Feb 10: Vietnam Stocks Retreat on Profit Taking

The benchmark VN Index fell 6.37 points, or 1.55% to end at 405.02. Volume fell to 49.9 million shares worth VND704.57 billion, including 4 million shares worth of VND88.34 billion changed hands in the put-through deals.

VN Index opened in the red with 1.6 million shares traded .Selling pressure rose as traders decided to take profit after recent hefty rally, sending the market down further in the continuous trading session.  Though the market closed off the low, the loss was fairly big and many stocks closed at the floor.

Newly introduced VN30 lost 6. 5points or 1.4% to 458.23 today. Volume was steady at 20.8 million worth of VND378.63 billion.

Market breadth was broadly negative. Among 306 listed firms on HOSE, losers outweighed gainers by 201-57 and 48 stocks unchanged.

Military Commercial Joint Stock Bank (MBB) was the most active stock today, with 4.1 million shares traded, closing up 2.3% to VND13,400.

Military Bank (MBB), the most active stock with 3.1 million shares changed hands, slid 1.5% to end at VND13,200.

Tan Tao Investment – Industry Corporation (ITA), the second most active on a trade of 3 million units, tumbled 4.71% to settle at VND8,100.

Sacombank (STB) jumped 3.8%, settling at VND21,900 with a trade of 2.5 million shares – the third most active.

On the Hanoi Stock Exchange, the HNX closed down 1.13 points or 1.77% to 62.69. Trading volume eased to 45.7 million shares traded for VND344.5 billion of which 1.3 million shares worth VND26 billion were changed hands in put-through deals.

Market breadth turned negative with 120 gainers, 200 losers and 73 flat issues, including 51 ceiling gainers and 28 floor decliners.

Hanoi Building Commercial Joint Stock Bank (HBB) was the most active position with heavy volume of  6.2 million shares changed hands, closing up 4% to VN5,300 on average.

VNDIRECT Securities Corporation (VND) ranked second in the list with 4 million shares traded, closing down 5% to VND7,700 on average.

Saigon – Hanoi Commercial Joint Stock Bank (SHB) came third with 3.5 million shares traded, closing up 2.7% to VND7,900 on average.