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Shares reverse uptrend to drop on profit-taking pressure

HÀ NỘI - Việt Nam's stock market reversed to drop slightly on Tuesday as a series of large-cap stocks lost ground on strong profit-taking pressure.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost 0. 四 一 per cent to end at  一, 四 六 一. 五0 points.

The index had gained 0. 七 六 per cent to end Monday at  一, 四 六 七. 五 七 points.

The market's liquidity was negative with  二00 stocks rising, while  二 五 三 slid.

Investors poured over VNĐ 三0 trillion (US$ 一. 三 billion) into the southern exchange, equivalent to a trading volume of  一 billion shares.

The  三0 biggest stocks tracker VN 三0-Index lost 0. 五 六 per cent, to end at  一, 五 二 七. 一 三 points. Nine in the VN 三0 basket climbed, while  二0 decreased and one stayed flat.

Losers in the VN- 三0 group included Saigon-Hanoi Bank (SHB), down  三. 二 per cent, Kido Group JSC (KDC), losing  二 per cent, Phú Nhuận Jewelry (PNJ) falling  一. 九 per cent, Masan Group (MSN) dropping  一. 八 per cent, PetroVietnam Gas JSC (GAS) losing  一. 九 per cent and Vinamilk (VNM) falling  一. 一 per cent.

“Today, the market experienced a slight correction due to profit-taking pressure after setting a new high in the session. At the end of the session, the VN-Index dropped more than  六 points,” said BIDV Securities Co.

“Market breadth tilted to the negative side. Regarding the transactions of foreign investors, today they were net buyers on the HSX and net sellers on the HNX.

“The market may maintain the movement trend around  一, 四 六0 points as market liquidity is still at a stable level,” it said.

Foreign investors net bought VNĐ 七. 五 七 billion on HOSE, including Hoà Phát Group (HPG) with VNĐ 一 七 二. 九 三 billion, Vietinbank (CTG) with VNĐ 九 四. 九 九 billion, and Vinhomes (VHM) with VNĐ 八 五. 九 三 billion.

Foreign investors were net sellers on HNX with the value of VNĐ 一. 七 一 billion.

On a sector basis, losers were wholesale, retail, information and technology, banking, food and beverage, rubber production, construction, construction materials and seafood processing.

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 0. 一 二 per cent to end Tuesday at  四 三 二. 六 四 points.

The index had risen  一.0 四 per cent to end Monday at  四 三 二. 一0 points.

During the trading session, more than  一 四 三 million shares were traded on HNX, worth nearly VNĐ 三. 八 trillion. — VNS