"SSI shares was among the major stocks heavily impacted by market moves," said Ha Noi broker Nguyen Van Quy. "It is also among the group of securities stocks which achieved some of the most impressive gains the day before."
A sell-off of SSI began as soon as the shares hit a five-month high of VND33,000. A wave of profit-taking spread to other stocks, driving down 145 out of 230 listed shares on the HCM City Stock Exchange. SSI closed off 1.2 per cent on a heavy volume of 3.6 million shares.
The VN-Index ended the session down 0.12 per cent to 478.75 points. The volume of trades fell 30.4 per cent from Tuesday to 61.9 million shares, worth VND1.4 trillion (US$66.7 million).
On the Ha Noi Stock Exchange, the HNX-Index declined by 1.64 per cent to 112.93 points, with losers outperforming advancers by 199-106. Volume remained high at 50.7 million shares, worth VND1.1 trillion ($52.8 million).
Securities stocks fell by 1.4 per cent overall on both exchanges, Quy said, with only VNDirect Securities (VND) and Kim Long Securities (KLS) – the most active stock of Ha Noi market, with 7.3 million shares traded – closing flat.
"The brisk at trading volume, especially in Ha Noi, meant an existance of hot money inflows, which could create a turnaround in the final days of the year," Quy said.
Le Cong, an analyst with the financial services provider Stoxplus Corporation, said that market correction could drive sentiment in the next two sessions, but, with all major economic data released, the market was unlikely to see any big changes.
Foreign investors increased their sales on both exchanges, unloading nearly 8 million shares, while buys remained strong at 7.1 million.Source: vnagency.com.vn
No comments:
Post a Comment