Shares post steep fall on selling pressure

HÀ NỘI — Shares posted a steep fall on Wednesday as the market was still under selling pressure to take profit due to the previous low-priced purchases. During the session, some 814 million shares were traded on the southern bourse, worth over VNĐ12.7 trillion (US$534.7 million). Financial news site cafef.vn said many oil and gas stocks suffered from correcting pressure and fell deeply, including PetroVietnam Gas JSC (GAS), PV Power (POW), PetroVietnam Drilling & Well Services Corporation (PVD), PV OIL (OIL), Bình Sơn Refinery (BSR) and PetroVietnam Technical Services Corporation (PVS). If it successfully holds at this support zone, investors can continue to open short positions, focusing on sectors such as securities, steel, cement, textiles, construction, oil and gas. During the trading session, investors poured more than VNĐ1.8 trillion into the bourse, equivalent to a trading volume of more than 109 million shares.