Hanoi (VNA) - Vietnamese shares were mixed on September 6 for a second day as blue chips fell on late sellin🐻g and energy stocks rebounded on rising crude prices.
The benchmark VN Index inched down 0.1 percent to finish at 663.90 points, erasing gains made during the session.
The slight fall also marked the third downward session for the southern index with a total loss of 1.6 percent.
The HNX Index on the Hanoi Stock Exchange rose 0.2 percent to close at 84.35 points, extending a gain of 0.4 percent for a second day.
“Large-cap stocks continued to suffer from late selling, which was the major factor that pushed markets away from early gains,” BIDV Securities Co (BSC) wrote in its daily report.
Dairy firm Vinamilk (VNM) yesterday fell 2.6 percent, Bank for Investment and Development of Vietnam (BID) edged down 0.3 percent, and insurer Bao Viet Holdings (BVH) dropped 0.8 percent.
“Steel companies such as Hoa Sen Group (HSG) and Nam Kim Steel JSC (NKG) showed signs of correction after having risen recently,” BSC said.
HSG lost 2 percent from a four-day rally of 8.4 percent and NKG plunged 6.9 percent after surging 14 percent in the previous four sessions.
Pharmaceutical firms were driven down by Duoc Hau Giang Pharmaceutical JSC (DHG) and Domesco Medical Import Export Corp (DMC), which in turn fell 2 percent and 6.8 percent.
DHG had gained 6.4 percent in the previous sessions, while DMC slumped 6.8 percent to total a two-day decline of 7.8 percent after jumping 13.6 percent in three trading days.
Foreign investors remained net sellers yesterday, focusing on blue chips, and that also weighed on the market. Foreign net sell value was 162.86 billion VND (7.23 million USD).
Vietnam’s central bank yesterday reduced its daily reference mid-point rate for currency-exchange trading between the Vietnamese dong and the US dollar by 3 VND to 21,922 VND for a dollar.
On the positive side, energy stocks rebounded as crude prices increased for a third day and consumer goods producer Masan Group began its share buyback activity.
Benefiting from higher oil prices, PetroVietnam Gas Corp (GAS) advanced 1.6 percent and PetroVietnam Technical Services Corp (PVS) added 1.9 percent.
Consumer goods producer Masan Group (MSN) increased by 1.5 percent as its one-month share buyback programme began on September 6.
Investors exchanged more than 155 million shares worth 3.43 trillion VND, a slight increase from the September 6 trading liquidity.-VNA
Vietnamese shares retreated from a two-day gain as blue chips ran into profit-taking after recent gains brought some of them to their highest-ever prices.
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Illustrative Image (Photo: vietstock.com.vn)
