VN-Index retreats on financials
VN-Index retreats on financials
The VN-Index retreated 0.2 per cent to 716 points on Tuesday morning as large-cap stocks lost ground, especially property and financial stocks.
On the HCM Stock Exchange, 20 of the top 30 shares by market value and liquidity slumped, including large firms such as Vietcombank (VCB), BIDV (BID), Military Bank (MBB) and private equity firm Masan Group (MSN), as well as Sacombank (STB), property developer VinGroup (VIC) and Kinh Bac City Development (KBC).
On the bright side, Vietjet, the country's largest budget carrier, debuted 300 million shares on the southern exchange this morning. The share price hit the daily limit rise of 20 per cent on the first day of trading at VND108,000 (US$4.74) per share, valuing the business at $1.42 billion.
Liquidity decreased slightly compared with the previous sessions, reaching 111 million shares worth VND1.7 trillion ($74.6 million) on the southern market.
On the Ha Noi Stock Exchange, the HNX-Index edged up 0.3 per cent to 87.1 points with nearly 38 million shares worth VND286.4 billion traded.
Other new entrants included Sai Gon-Quang Ngai Beer (BSQ) and EVN International (EIC), which also made their debut on the Unlisted Public Company Market (UPCoM) this morning.
Prices of both companies climbed 40 per cent, the maximum rise for the first trading day on the UPCoM, at VND31,600 per share for BSQ and VND14,700 per share for EIC.
The afternoon session starts at 1pm.
