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Posts Tagged ‘profit-taking’

VN-Index retreats due to profit-taking

In Uncategorized on December 16, 2010 at 10:09 am

Vietnam’s benchmark VN-Index, a measure of 270 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, snapped its three-day winning streak on December 7 under profit-taking pressure.

The gauge slumped 1.03 percent, or 4.8 points, to close at 460.76 points.

Of the index members, 46 advanced, 195 declined, while 34 were unchanged.

Trading volume on the city bourse slightly dropped over the previous day. Around 85.02 million shares changed hands at a value of VND1.98 trillion, a decrease of 12 percent in volume and 17 percent in value.

Saigon Securities Inc. (SSI) continued to win the position of most active share in volume with 6.08 million shares changing hands.

Investment and Trading of Real Estate Joint Stock Company (ITC) followed with 4.94 million shares.

LICOGI 16 Joint Stock Company (LCG) came next with 3.09 million shares traded.

Dam Sen Water Park Corporation (DSN) curbed its five-day rising streak, slashing 9.64 percent to VND25,300.

Other losers in the southern trading floor included An Phu Irradiation Joint – Stock Company (APC), Ba Ria Thermal Power Joint Stock Company (BTP), and Petro Capital & Infrastructure Investment Joint Stock Company (PTL).

TMT Automobile Joint Stock Company (TMT) went up for the third day, gaining 5 percent to trade at VND16,800.

Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL) extended gains for four straight days, edging up 4.98 percent to VND23,200.

Viet Thang Aquafeed Joint Stock Company (VTF) surged 4.91 percent to VND17,100.

The smaller bourse in the north also finished in read as the Hanoi’s HNX-Index tumbled 2.46 percent, or 2.88 points, to 114.19 points. Around 80.8 million traded at VND1.6 trillion.

The UPCom-Index dipped 1.09 points to 40.68 points this morning. A total of 420,000 shares changed hands at a value of VND4.4 billion as of 11:15 am local time.

Source: SGGP

VN-Index makes correction due to profit-taking

In Uncategorized on November 8, 2010 at 8:21 am

VN-Index declines due to profit-taking

In Uncategorized on May 5, 2010 at 8:51 am

The Vietnam’s benchmark VN-Index slid on May 5 as investors sold heavily to book profits.

The index of 226 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange lost 0.2 percent, or 1.11 points, to finish at 548.01. Liquidity on the market remained high with more than 86.7 million shares changing hands at VND3 trillion.

Of the index, 86 stocks gained, 120 dropped, and 24 were unchanged.

Sonadezi Long Thanh (SZL), which operates in real estate, fell 4.94 percent to trade at VND44,300 from VND46,600.

Cavico Viet Nam Mining and Construction Joint Stock Company (MCV) slid 4.86 percent to VND33,300.

Other big losers on the city bourse included Thien Nam Trading Import Export Corporation (TNA), Vinpearlland Tourism Joint Stock Company (VPL), and Seafood Joint Stock Company No4 (TS4).

House Viet Nam Joint Stock Company (NVN), Post and Telecommunications Investment and Construction Joint Stock Company (PTC), and Binh Duong Trade and Development Joint Stock Company (TDC) led the list of big winners on the southern market. They all added up the daily maximum allowed limit of 5 percent to VND35,700, VND23,100, and VND37,800 respectively.

Cuu Long Fish Joint Stock Company (ACL) rose by 4.98 percent to VND44,300.

Saigon Commercial Bank or Sacombank (STB) was the most active stock in volume, seeing more than 4 million shares being traded.

Viet Nam Tanker Joint Stock Copany (VTO) followed with 2.62 million shares trading up 3.68 percent over the previous day. Petrovietnam Finance Joint Stock Corporation (PVF) came next with 2.61 million shares.

The smaller bourse in the north also dipped in red as the Hanoi’s HNX-Index dropped 1.1 points, or 0.6 percent, to 183.21. Around 62.3 million shares, worth VND2 trillion, were traded.

The UPCoM-Index made a contrast moving, rising 1.45 points to close at 51.28. A total of 458,224 shares, worth VND7.57 billion, changed hands.

Source: SGGP

Profit-taking hits Vietnam’s stock markets

In Uncategorized on April 13, 2010 at 9:40 am

Vietnam’s benchmark VN-Index retreated on April 13 as investors sold heavily to book profits after it advanced for seven straight days.

The index of 219 companies and four mutual funds on the Ho Chi Minh Stock Exchange lost 0.38 percent, or 1.95 points, to 517.98. Trading volume was at around 53.74 million, worth VND2.19 trillion.

Of the index, 46 stocks gained, 139 dropped, and 38 were flat. All banking shares declined.

