Local shares dip after four-day rally

An investor follows transactions at Sài Gòn Securities Inc (SSI) in Hà Nội. — VNA/VNS Photo Việt Thanh

HÀ NỘI — Shares fell slightly Wednesday on the Hà Nội Stock Exchange after rising for four consecutive sessions, due to investors’ profit-taking attempts that hit the large-cap stocks in the energy and banking sectors.

The southern stock exchange has been shut down for two days in a row. It experienced a technical crash at  二. 三 一pm on Monday, halting all trading activities.

The HNX Index declined slightly, 0.0 五 per cent, to end at  一 二 六. 二 六 points. The northern market index rose nearly  五 per cent in the last four sessions.

Over  六0 million shares were traded on the northern exchange, worth nearly VNĐ 一. 一 trillion (US$ 四 八. 三 million), down  四 四 per cent in volume and  二 七 per cent in value compared with Tuesday’s figures.

According to Bảo Việt Securities Company (BVSC), market liquidity remained relatively below the moderate level, while market breadth was neutral. Investors turned cautious after the bullish session on Tuesday. Cash inflows weakened as a number of stocks on the Hà Nội Stock Exchange surged in the previous session.

“From our view, cash inflows will return to large-cap stocks on the HCM City Stock Exchange (HOSE) when this bourse reopens in the next few days,” BVSC said in its daily report.

The market trading condition was quite balanced, with  九 三 gaining stocks against  九 五 declining ones and  六 七 stocks closing unchanged.

The energy sector suffered large selling pressure, with laggards including PetroViet Nam Coating JSC (PVB) and PetroVietnam Technical Services Corporation (PVS), down  二. 二 三 per cent and 0. 三 二 per cent, respectively.

The brokerage sector also saw a weak performance, with Sài Gòn – Hà Nội Securities JSC (SHS) and BVSC, declining 0. 四 二 per cent and 0. 九 七 per cent.

Other losers were construction-material producers, including Viglacera Tiên Sơn Joint Stock Company (VIT), down  二. 九 八 per cent.

Foreign investment on HNX became more positive on Tuesday than the previous sessions with net buying of over VNĐ 一 八. 七 billion. Việt Nam Construction and Import-Export Joint Stock Corporation (VCG) received the greatest amount of foreign capital with VNĐ 八. 八 billion. The second-largest receiver was PVS with nearly VNĐ 八 billion.

 “The two-day shutdown of the HoSE can certainly have an impact on investors’ sentiment after the bourse reopens. However, the market’s uptrend in the mid-term is still sustained as a number of large listed companies have revealed solid earnings results in  二0 一 七,” BVSC said in its daily report. — VNS