Shares remain flat; ROS, banks, energy firms decline
Shares remain flat; ROS, banks, energy firms decline
Shares ended flat in both local markets on Thursday morning, as trading was bumpy with investors trying to take profits from recent gains.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange closed at 760.87 points and 97.87 points, respectively.
The VN Index had made a three-day rally of 1.5 per cent to close Wednesday at 760.77 points. The HNX Index had increased by a total 1.1 per cent in two days to end at 97.89 points.
Around 138.7 million shares were traded on both bourses, worth VND2.66 trillion (US$118.4 million).
Early morning, the US central bank decided to raise its lending rates for the second time in three months, by 0.25 percentage point to a range of 1-1.25 per cent; it may hike rates once more this year.
The news, however, did not have a strong effect on investor confidence as investors have factored in the chance of a hike this month in the price of local shares.
It was the fall of large-cap stocks, especially FLC Faros Construction (ROS) and banks after their recent good performance, and the sharp drop in oil prices on Wednesday that kept both indices bumpy and made them close flat.
ROS suffered a limit trading loss of 7 per cent; six of the nine listed banks fell between 0.4 per cent and 1.4 per cent; and shares of energy firms slid between 1 per cent and 1.4 per cent.
The afternoon session starts at 1pm.
