Selling pressures set the tone

The Ho Chi Minh Stock Exchange’s (HoSE) benchmark VN-Index closed at 520.23 points, down 2.36 points or 0.45 per cent against previous session.

Blue-chips stocks largely fell, of which the market driving stock Bao Viet Holding (BVH) shed 2.05 per cent to VND95,500, Vietinbank (CTG), 0.75 per cent, Masan Group,1.68 per cent, while Hoang Anh Gia Lai Group (HAG) losing 1.75 per cent.

Sai Gon Securities Inc. (SSI), Sacombank (STB) and Vinamilk (VNM) were flat.

The real estate stock Itaco (ITA) was active most on the southern bourse with nearly 4.6 million units changing hands. The stock was strongly bought after the company announcing its 2010’s after-tax profit nearly doubling 2009’s.

Trading value remained low under VND1 trillion level at VND796.36 billion ($39.82 million), while volume stood at 31.58 million shares.

At the close, 80 stocks advanced on the HoSE, while 122 fell and 83 ended flat.

On the Hanoi Stock Exchange (HNX), the benchmark HNX-Index lost 0.72 points, or 0.66 per cent, to 107.67 points. Habubank (HBB) and Asia Commercial Bank (ACB) were among the losers dragging the benchmark down.

PetroVietnam Services (PVS), PetroVietnam Construction (PVX) and Ocean Holding (OCH) shed also from 1 to 2 per cent.

Liquidity fell 36.75 per cent to 17.48 million shares, worth VND340.49 billion ($17.02 million).

Overall, 86 stocks rose while up to 196 down, 43 unchanged and 48 had no transactions.

Foreigners were net sellers today on the HoSE, where they bought VND103.33 billion ($5.17 million) of 2.4 million shares while selling VND115.47 billion ($5.77 million) of 2.73 million shares. Blue-chips like SSI, VCB, FPT, PVD and BVH were purchased most.

Meanwhile, they kept net buying on HNX with 707,500 units bought and 485,500 sold. The codes PVX, KLS, PVI, VNR and SCR led the purchased stocks, while PVI, PVX, VNR, TDN and BVS leading sellers.