VCSC Daily - Profit-taking on lower gasoline prices

Market Commentary

10 May 2012

Market initially jumps on lower gasoline prices – The MoF has lowered gasoline prices after trading hours on 9 May 2012. The markets gapped up on the news with the VNI quickly hitting an intraday of 490.5 while the HNI hit 85. However, as rumours of the gasoline price cut had already circulated a few days ago, bears quickly used this opportunity to take short-term profits sending both indices into negative territory.

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