanding 6.44% to its ceiling price of VND21,500 and VPB rising 2.29%. In this group, lender STB took the lead by liquidity with over 26.65 million shares changing hands, followed by MBB with over 18.6 million shares, LPB with around 14 million shares, TCB with nearly 11.4 million shares.

As for brokerage stocks, many largecaps such as SSI, VCI, HCM, FTS were deep in the red. Among them, SSI was the most actively traded stock with nearly 9.8 million shares transacted.

Many bluechips fell back into negative territory amid strong profit-taking. For instance, property developer VIC slid 2.88% to its intraday low and its housing affiliate VHM fell 2.42%. Dairy firm VNM lost 1.55% and retailer VRE edged down 1.36%. Meanwhile, rubber group GVR continued to hit its highest level and saw 15.85 million shares traded, insurer BVH increased 3.23%. The remaining bluechips rose around 1%.

On the northern bourse, the HNX-Index made a rebound after the strong selling pressure dragged it down early this afternoon. At the close, it added 0.52 point, or 0.23% over the session earlier at 222.49, with 90 advancers and 113 decliners.

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