Shares sink on profit-taking

Shares fell on both local markets on Tuesday morning as investors increased their selling to make profits from recent market gains. — Photo ndh.vn

Shares fell on both local markets on Tuesday morning as investors increased their selling to make profits from recent market gains.

The benchmark VN Index on the HCM Stock Exchange dropped 0.51 per cent to end at 742.45 points, reversing from a two-day rise of 0.6 per cent.

The HNX Index on the Ha Noi Stock Exchange inched down 0.17 per cent to close at 93.65 points, retreating from a four-day rally of 2.1 per cent.

More than 181.2 million shares were traded in the morning, worth VND3.1 trillion (US$138.15 million).

Nineteen of the 20 sectors on the stock market saw share prices decline, with brokerages, energy firms, banks and insurance companies being the worst decliners.

Shares of energy firms were pulled down by lower oil prices during trading sessions in Asia. Brent crude was down 0.2 per cent to trade at $52.18 per barrel.

Meanwhile, shares of banks, brokerages and insurance-finance firms continued to suffer from profit-taking, which had narrowed the growth of market indices on Monday.

Decliners included Vietinbank (CTG), Sacombank (STB), Bao Viet Holdings (BVH) and VNDirect Securities (VND), as well as Sai Gon-Ha Noi Securities (SHS) and Sai Gon Securities (SSI).

Sacombank has reported a post-audit combined pre-tax profit of VND155 billion, lower than the number before the bank was audited.

The afternoon session starts at 1pm. — VNS



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