Declines on the southern bourse were led by cement producer Ha Tien 1 Cement Joint Stock Company (HT1), Godaco Seafood Joint Stock Company (AGD) in the Mekong Delta province of Tien Giang, and HCMC-based light tubes and light bulbs maker Dien Quang Joint Stock Company (DQC).

Hanoi-based Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SJS) topped the list of the most active stock in volume with 1.89 million shares trading up 1.28 percent to VND79,000.

Pha Lai Thermal Power Joint Stock Company (PPC) came next with 1.66 million shares, followed by Saigon Commercial Bank or Sacombank (STB), which saw more than 1.49 million changing hands.

The newly listed Pacific Property and Infrastructure Development and Investment Joint Stock Company (PPI) was the biggest gainer today. The company’s shares rose by 4.95 percent to VND40,300.

Technology company CMC Corporation (CMG), located in Hanoi, rose by 4.83 percent to VND30,400.

HCMC-based Duc Thanh Wood Processing Joint Stock Company (GDT) added up 4.82 percent to VND23,900.

The smaller bourse in the north also performed badly as the HNX-Index fell 2.66 points, or 1.55 percent, to 168.57. More than VND1.47 trillion was spent on 43.64 million shares.

The UPCoM-Index also dipped, losing 0.12 points to finish at 42.41 points. A total of 4.27 million shares were traded at VND67.8 billion.

Source: SGGP

Profit-taking, recovery fears weigh on Asian markets

In Uncategorized on April 8, 2010 at 11:56 am

HONG KONG, April 8, 2010 (AFP) – Investors cashed in on recent gains in Asian stock markets Thursday with optimism over the global economic recovery tempered by worse-than-expected credit data out of the United States.

The fears also pushed the dollar down against the yen, while the euro was hit by further problems for Greece over its debt.

Japanese exporters were big losers on the strengthening Japanese currency, sending the Nikkei index 1.10 percent or 124.63 points lower to close at 11,168.20.

The dollar stood at 93.23 yen, down from 93.37 yen in New York Wednesday.

The market was also weighed by data showing Japanese core private-sector machinery orders, a leading indicator of corporate capital spending, fell 5.4 percent in February. Expectations were for a 3.9 percent rise, according to a Dow Jones Newswires poll.

The figure marks the second consecutive monthly fall, following a 3.7 percent decline in January, highlighting the economy’s fragility.

Hong Kong ended 0.28 percent lower, dropping 61.73 points to 21,867.04, while Shanghai closed down 0.94 percent, or 29.51 points at 3,118.71.

Investors were following a lead set by Wall Street, which gave up 0.66 percent after a central bank report showed demand for consumer credit was much weaker than expected in February.

The Federal Reserve said credit balances fell 11.5 billion dollars from January, to 2.448 trillion dollars, down 5.6 percent from a year ago. Forecasts had been for a drop of 0.7 billion dollars.

“This was a disappointing report, showing that households are continuing to pare back credit,” Barclays Capital analysts told clients.

Eyes will be on fresh figures out of the US next week, including retail data, consumer prices and corporate inventories as well as the Federal Reserve’s Beige Book report.

Investors also digested a speech by Fed chairman Ben Bernanke, who warned that the US, facing enormous budget deficits, would have to choose between higher taxes or lower social spending.

Asian shares were also subject to profit-taking after most regional bourses had risen five percent in March.

“There are positive signs emerging from the global economy with upbeat US jobs data released last week supporting this view. However, I think it’s still too early to say that the global recovery is strong,” Daewoo Securities’ fixed income analyst Yoon Yeo-Sam told Dow Jones Newswires in Seoul.

“There are still many people without work and exports in Asia are not picking up as much as we had hoped.”

Fresh concerns over the eurozone debt crisis emerged after Greece’s borrowing costs jumped, with investors losing faith in an EU-IMF deal to help Athens.

For the second time this week, the return on Greek 10-year bonds — a key sovereign debt instrument — jumped above seven percent, beyond what the country can sustain in its efforts to raise billions of euros by next month.

The euro fetched 1.3332 dollars in Tokyo afternoon trade, down from 1.3342 in New York trade late Wednesday. It also fell against the yen at 124.29 in Tokyo from 124.43.

Australian unemployment remained at 5.3 percent in March, official figures showed, giving a strong indication of a recovery in full swing.

The figure of 5.3 percent contrasts with 9.7 percent in the United States and a record 10 percent in the 16-nation eurozone, which were both hit hard by the economic crisis.

Despite the news, Sydney stocks closed 0.46 percent, or 23 points, lower at 4,937.9, with weak commodities prices hitting resources chips.

