Local shares dip after four-day rally

An investor follows transactions at Saigon Securities Inc (SSI) in Hanoi (Photo: VNA) Hanoi (VNA) -Shares fell slightly on January 24 on the Hanoi Stock Exchange after rising forfour consecutive sessions, due to investors’ profit-taking attempts that hitthe large-cap stocks in the energy and banking sectors.The southern stock exchange has been shut down for two days in a row. Itexperienced a technical crash at 2.31pm on January 22, halting all tradingactivities.The HNX Index declined slightly, 0.05 percent, to end at 126.26 points. Thenorthern market index rose nearly 5 percent in the last four sessions.Over 60 million shares were traded on the northern exchange, worth nearly 1.1trillion VND (48.3 million USD), down 44 percent in volume and 27 percent invalue compared with January 23’s figures.According to Bao Viet Securities Company (BVSC), market liquidity remainedrelatively below the moderate level, while market breadth was neutral.Investors turned cautious after the bullish session on Tuesday. Cash inflowsweakened as a number of stocks on the Hanoi Stock Exchange surged in theprevious session.“From our view, cash inflows will return to large-cap stocks on the HCM CityStock Exchange (HOSE) when this bourse reopens in the next few days,” BVSC saidin its daily report. [Top 10 events of Vietnam’s stock market in 2017 announced]The market trading condition was quite balanced, with 93 gaining stocks against95 declining ones and 67 stocks closing unchanged.The energy sector suffered large selling pressure, with laggards includingPetroVietnam Coating JSC (PVB) and PetroVietnam Technical Services Corporation(PVS), down 2.23 percent and 0.32 percent, respectively.The brokerage sector also saw… [Read full story]

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