Shares down due to cautious trading
Shares down due to cautious trading
Shares edged downwards on the two exchanges this morning, led by large-cap stocks as traders were cautious about the market outlook.
The VN-Index on the HCM Stock Exchange was down 0.4 per cent at 671.7 points.
On the Ha Noi Stock Exchange, the HNX-Index fell 0.2 per cent to 80.8 points.
The market condition was negative, with 219 stocks declining, 140 advancing and 333 closing flat.
Blue chips tumbled as only four of the top 30 largest shares by market capitalisation on the HCM City’s exchange gained value while 17 lost.
Energy and rubber shares, which had climbed in the previous sessions based on the price soaring in global markets, also turned heads when they dipped this morning.
Oil prices fell in yesterday’s afternoon trade session in the international markets due to concerns of oversupply and the strong growth of the US dollar.
Shares of PetroVietnam Drilling and Wells Service (PVD) were down 0.9 per cent. Hoang Anh Gia Lai Group (HAG) and its agribusiness arm Hoang Anh Gia Lai Agricultural (HNG) dropped 1.4 per cent and 2.6 per cent, respectively.
Low-priced stocks continued to attract investments, as eight of the top 10 most heavily-traded stocks on the two exchanges had prices of below VND10,000 (US$0.45) per share. Construction and real estate companies saw the most sales, such as FLC Group (FLC), Tan Tao Investment and Industry (ITA), Sacomreal (SCR) and Vinaconex (VCG).
Over 79 million shares worth nearly VND1.3 trillion ($58.2 million) were traded in the two markets.
The afternoon trade session starts at 1pm.
