Large cap slumps weigh on markets
Large cap slumps weigh on markets
Vietnamese shares tumbled on the two national exchanges on Tuesday’s morning as major large caps lost value.
The VN-Index on the Ho Chi Minh Stock Exchange declined 1.41 per cent to 940.07 points by the end of the morning trade.
On the Ha Noi Stock Exchange, the HNX-Index also decreased 1.41 per cent to end at 106.03 points.
Large caps led the market downturn when up to 28 of the 30 largest shares by market value and liquidity on the main bourse in HCM City slumped.
Banks were among the biggest losers. Large banks such as Vietinbank and Vietcombank dropped 2.3 per cent and 1.4 per cent, respectively. Medium-d banks including VPBank, Techcombank, Military Bank and Sacombank fell between 1-4.5 per cent each.
Other leading companies in their sectors such as PV Gas, Petrolimex, Mobile World Group, Vinamilk and Saigon Securities Inc also lost value of over 2 per cent each.
Liquidity was modest with just 114.3 million shares worth a combined VND2.2 trillion (US$96 million) traded on the two markets.
The afternoon trade starts at 1pm.
