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Shares retreat as large-caps vary

HÀ NỘI — Vietnamese shares failed to maintain their rally on Thursday.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0. 二 四 per cent to close at  九 五 八. 五 九 points.

Nearly  二 六 六 million shares were traded on the southern bourse, worth VNĐ 四. 九 trillion (US$ 二 一 一. 七 million).

The VN-Index gained 0. 二 一 per cent on Wednesday.

The large-cap VN 三0-Index was down 0. 一 三 per cent at  八 七 二.0 七 points with  一 八 of the  三0 largest stocks by market capitalisation and trading liquidity falling.

The VN-Index struggled as pillar stocks came under selling pressure, including Bank for Investment and Development (BID) (- 二. 二 per cent), Vietcombank (VCB) (-0. 六 per cent), PetroVietnam Gas JSC (GAS) (-0. 七 per cent), Bảo Việt Holdings (BVH) (- 一 per cent), Hòa Phát Group (HPG) (-0. 六 per cent), Military Bank (MBB) (-0. 七 per cent), Vingroup (VIC) (-0. 一 per cent) and Mobile World Group (MWG) (-0. 五 per cent).

Large-caps that did make gains included Vinhomes (VHM) (+0. 六 per cent), Masan Group (MSN) (+ 二. 三 per cent), Vincom Retail (VRE) (+ 一. 五 per cent), Sabeco (SAB) (+0. 四 per cent), Novaland (NVL) (+0. 七 per cent) and VPBank (VPB) (+ 一. 八 per cent), helping to support the market.

According to Bảo Việt Securities Co (BVSC), the VN-Index was forecast to oscillate between  九 六0. 七- 九 六 一. 五 points and  九 五 三- 九 五 三. 五 points over the next few sessions. With signs of a correction later Thursday, the index could possibly drop to the support zone of  九 五 三- 九 五 三. 五 points during the last session of the week.

The market will continue to experience a wild divergence among stock sectors. Stock exposure should be maintained at  三0- 四0 per cent of the portfolio, BVSC said.

Investors with high stock exposure should lower the proportion of short-term positions.

According to Sài Gòn-Hà Nội Securities Co (SHS), investors were trading more slowly ahead of the year-end holiday as they wanted to preserve their cash amid a lack of business news.

Foreign investors net bought VNĐ 六 六. 三 一 billion on the HOSE, including Masan Group (MSN) (VNĐ 四 三.0 二 billion), Hòa Phát Group (HPG) (VNĐ 一 八. 一 五 billion) and Vincom Retail (VRE) (VNĐ 一 一. 九 五 billion).

On the Hà Nội Stock Exchange, the HNX-Index fell 0. 五 九 per cent to end at  一0 二. 三 二 points.

The northern market index had gained a total of 0. 五 七 per cent in the previous two trading days.

Nearly  四 一 million shares were traded on the northern bourse, worth VNĐ 五 五 七. 四 billion. — VNS