VN stocks decline on profit taking

January 16, 2018 | 16:27

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Vietnamese shares fell on Tuesday morning due to rising investors’ short selling that hit the large-caps.

Benmark indices dropped this morning on profit taking.

The benchmark VN Index on the HCM Stock Exchange edged down 0.41 per cent to close at 1,059.13 points.

The benchmark index had gained total 5 per cent in the previous six sessions.

The minor HNX Index on the Ha Noi Stock Exchange dropped 0.40 per cent to end at 121.54 points.

The northern market index rose 1.06 per cent on Monday.

Nearly 245 million shares were traded on the two local exchanges, worth VND5.46 trillion (US$242.7 million).

Declining stocks outnumbered gaining ones by 275 to 163, while 107 other stocks ended flat.

Large-cap stocks underperformed as 17 of the 30 largest stocks by market capitalisation in the VN30 Index suffered, pulling the large-cap index down 0.76 per cent to 1,055.08 points.

Among the worst decliners were Sacombank (STB), Kinh Bac City Development Holding (KBC), FLC Faros Construction (ROS) and food and beverage producer Masan (MSN).

Among those stocks, STB dropped 2.3 per cent after the bank announced it would sell 81 treasury stocks and Eximbank planned to offload 12 million shares in Sacombank.

The afternoon trade session starts at 1pm.

VNA

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