Stocks slip on weak investor sentiment
Stocks slip on weak investor sentiment
Shares extended losses on Friday morning owing to low investor confidence, as global markets slowed down for the year-end holidays.
The benchmark VN Index on the HCM Stock Exchange fell 0.6 per cent to close at 659.97 points. The southern market index has fallen 0.4 per cent on Thursday.
The HNX Index on the Ha Noi Stock Exchange dropped 0.8 per cent to end at 79.18 points. It had lost 0.6 per cent in the previous session.
Market trading liquidity was modest with around 87.6 million shares worth VND1.4 trillion (US$63 million) being traded.
The main reason for the decline was weak purchasing, as investors worried about the markets being pulled down by large-cap shares and had their minds on the holidays.
Twenty-two blue chips slipped on the VN30 Index, which tracks the performance of the 30 largest companies by market capitalisation. The biggest losers include insurer Bao Viet Holdings (BVH), VietinBank (CTG), PetroVietnam Gas Corp (GAS) and dairy producer Vinamilk (VNM).
On the opposite side, mid-cap and small-cap stocks remained attractive to investors. Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) was the most active stock, with around 4.74 million shares being traded.
