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|Shares corrected down on Friday morning on the two stock exchanges under heavy profit-taking selling pressure.|
The VN-Index on the HCM Stock Exchange edged down 0.41 per cent to 1,015.54 points after a three-day rally.
On the Ha Noi Stock Exchange, the HNX-Index decreased 0.33 per cent to 119.10 points.
Selling pressure focused on large caps, which had risen substantially in the past rallies.
Twenty of the top 30 largest shares by market value and liquidity on the HCM City’s bourse lost, while only eight advanced.
Big losers included Vinamilk (VNM), VinGroup (VIC), Mobile World Investment Group (MWG) and Bao Viet Holdings (BVH), as well as Vietcombank (VCB) and DHG Pharmaceutical (DHG).
Overall, the market condition was negative, with 255 stocks falling, 185 rising and 285 remaining unchanged on the two exchanges.
A total of 217.2 million shares worth over VND5.3 trillion (US$233.6 million) were traded in the two markets.
HDBank on January 5 made a debut of nearly 981 million shares on the HCM Stock Exchange, becoming the 432nd listed company and the 11th listed lender on the southern bourse.
The bank’s share price climbed 17.9 per cent in the morning trade to VND38,900 ($1.71) per share, valuing the bank at $1.67 billion and making it one of the top 20 largest listed companies by market value on the HCM City’s exchange on the first trading day.
Before listing, HDBank offered 21.5 per cent of its capital to 76 foreign investors at a price of VND32,000 per share, collecting $300 million. Foreign owners are now allowed to buy some 8.5 per cent of the bank’s capital.
At the end of 2017, HDBank’s estimated pre-tax profit was VND2.42 trillion, a two-fold increase over 2016’s figure. This was also the best year for the bank in terms of business results.
Its bad debt ratio (including HD Saison Finance) was 1.5 per cent.