Shares fall after two-day rally
Shares fall after two-day rally
Shares declined this morning after rising for two days, dragged down by mounting investor uncertainty.
The benchmark VN-Index lost 0.23 per cent to close at 571.01 points on the HCM Stock Exchange, while on the Ha Noi bourse, the HNX-Index fell 0.65 per cent to end at 77.66 points.
The overall condition was pessimistic, as just 15 per cent of the total 677 stocks advanced, 29 per cent declined and the rest remained unchanged.
Banks and oil and gas companies, which had provided the market momentum in the latest rally, fell this morning.
Five of the total nine listed banks lost value, while the other four closed unchanged. Large oil and gas companies such as PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD) also slumped.
Securities shares were among the few gainers, including Saigon Securities Inc (SSI) and HCM Securities (HCM), two of the top 30 shares by market value and liquidity on the HCM City market. Their growth cushioned the market fall.
Liquidity remained low, while a total of 54 million shares worth VND817 billion (US$36.3 million) were traded on the two exchanges by the end of the morning.
According to analysts at BIDV Securities Co, most investors are skeptical about the market outlook, especially in this period when there is no support information in both the global and domestic markets.
The afternoon session will begin at 1pm.
