Profit taking charms investors

August 07, 2012 | 17:00

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Stock market soon fell back Tuesday after yesterday’s sudden soar, with investors selling out.

The VN-Index fluctuated on Ho Chi Minh Stock Exchange (HoSE) and finally ended off 0.66 points (0.16 per cent) to 422.5 points.

Meanwhile, the HNX-Index dipped in red throughout the session. The benchmark ended at 69.58 points, down 0.87 points or 1.23 per cent on Hanoi Stock Exchange (HNX).

Liquidity also significantly reduced. Total matching value for two bourses was less than VND700 billion ($33.8 million).

Some 33.1 million shares worth VND548.3 billion ($26.5 million) changed hands on the southern bourse. Meanwhile, a big put-through value of nearly VND300 billion ($14.5 million) boosted total liquidity to 34.9 million shares worth VND540 billion ($26 million) on the northern bourse.

Numerous large-cap stocks eased back. Financial stocks Saigon Securities Inc. (SSI) shed 0.95 per cent, Bao Viet Holdings (BVH) 1.2 per cent and PetroVietnam Finance (PVF) off 1.63 per cent.

Banking stocks Eximbank (EIB), Vietinbank (CTG) and Sacombank (STB) were unchanged, Military Bank (MBB) slightly declined, while Vietcombank (VCB) climbed.

Vinamilk (VNM) reduced its gain, advancing only 0.98 per cent today. Several blue-chips like PetroVietnam Drilling and Well Services (PVD), PetroVietnam Fertilisers (DPM) were down, while others largely ended flat.

Pennies were strongly sold for locking profits today. Tay Bac Minerals Investment (KTB) outperformed the market with 2.1 million shares matched, advancing 3.49 per cent. Vietnam Electricity Construction (VNE) and Sacom Development and Investment Corp. (SAM) followed with some 1.5 million shares matched each.

Mineral stocks Nari Hamico Minerals (KSS) and Bac Giang Exploitable Mineral (BGM) were sold out at large volumes.

HNX’s leading stocks VNDirect Securities (VND), Kim Long Securities, Sacomreal (SRC) and PetroVietnam Construction (PVX) all ended down.

Matching volume of VNDirect Securities (VND) was of more than 4 million shares, while volumes of other top-active stocks reducing to just 1-2 million shares each.

High liquid stocks of the northern bourse like Vietnam Construction and Import-Export (VCG), Saigon-Hanoi Bank (SHB), Saigon-Hanoi Securities (SHS), Habubank (HBB) largely shed 2-3 per cent each.