Shares lose early gains on blue chips
Shares lose early gains on blue chips
The benchmark VN-Index on the HCM Stock Exchange lost early gains in the morning trade with investors offloading large-cap stocks.
The VN-Index, a measure of 311 stocks, inched down 0.1 per cent to 656.2 points by the end of morning trade, earlier crossing over 660 points when the market opened. It decreased 0.5 per cent yesterday.
On the Ha Noi Stock Exchange, the HNX-Index was down 0.6 per cent to end at 82.9 points. It also lost 0.6 per cent yesterday.
Several of the top 10 highest-valued stocks continued their downward spiral this morning, which put heavy pressure on the market.
Private equity Masan Group (MSN) slipped 2.5 per cent, while dairy firm Vinamilk (VNM), the largest listed stock, was down 0.7 per cent. Other heavyweight shares, including insurer Bao Viet Holdings (BVH), lender BIDV and PV Gas (GAS), decreased by less than 1 per cent.
The money is being focused into low-valued shares, such as real estate developer FLC Group (FLC), auto dealer Hoang Huy Investment Services (HHS), furniture maker Duc Long Gia Lai Co (DLG), Saigon-Ha Noi Bank (SHB) and Sacomreal (SCR), whose prices are below VND10,000 per share.
These stocks were the most active stocks on the two exchanges this morning.
A total of over 72 million shares worth VND1.1 trillion (US$49.3) were traded in the two markets.
Afternoon trade starts at 1pm.