US Treasury Secretary Timothy Geithner was due in Beijing Thursday to hold talks expected to focus on the yuan, with hopes that Beijing may allow its currency to appreciate.

The United States and China’s other key trading partners have been pressing for a stronger yuan, saying it is undervalued and gives exporters an unfair advantage.

The Chinese currency has been effectively pegged at 6.8 to the dollar since mid-2008, and US lawmakers have been pushing the US Treasury to label China a “currency manipulator” — which would open the door to sanctions.

Oil was lower, with New York’s main contract, light sweet crude for delivery in May, down 12 cents to 85.76 dollars a barrel.

Brent North Sea crude for May shed 32 cents to 85.27 dollars per barrel.

Gold ended in Hong Kong at 1,144.00-1,145.00 US dollars an ounce, up from Wednesday’s close of 1,135.50-1,136.50 dollars.

In other markets:

— Singapore closed 0.83 percent, or 24.91 points, down at 2,963.19.

DBS Group Holdings tumbled 0.41 percent to 14.66 Singapore dollars, ST Engineering lost 1.80 percent to 3.28 and Singapore Airlines was off 1.02 percent to 15.46 Singapore dollars.

— Seoul rose 0.42 percent, or 7.18 points, to close at 1,733.78.

— Taipei closed down 0.79 percent or 64.18 points at 8,057,60.

Taiwan Semiconductor Manufacturing Co fell 1.89 percent to 62.3 Taiwan dollars and United Microelectronics Corp was 0.88 percent lower at 17.05.

— Jakarta fell 1.65 percent, or 47.75 points, to 2,850.83.

— Kuala Lumpur shed 0.90 percent, or 12.16 points, to close at 1,332.93.

Construction giant Gamuda slipped 4.30 percent to 2.86 ringgit while insurers Affin rose 1.60 percent to 3.25 ringgit.

— Manila closed 0.44 percent, or 14.25 points, lower at 3,256.12.

Philippine Long Distance Telephone Co. shed 0.4 percent to 2,490 pesos.

— Wellington fell 0.52 percent, or 17.31 points, to 3,307.77.

Contact Energy shed 1.1 percent at 6.43 New Zealand dollars and Fletcher Building lost 1.5 percent to 8.37.

Telecom fell 0.9 percent to 2.22.

Source: SGGP

Market slumps due to profit-taking

In Uncategorized on March 24, 2010 at 6:22 am

Vietnam’s benchmark VN-Index, a measure of 212 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, fell sharply on March 16 due to investors’ heavy selling to take profits.

The index finished at 516.08 points, losing 2.96 percent, or 15.78 points. Around 67.29 million shares traded at VND2.9 trillion.

Among the index members, 20 advanced, 187 dropped, and 9 remained unchanged.

Seafood producer Basa Joint Stock Company (BAS) and the Khanh Hoi Import Export Joint Stock Company (KHA) led the losers. Both gave up the maximum daily allowed limit of 5 percent to VND13,300 and VND24,700.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) fell 4.99 percent to VND40,000.

Khanh Hoa Power Joint Stock Company (KHP), which added up 4.96 percent to VND14,800, led the list of gainers. Next were Binh Phuoc-based Can Don Hydro Power Joint Stock Company (SJD), and the city-based South Logistics Joint Stock Company (STG), which gained 4.93 percent and 4.86 percent to VND21,300 and VND36,700 respectively.

Saigon Commercial Bank or Sacombank (STB), which continued to give up 2.94 percent to VND23,100, remained the most active stock in volume with more than 3.3 million shares changing hands.

Saigon Security Inc. (SSI) came next with around 3.2 million shares traded at VND89,000, followed by Vietnam Export Import Commercial Joint Stock Bank (EIB) with 2.1 million shares. The shares of Vietnam’s largest brokerage lost 2.2 percent today. EIB remained the only banking share that didn’t tumble.

The smaller bourse in the north continued to stay in the red as Hanoi’s HNX-Index slid 2.68 percent, or 4.65 points, to close at 168.67.

Around 40.2 million shares changed hands, worth VND1.35 trillion.

The UPCoM-Index rose 0.8 points, to 43.76. A total of 69,625 shares was traded at VND881 million.

Source: SGGP Bookmark & Share

Stock market moves ahead despite profit-taking

In Vietnam Stock Market on September 9, 2009 at 2:52 am

The Ho Chi Minh Stock Exchange continued its upward momentum on Tuesday in spite of heavy selling to take profits from the previous days of rising.

The VN-Index, the gauge of 170 leading stocks on the exchange, inched up 0.91 points, 0.17 percent, to close at 547.69, the highest total in the last year.

