Market snaps 6-day winning streak on profit-taking force

Also weighed on the market, foreign investors net sold a large amount on both main exchanges.

Benchmark indices opened the new week on a negative note as some investors took profits after a long rally streak of six days set last week.

On the HCMC Stock Exchange (HoSE), the VN-Index dipped 13.31 points, or 1.15 percent, to 1,141.42 points. The reversal ended its six-day winning streak.

The VN-Index had gained 2.32 percent last week.

The market's breadth fell into negative territory, with 251 stocks declining while 84 ticker symbols ticked higher.

Liquidity, however, rose over the previous session. In particular, the trading value on the southern bourse increased by 5.6 percent to more than VND15.2 trillion (US$622.4 million). This was equal to a trading volume of nearly 676.2 million shares.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also inched lower on Monday. It closed at 1,153.21 points, a decrease of 13.45 points, or 1.15 percent. In the VN30 basket, 23 stocks tumbled, while six advanced and one stayed flat.

Similarly, the northern benchmark HNX-Index snapped its rally streak today. It was down 2.59 points, or 1.08 percent, to 236.46 points.

During the session, more than 97.7 million shares were traded on HNX, worth nearly VND2.3 trillion.

Leading the downtrend were the real estate, manufacturing, and banking stocks, with Vinhomes (VHM) being the biggest loser. Shares of the property developer reported a fall of 2.88 percent.

It was followed by Hoa Phat Group (HPG) down 2.91 percent, BIDV (BID) slumping by 2 percent, and Vingroup (VIC) falling by 2.4 percent.

Stocks in the securities sector also witnessed significant losses, with SSI Securities Corporation (SSI) down 4.32 percent, VNDirect Securities Corporation (VND) dipping 4.77 percent, Saigon - Hanoi Securities JSC (SHS) plunging 2.75 percent, and HCMC Securities Corporation (HCM) down nearly 4 percent.

In contrast, oil and gas stocks still performed well as oil prices in the international market steadied above $90 a barrel due to the Israel-Hamas war. In particular, PV Gas (GAS) jumped 1.3 percent, PetroVietnam Technical Services Corporation (PVS) rose more than 2 percent, and PetroVietnam Chemical and Services (PVC) climbed 2.72 percent.

Also weighing on the market, foreign investors net sold a large amount on both main exchanges. Of which, they net sold nearly VND827.3 billion on HoSE and VND39.46 billion on HNX.

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