Shares slip on profit-taking

Investors at Sai Gon Securities Inc. — Photo

Vietnamese shares traded negative in both local markets on Monday, as investors took profits from recent gains.

The benchmark VN Index on the HCM Stock Exchange rose 0.02 per cent to close at 793.11 points. It had gained a total of 0.9 per cent in the previous three sessions.

The HNX Index on the Ha Noi Stock Exchange ended 0.02 per cent down at 102.38 points, retreating from a three-day increase of a total 1.4 per cent.

Around 185.5 million shares worth VND2.7 trillion (US$120 million) were traded across the two local exchanges.

The stock market declined as the sectors such as insurance firms and energy companies that had gained in the previous three sessions suffered from investors’ profit-taking; brokerages were mixed.

The insurance and energy sector indices were down 0.6 per cent each, while the brokerage sector index was flat.

The biggest loser in the insurance sector was BIDV Insurance Corp (BIC), which slumped 3.7 per cent. Among losing energy stocks were PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Technical Services (PVS), which dropped 1.9 per cent and 1.7 per cent, respectively.

At the other end, brewer Sabeco (SAB) was among the several large-cap stocks that ended the morning session in positive territory.

SAB edged up 0.4 per cent after the company, at its annual shareholder meeting, announced a dividend payout of 35 per cent, worth VND2.24 trillion, in 2017.

The afternoon session starts at 1pm. — VNS

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