Poor investor sentiment drags down stocks
Poor investor sentiment drags down stocks
Vietnamese shares fell further on Thursday morning as investors remained quiet amidst an unpredictable market condition with little supportive information.
The benchmark VN Index on HCM Stock Exchange fell by 0.85 per cent to close at 960.55 points, extending its decline from the previous two-day fall of 2.2 per cent.
The HNX Index on Ha Noi Stock Exchange lost 1.54 per cent to end at 107.98 points. It had decreased by 2.1 per cent in the previous two days.
Some 107.3 million shares, worth VND2.3 trillion (US$103.5 million), were traded on the two local exchanges.
The number of declining stocks almost tripled that of gainers by 267 to 86, indicating a temporary negativity of the market condition.
Bank stocks continued to weigh on market trading as large-cap stocks, such as Techcombank, Vietcombank, Vietinbank and VPBank, saw share prices go down.
Almost all the 10 largest stocks declined, except for PetroVietnam Gas and other energy stocks that benefited from the uptrend of global crude oil.
Selling pressure spread to mid-cap and small-cap stocks, sending the 10 most active stocks on the market down. These included FLC Group, MBBank and Hoang Anh Gia Lai.
The afternoon trading session starts at 1pm.
