VN Index pulls back from four-day run

Monday, May 15, 2017 12:45

Brokers at FPT Securities Company in Ha Noi. — VNS Photo Thai Ha

The benchmark VN Index retreated on Monday morning from last week's rally as large-cap stocks dipped due to profit-taking.

Viet Nam’s key stock index inched down 0.18 per cent to close at 724.07 points. It gained a total of 0.9 per cent in the previous four sessions.

More than 154.3 million shares were exchanged on the southern bourse, worth VND2.75 trillion (US$122.4 million).

Blue-chip stocks declined in the morning after they helped the benchmark achieve a four-day run last week. Nearly half of the 30 largest companies by market capitalisation saw their share prices move down.

Declining stocks included Vietcombank (VCB), Vietinbank (CTG), property developer Vingroup (VIC) and brewer Sabeco (SAB), as well as dairy producer Vinamilk (VNM) and FLC Faros Construction (ROS).

PetroVietnam Gas (GAS), consumer holding Masan Group (MSN) and sugar producer Thanh Thanh Cong Tay Ninh JSC (SBT) also declined.

On the opposite side, property stocks remained attractive to investors. Six of the 10 most active stocks on the southern bourse were real estate companies.

FLC Group (FLC) and Hoang Quan Consulting-Trading-Service Real Estate (HQC) were the two most active stocks, with more than 25 million and 18.9 million shares being traded, respectively.

On the Ha Noi Stock Exchange, the HNX Index gained 0.17 per cent to end at 90.55 points. The northern market index rose 0.5 per cent on Friday.

The afternoon session starts at 1pm. — VNS

Comments (0)