May 2: Vietnam Stocks Fall on Profit Taking

04-May-2012 Intellasia | StoxPlus | 7:05 AM Print This Post

Vietnamese stocks kicked off May in the red as investors sold offloaded shares to lock in profit as selling pressure rose on concerns over a possible retreat in May.

The benchmark VN Index lost 1.31 points or 0.28 percent to 472.46. Volume rose 37.3 percent to 118.3 million shares worth of VND1.78 trillion. Put-through trading contributed 3.4 million shares worth VND104.6 billion.

The market breadth was still positive on the primary bourse where 135 stocks advanced, 129 fell, 46 closed unchanged of which 64 hit the ceiling, 47 limited down.

The VN30 Index also fell 1.48 points or 0.27 percent to 539.72.

The market opened in the green with 7.7 million shares changed hands. Early trading was positive, buying interest was firm to keep the market heat. However, selling pressure was seen at the high prices, paring the market gain, and the index closed the morning session off the high.

The selling pressure became aggressive in recent hot stocks, some even fell from the ceiling in the morning session to the floor. Bargain hunters pared the loss and market closed the day off the low, but in the red.

Hot stocks such as HSG, SAM, DRC, ITC, NTL fell to the floor, while CSM, VNE were losers, supply was high. Banking stocks, property shares were losers.

Outperformers today saw the names of electricity generator such as PPC, VSH wSTC share prices limited up.

Active players were BGM with 5.5 million shares traded, closing up 1.9 percentto VND10,700; KSS with 4.8 million shares traded, limiting down at VND12,800, closing up, SAM with 4 million shares traded, limiting down at VND9,300.

On the Hanoi Stock Exchange, the HNX index lost 0.51 point or 0.64 percent to 78.35. Trading volume rose 31.7 percent to 89 million shares worth VND928.9 billion.

HBB caught market attention again with 12 million shares changed hands, limiting down at VND6,700 each after its AGM passed the merger plan into SHB.

Other active players were PVX with 5.6 million shares traded, closing down 2.6 percent to VND11,200; SCR followed with 4.3 million shares traded, closing down 6.8 percent to VND15,200.

Market leading shares like KLS, VND, PVX, and VCG were all losers.

 


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