Stocks end slightly down signaling positive trading ahead
Stocks end slightly down signaling positive trading ahead
Shares remained negative on both local markets on Tuesday morning, but positive trading is expected ahead as investors tried to scoop up stocks that declined strongly on Monday.
The benchmark VN Index ended almost flat at 766.43 points. It finished on Monday at 766.56 points and totaled a two-day loss of two per cent.
The HNX Index on the Ha Noi Stock Exchange lost 0.16 per cent to close at 100.21 points. It dropped total 2.2 per cent in the previous two sessions.
Market trading remained negative with decliners outnumbering gainers by 231 to 166. More than 157.3 million shares were traded on both exchanges, worth VND2.13 trillion (US$95 million).
Shares of banks, securities firms, construction firms, building materials producers and healthcare service providers remained the worst decliners.
Among the losing stocks were DHG Pharmaceutical Co (DHG), Sacombank (STB), Vietcombank (VCB) and Sai Gon Securities Inc (SSI), as well as steelmaker Hoa Sen Group (HSG) and Binh Minh Plastic Co (BMP).
The decline of large-cap stocks pushed local indices down significantly on Monday morning, however, the market rebounded from its intraday bottom as some stocks were picked up on bargain hunting after they suffered during Monday's trading session.
Property and retail corporation Vingroup (VIC), dairy producer Vinamilk (VNM) and food producer Kido (KDC) were among the leading companies that lifted the market.
The afternoon session starts at 1pm.
