Profit-taking pulls VN Index down
Profit-taking pulls VN Index down
Vietnamese shares were mixed on Friday morning as large-cap stocks continued to suffer from an increase in investors’ profit-taking.
The benchmark VN Index on the HCM Stock Exchange dropped 0.29 per cent to close the morning session at 1,033.71 points.
Meanwhile, the HNX Index on the Ha Noi Stock Exchange was up by 0.26 per cent at 119.30 points.
Nearly 103.5 million shares, worth VND2.7 trillion (US$117 million), were traded in the two markets during the morning trading session.
The VN30 Index, which tracks the southern bourse’s largest stocks by capitalisation and liquidity, fell 0.36 per cent to end at 1,023.03 points.
Fourteen sectors out of 20 industries on the stock market declined while only five gained, according to data on vietstock.vn.
Many large-caps slumped, dragging the market down. These included Vincom Retail, FLC Faros Construction Joint Stock Company, and brewery Sabeco, as well as property developer Novaland, KIDO Group, and PetroVietnam Gas JSC.
On the positive side, banking and securities stocks such as Asia Commercial Bank, Vietinbank, Saigon Hanoi Commercial Joint Stock Bank, and Vietcombank performed well. Other gainers in the sector included Techcombank, VP Bank, Sai Gon Securities Incorporation, and VNDirect Securities Corporation.
The afternoon session starts at 1pm.
