Blue chips drag down bourses
Blue chips drag down bourses
Vietnamese shares traded lower on Monday morning as blue chips were mixed, and a sharp fall in trading liquidity showed investors’ caution against market conditions.
The benchmark VN Index on HCM Stock Exchange fell by 0.80 per cent to close at 1,008.34 points. It had inched up 0.08 per cent on Friday.
The HNX Index on Ha Noi Stock Exchange lost 0.82 per cent to close at 114.95 points. It had gained 0.86 per cent on Friday.
Liquidity remained low, with more than 100 million shares worth VND2 trillion (US$91 million) being traded on the two local exchanges.
Declining stocks dominated the two indices, with losers outnumbering gainers 256 to 141, indicating a negative market breadth.
Key sectors of the stock market, including banking-finance, property development, energy and food and beverages, continued to underperform.
Large-cap stocks were on the negative side as 16 of the 30 largest stocks by market capitalisation declined, pulling the VN30 Index down by 1.11 per cent to 993.85 points.
Among the declining stocks were Bank for Investment and Development of Viet Nam, Vietcombank, Saigon Securities Inc., budget carrier Vietjet, real estate firm Novaland and steel producer Hoa Phat.
The afternoon trading session starts at 1pm.