The market’s liquidity continued to increase, with around 72 million shares being traded for more than VND2.9 trillion. Of the index’s members, 62 stocks rose against 92 falling.

The US’s overnight fall in Wall Street triggered a wave of selling in the first session starting on 8:30am, as investors were concerned stocks had rocketed too high, too fast.
On Wall Street Monday, stocks fell in light trading. The Dow fell 47.92 points, 0.5 percent, to 9,496.38. The S&P 500 index fell 8.31, 0.8 percent, to 1,020.62, while the Nasdaq fell 19.71, one percent, to 2,009.06.

But later rallies on Asian markets restored clam sentiment, helping the VN-Index to rebound.

The Shanghai Composite Index was up 12.09 points, 0.5 percent, to 2,679.84, following a 6.7 percent plunge Monday that took it to its lowest level in three months.

Hong Kong’s Hang Seng climbed 119.83 points, 0.6 percent, to 19,844.02, while Tokyo’s Nikkei 225 stock average was also 0.5 percent higher, gaining 48.08 points to 10,540.

Elsewhere around the Pacific Rim, shares were higher in Taiwan, Singapore, South Korea, Malaysia and Australia but declined in Indonesia, the Philippines and New Zealand.

On the Ho Chi Minh City bourse, financial stocks including Saigon Securities Incorporation (SSI) and Saigon Thuong Tin Commercial Joint-Stock Bank (STB) led the rally after retreating in the opening period.

The HCMC-based bank was the most active stock by volume, followed by the brokerage, with 7.4 million and 3.5 million shares exchanging hand respectively.

FPT Corporation (FPT), the Hanoi-based software developer, was among today’s losers, closing lower 1.69 percent at VND87,500. Truong Dinh Anh, a board member, registered to sell more than 1.3 million shares to reduce his holdings to 617,805 before December 31, according to a statement on the exchange’s website.

Dairy maker Vinamilk (VNM) also dropped 1.27 percent to close at VND156,000. The company said on the exchange’s website that Nguyen Thi Nhu Hang, deputy general director, sold 30,000 out of her holdings of 76,790 shares early this month.

At the smaller bourse in Hanoi, the HNX-Index also closed on a slightly brighter note, gaining 0.02 percent to finish at 172.2.

Source: SGGP

Market splutters after day of profit-taking

In Uncategorized on November 11, 2008 at 10:46 am

Investors pass by an electronic trading board at Habubank Securities yesterday as the VN-Index slipped 3.57 per cent to close at 365.97. — VNS Photo Viet Thanh

HA NOI — Breaking a long streak of rising sessions and following Thursday’s day of profit-taking by investors, the advance of the VN-Index stalled yesterday, with the Index dropping 13.54 points or 3.57 per cent, to close at 365.97.

Analysts were attributing the downturn to volatility this week on global markets.

With world markets continuing to show a decidedly mixed reaction to Barack Obama’s victory in the US, and EU countries still trying to curb the credit turmoil by lowering interest rates, fears of a protracted economic crisis is burdening stock exchanges regionally and worldwide.

“The fall today is understandable as world stock markets are in fluctuation, and ours is sensitive to what is happening on world markets,” said Vu Hoai Chang, an analyst with SME Securities Co. Chang also pointed to the inevitable drop following Thursday’s sell-off by investors seeking to capitalise on the HCM City Stock Exchange’s recent run.

As a consequence, trading slowed on the HCM City market yesterday, with a volume at roughly half of Thursday’s level. About 16.88 million shares were traded, for a value of VND542.04 billion ($32.26 million).

Sacombank (STB) once again led trading, with a volume of 2.44 million shares, but this seemed miniscule in comparison to the 7.2 million STB shares that changed hands on Thursday.

Saigon Securities Inc (SSI), with 1.90 million shares, Hoa Phat Group (HPG) with 1.12 million, and FPT, with 1.10 million shares, were other market leaders on a slow day.

Foreign investors’ renewed interest in the market was one of yesterday’s only bright spots, with foreign buyers picking up 2.07 million shares while selling off fewer than a million.

“When the daily trading band for the dong was widened to 3 per cent, plus or minus, the possibility of foreign capital being withdraw from the local market was lessened,” said Chang.

With weather forecasters in Ha Noi predicting more heavy rains yesterday, investors abandoned the capital city bourse yesterday, seemingly more interested in stocking up their pantries on instant noodles and drinking water than on stuffing their portfolios.

The HASTC-Index dropped a sizeable 4.72 per cent to end the week yesterday at 116.36, with 136 codes declining.

Trading volume dropped from 20.28 million shares on Thursday to a mere 12.35 million yesterday, for a turnover of VND334.07 billion ($19.89 million). —