May 8: Vietnam Stocks Close Mixed as Profit Taking Rises

The benchmark VN Index rose 1.76 points or 0.36% to 488.07. Volume rose 32.5% to 133.2 million shares worth VND2.22 trillion. This is the highest volume and turnover in multi-months.

The market breadth was positive on the primary bourse where 181 stocks advanced, 95 fell, 33 closed unchanged of which 98 hit the ceiling, 26 limited down.

The VN30 Index rose faster than the broader market, posting a gain of 4.72 points, or 0.85%, to 557.02 with 38.2 million shares changed hands for VND812 billion.

The market opened in the green with 6.1 million shares changed hands. The trading pace was steady, and buying was in general aggressive despite some profit taking into hot stocks seen. Buyers became more aggressive in late morning trading, sending the index higher.

However, the afternoon session opened with renewed selling pressure as traders took profits. Mineral share prices fell sharply to the floor including KAS, KSB, KSS, BMC,  some hot stocks such as SAM, SBT, HAP also saw floor action.  

The most notable trading today was the soaring of banking stocks led by STB and MBB which limited up with high demand, however, the selling pressure was also high in MBB that 7.55 million shares were changed hands. Banking stocks were stronger than the market in general, however, the concerted strong performance has not seen yet.

Petro group stocks continued to outperform, most of shares in this group limited up.

Military Bank (MBB), the most active stock on a trade of 7.6 million shares, surged 4.67% to end at VND15,700.

Tan Tao Investment – Industry Corporation (ITA), coming second in liquidity with 6 million shares changed hands, looked up 1.1% to settle at VND9,300.

Vinh Son – Song Hinh Hydropower Joint Stock Company (VSH) leaped 2.2% to finish at VND14,000 on a trade of 3.6 million units – the third most active.

On the Hanoi Stock Exchange, the HNX bucked trend to close down 0.15 point or 0.18% to 83.64, marginally at the low of the day. Trading volume rose 24.2% to 123.4 million shares worth VND1.44 trillion. Of note, afternoon trading was very active and both volume and value nearly doubled that in the morning session.

The market breadth was still positive where 182 stocks advanced, 170 fell, 44 closed unchanged of which 84 hit the ceiling, 30 limited down.

Hanoi-based lender Habubank (HBB), the most active on the measure with 10 million shares changed hands, climbed 1.52% to end at VND6,700.

PetroVietnam Construction (PVX), coming second in liquidity on a trade of 5.6 million units, dipped 3.36% to end at VND11,500 per share.

VNDirect Securities (VND) shed 3.5% to settle at VND13,800 on a trade of 5.3 million shares – the third most active.