Growth slows on mixed performance of large-cap stocks
Growth slows on mixed performance of large-cap stocks
Shares edged up on Tuesday morning, but the mixed performance of large-cap stocks restrained market growth.
The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to 731.1 points.
On the smaller Ha Noi Stock Exchange, the HNX Index rose 0.6 per cent to end at 90.9 points.
A total of 157 million shares worth a combined VND2.5 trillion (US$110 million) were traded in the two markets.
Financial companies lost value in the morning, with the big losers being BIDV (BID), Vietinbank (CTG), Masan Group (MSN), Saigon Securities Inc (SSI) and Sacombank (STB).
At the other end of the spectrum, several large-cap stocks such as Vinamilk (VNM), Kido Group (KDC), PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), Hau Giang Pharmaceutical (DHG), FPT Corp and Hoa Sen Goup (HSG) buoyed up the market.
The shares of budget airline Vietjet (VJC) advanced 0.8 per cent to VND131,800 a share, following the company’s proposal to hike its foreign ownership limit to 49 per cent, and pay a 31.6 per cent cash dividend for 2016’s earnings and an estimated 30 per cent dividend for 2017. The carrier will seek its stockholders’ approval at the annual shareholders’ meeting, which is scheduled on April 20.
The afternoon session starts at 1pm.
