Shares remain negative after holiday
Shares remain negative after holiday
Shares closed in negative territory on Friday morning after the national holiday on Thursday as investors were cautious about current market conditions.
The benchmark VN Index on the HCM Stock Exchange was almost unchanged, ending at 723.26 points. The southern market index closed on Wednesday at 723.22 points.
The HNX Index on the Ha Noi Stock Exchange fell 0.7 per cent to close at 90.04 points, declining further from a drop of 0.5 per cent on Wednesday.
Market trading liquidity was high with more than 148.2 million shares being traded worth VND3.48 trillion (US$154.7 million).
Investors continued to increase their selling in blue chips and other large-cap stocks, putting heavy pressure on the stock market.
Finance-banking stocks were the worst decliners. Six of the nine listed banks decreased between 0.3 per cent and 2.4 per cent each, including Vietcombank (VCB), Asia Commercial Bank (ACB) and Sacombank (STB).
Shares of Sacombank dropped 0.8 per cent on Wednesday after local media reported that property developer Novaland decided not to take part in the restructuring of the bank.
On the opposite side, energy stocks helped the market avoid declining further, with oil prices bouncing back strongly in recent days.
PetroVietnam Gas (GAS) gained two per cent, PetroVietnam Drilling and Well Services (PVD) increased by one per cent and PetroVietnam Technical Services (PVS) edged up 0.6 per cent.
