Profit-taking sends markets down

Thursday, Jun 02, 2016 12:39

Energy stocks increased in the early trading session to lift both local markets. — Photo

HA NOI (Biz Hub) — Vietnamese shares struggled to rise in the early session as blue chips witnessed profit taking after the previous gains.

The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange gained slightly to close at 620.22 points and 81.96 points, respectively.

Banks and brokerage firms pushed markets down. Vietinbank (CTG) and Military Bank (MBB) edged down 0.6 per cent each and Eximbank (EIB) dropped 1.6 per cent.

Among the brokerage firms, VNDirect Securities Corp (VND) and Bao Viet Securities Corp (BVS) lost 0.8 per cent each, HCM City Securities Corp (HCM) fell 0.6 per cent and BIDV Securities Corp (BSI) was down 1.1 per cent.

The two large-cap firms that are mainly operating in the agricultural sector, Hoang Anh Gia Lai JSC (HAG) and HAGL Agricultural JSC (HNG), retreated 1.3 per cent and 1.2 per cent, respectively.

Steel producer Hoa Sen Group (HSG) and Da Nang Rubber JSC (DRC) suffered losses as investors tried to pick profits from these stocks' previous gains.

However, PetroVietnam Drilling and Well Service Corp (PVD), Petroleum Equipment Assembly and Metal Structure JSC (PXS), PetroVietnam Mud Drilling Corp (PVC) and PetroVietnam Technical Service Corp (PVS) lifted the energy sector.

Both local markets traded nearly 95 million shares worth VND1.25 trillion (US$55.5 million). — VNS

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