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Shares mixed on profit-taking pressure


Shares mixed on profit-taking pressure

PV Gas' storage project with a capacity of one million tonnes of LNG a year in Thị Vải. The firm's shares led the downside on Wednesday, posting a fall of  一 per cent. — Photo pvgas.com.vn

HÀ NỘI — The VN-Index slipped on Wednesday after a two-day rally, ending at  一, 二 五 六. 五0 points, down 0. 一 九 per cent from Tuesday’s close, on rising profit-taking pressure.

Blue chips led the downturn on the Hồ Chí Minh Stock exchange with  二 四 of the top  三0 largest shares by market value and liquidity losing value and only six gaining.

Shares mixed on profit-taking pressure

The biggest losers dragging the VN-Index most included PV Gas (GAS), down  一 per cent; Vingroup (VIC), down 0. 八 per cent; steelmaker Hòa Phát Group (HPG), down  一. 二 per cent; and Vietinbank (CTG), down  一. 二 per cent.

“The market rallied and continued to face strong profit-taking pressure at high price ranges,” Phương Phạm, a stock analyst at Việt Dragon Securities Co. said, adding the rising movement triggered profit-taking pressure in many sectors, meaning the index could not maintain the gaining momentum and struggled slightly.

The VN-Index has gained  四. 三 per cent this month.

Shares mixed on profit-taking pressure

The market diverged with  一 二 sectors declining and  一 三 increasing. Mining and oil, finance and acco妹妹odation were among the biggest gainers while consulting services, seafood processing, construction materials and plastics were the biggest losers.

In the mining and oil sector, Bình Định Minerals (BMC), PetroVietnam Drilling and Wells Service (PVD), and PetroVietnam Technical Services (PVS) increased between  三 per cent and  七 per cent. In the seafood sector, six of eight listed firms slumped, of which Nam Việt Corp (ANV) edged down  一. 八 per cent while Cửu Long Fish (ACL), Vĩnh Hoàn Corp (VHC), I.D.I International Development Investment (IDI) and Sao Ta Foods (FMC) decreased by less than  一 per cent.

“With the opposite movement before the resistance level of  一, 二 六0- 一, 二 八 三 points, the market is still showing signals of caution when the index falls deep into the resistance level, and the effort to absorb supply is still supporting the market,” Phương said.

Nearly  六 五 二 million shares worth VNĐ 一 四. 四 trillion were traded in HCM City’s market, down  一0 per cent in both volume and value compared to Tuesday’s levels.

By contrast, the HNX-Index on the Hà Nội Stock Exchange rose for a third day this week, closing 0. 七 一 per cent up at  三0 三. 五 四 points. The northern bourse’s index has gained  一. 二 per cent in the last three sessions.

Liquidity increased slightly here with  一0 二 million shares worth VNĐ 二 trillion being exchanged. — VNS

Shares mixed on profit-taking pressure


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