Shares edge down on slump of food-beverage and retail firms
Shares edge down on slump of food-beverage and retail firms
Shares edged down on Wednesday morning, driven by a slump of food-beverage and retail firms.
The VN Index on the Ho Chi Minh Stock Exchange inched down 0.14 per cent at 974.53 points. The losing stocks outnumbered the gaining ones by 175-97, while the other 97 closed unchanged.
Food and beverage shares weighed on the market when big companies such as Vinamilk (VNM), brewer Sabeco (SAB), sugar producer Thanh Thanh Cong Tay Ninh Co (SBT) all lost value of between 0.5 per cent and 2.4 per cent.
Big retailers such as Mobile World Group (MWG) and Vincom Retail (VRE) also declined by over 1 per cent.
The market was cushioned by the growth of budget airline Vietjet (VJC), up 4.1 per cent, and financial stocks such as lenders BIDV (BID), Vietinbank (CTG) and Vietcombank (VCB), each up 0.3-0.6 per cent.
Liquidity was low on the southern exchange, with 81 million shares worth VND1.86 trillion (US$80 million) being exchanged.
On the Ha Noi Stock Exchange, the HNX-Index fell by 0.38 per cent to end the morning trade at 110.80 points.
More than 22 million shares worth VND327 billion were traded here.
According to analysts, the heavy slump on Asian markets had a negative impact on local investors’ psychology.
Afternoon trading starts at 1pm.
