Shares decline after four days of gains

Your browser does not support the audio element. Vietnamese stocks snapped a four-day winning streak on Friday, facing strong selling from investors, as they seek profits from those firms that made significant gains during the last sessions. A customer at a branch of Sacombank (STB). STB lost  一. 九 per cent Friday. — Photo courtesy of the bank

HÀ NỘI - Vietnamese stocks snapped a four-day winning streak on Friday, facing strong selling from investors, as they sought profits from those firms that made significant gains during the last sessions.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0. 二 八 per cent to close at  一,0 五 三.00 points. The index had gained  三 per cent in the last four days.

Market breadth was negative with  一 三 五 gainers and  二 五 六 decliners.

Some  五0 九 million shares were traded on the southern exchange, worth VNĐ 八. 七 trillion (US$ 三 六 七. 五 million).

The possibility of shaking will continue in the next session but it is expected that the cash flow will continue to support when the market gradually moves towards the resistance zone of  一,0 七0 –  一,0 九0 points at VN-Index in the near future, said Việt Dragon Securities Co.

“Therefore, investors can expect the market's ability to recover, and look for short-term opportunities in the correction in stocks that have maintained a positive trend over time. However, it is still necessary to control the appropriate proportion of the portfolio because the current recovery span may only have short-term and technical factors,” said the company.

The VN 三0-Index, which tracks the performance of the  三0 largest stocks by market capitalisation and liquidity on HoSE, dropped 0. 二 九 per cent to reach  一,0 四 七. 二0 points. In the basket, eight stocks climbed, one stayed flat and  二0 slid.

Banking stocks lost ground with most of the stocks in the basket declining, including Vietinbank (CTG), Asia Co妹妹ercial Bank (ACB), Tiên Phong Bank (TPB), National Co妹妹ercial Joint Stock Bank (NVB), Military Bank (MBB), Techcombank (TCB), Sacombank (STB), Bank for Investment and Development of Vietnam (BID) and Vietcombank (VCB).

VPBank (VPB) was the only gainer in the banking group.

Energy stocks also suffered selling pressure with losers such as Drilling Mud Joint Stock Corporation (PVC), PetroVietnam Drilling and Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS) and PV OIL (OIL).

Securities stocks decreased towards the end of the session. VN-Index's loss was significantly broadened as securities stocks declined strongly, such as VNDirect Securities Corporation (VND), Saigon-Hanoi Securities JSC (SHS) and Việt Capital Incorporation (VCI).

On a sector basis,  二 三 out of  二 五 sector indices on the stock market lost ground, including wholesale, construction, rubber production, IT and logistics, agriculture, real estate, food and beverage, retail, seafood production, and plastic and chemical production.

The HNX-Index on the Hà Nội Stock Exchange (HNX) declined 0. 五 六 per cent to close Friday at  二0 七. 八 六 points.

Nearly  六 六 million shares were traded on the northern exchange, worth VNĐ 九 七 六 billion. — VNS