Vietnam Shares Edge Lower as Profit Taking Weighs

The benchmark VN Index of the Ho Chi Minh Stock Exchange (HOSE) pulled back 0.74 points, or 0.07%, to settle down at 1,123.41, off the intraday high of 1.135.02.
Volume was moderate with 216.9 million shares worth 6.90 trillion dong ($304 million) traded, compared to 200.92 million shares valued at 5.72 trillion dong on Thursday.
Investors were excited in early session after the 11 remaining members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) signed the agreement in Chile on March 8. Textile and apparel companies, led by TCM, rallied.
The upward lost momentum in the afternoon trade as investors booked profits, mostly real estate shares, when the VN Index moved around 1,130 – a key resistance threshold that it has failed to conquer several times.The gauge rose 0.2% this week.
Gains in financials including Bao Viet Holdings (BVH), VietinBank (CTG), MB Bank (MBB), and Vietcombank (VCB) prevented the main index from falling further.
Liquidity remained stable with the number of gainers and losers almost balanced, BIDV Securities said, adding short-term profit-taking sentiment at the peak still hindered the breakout.
“It is likely that the VN Index will continue to shake before surpassing the short-term peak in next week,” the brokerage said.
Foreign investors refrained from selling this week, helping buoy investor sentiment, MB Securities said, predicting the VN Index to test the resistance level of 1,130 next week.


Tin liên quan
  • Vietnam Shares Fall on Profit Booking, Cash Seen Channeled into Midcaps
  • Vietnam Shares Unexpectedly Plunge as ETFs Reshuffle Holdings
  • Vietnam Shares Rebound on Banks, Property Firms; Cash Seen Running to Midcaps
Cùng dòng sự kiện
Từ khóa: VN Index, VietinBank, Vietcombank
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