Shares edge down on negative prospect
Shares edge down on negative prospect
Shares edged down in morning trade on the two exchanges as investors were prudent on market outlook on the back of untamed selling by foreign traders.
The benchmark VN-Index on the HCM Stock Exchange was down 0.7 per cent at 660.4 points. It slipped 1.6 per cent last week.
On the Ha Noi Stock Exchange, the HNX-Index decreased 0.9 per cent to reach 80.5 points. The gauge decreased 0.2 per cent in the previous week.
Large-cap stocks continued to lead the downturn with 19 of the top 30 largest shares by market capitalisation on the main bourse in HCM City losing value and only 10 gaining
Losers included the highest-valued stocks, such as Vinamilk (VMN), Vietcombank (VCB), BIDV (BID) and Bao Viet Holdings (BVH), as well as VinGroup (VIC) and HCM City Infrastructure Investment (CII).
The db x-trackers FTSE Vietnam ETF late last week announced it was adding CII to its FTSE Vietnam Index in the last quarter of this year and removing four stocks -- Sacombank (STB), Hoang Anh Gia Lai Agricultura (HNG), auto dealer Hoang Huy Investment Services (HHS) and PetroVietNam Low Pressure Gas Distribution (PGD).
All four stocks tumbled this morning.
Liquidity increased with 150 million shares worth a combined VND2.3 trillion (US$100.6 million) traded on the two markets, up 48.5 per cent in volume and 35.3 per cent in value compared with Friday morning’s trade.
The afternoon session starts at 1pm.
