Mixed response in markets, Sabeco hits daily limit
Mixed response in markets, Sabeco hits daily limit
Markets showed a mixed response on Wednesday morning, while the country’s largest brewer Sabeco hit the daily price limit for the second time after its debut on Tuesday.
The benchmark VN-Index on the HCM Stock Exchange gained 0.3 per cent to end at 653.11 points. However, the HNX-Index on the Ha Noi Stock Exchange dropped 0.3 per cent to stand at 79.13 points.
The stock market was driven up by three large-cap stocks, Faros Construction Corp (ROS), Vietcombank (VCB) and Sabeco (Saigon Beer-Alcohol-Beverage Corporation). ROS rose 2.8 per cent, VCB inched up 0.3 per cent and Sabeco surged by 7 per cent, hitting the daily price limit for the second day after its trading debut on Tuesday.
Unlike Sabeco, other brewer stocks such as Saigon Beer Western (WSB), Sai Gon-Phu Tho Beer (BSP) and Sai Gon-Mien Trung Beer (SMB) continued to dip on the Unlisted Public Company Market (UPCoM).
Other blue chips on the VN30 Index, which tracks the performances of the 30 largest stocks by market capitalisation, also made gains. Gainers include insurer Bao Viet Holdings (BVH), HCM City Infrastructure Investment (CII), property developer FLC Group (FLC) and steelmaker Hoa Sen Group (HSG).
At the other end, dairy firm Vinamilk (VNM), the largest stock by market capitalisation, extended its losing streak by falling 0.8 per cent. The energy sector also closed in negative territory after oil prices closed low on Tuesday.
Around 106.6 million shares were traded on Wednesday morning on the two local bourses, worth VND1.62 trillion (US$72.3 million).
