VN stocks rise slightly due to profit-taking
Shares rose slightly on both local markets on Friday morning as investors increased selling to make profits from recent gains.
Shares rose slightly on both local markets on Friday morning as investors increased selling to make profits from recent gains.
The benchmark VN Index on the HCM Stock Exchange was up 0.08 per cent to end at 783.31 points. It gained total 0.9 per cent in the previous two sessions.
The HNX Index on the Ha Noi Stock Exchange inched up 0.07 per cent to close at 102.68 points. The northern market index underwent a seven-session rally of 4.7 per cent.
More than 196 million shares were traded on both exchanges, worth nearly VND3 trillion (US$132.8 million).
Shares of insurance firms and banks lifted the markets on Friday morning after both local indices hit fresh highs recently, allowing investors to offload their portfolios to earn short-term profits.
The insurance sector was boosted by Bao Viet Holdings (BVH) and PVI Holdings (PVI), which gained 0.9 per cent and 4.8 per cent, respectively.
Five of the nine listed bank stocks advanced, with Eximbank (EIB) and Sai Gon-Ha Noi Bank (SHB) being the strongest gainers.
Investors’ profit-taking hit stocks that had earlier made strong gains, such as brokerages and food and beverage producers.
Among those stocks were HCM City Securities (HCM), Sai Gon Securities (SSI), Sai Gon-Ha Noi Securities (SHS) and dairy producer Vinamilk (VNM).
The afternoon session starts at 1pm. — VNS
