Large-caps decline, leading to slump
Large-caps decline, leading to slump
Many large-cap shares lost value on Thursday morning, driving both indices down on the two official stock exchanges.
On the Ho Chi Minh Stock Exchange, the VN-Index edged down 0.3 per cent to close morning trading at 974.2 points.
On the Ha Noi Stock Exchange, the HNX-Index fell 0.2 per cent to 106.94 points.
Both indices gained valued in the previous two days.
Eighteen of the top 30 largest shares by market value and liquidity on the Ho Chi Minh Stock Exchange slumped and 12 advanced.
Large firms including Vinamilk (VNM), Vingroup (VIC), Vincom Retail (VRE), brewer Sabeco (SAB), Vietinbank (CTG) and Vietcombank (VCB) were the main drag. Their losses, though modest of less than 1 per cent each, weighed on the market due to their heavyweight ratio
Despite positive movements on the global oil market, shares of domestic oil and gas companies were also losers. While PV Gas (GAS) inched down just 0.1 per cent, PetroVietnam Drilling Mud (PVC) and PetroVietnam Technical Services (PVS) decreased 2.8 per cent and 1.3 per cent.
On the other side, some blue chips gained and supported the market. They included Vietjet (VJC), Vinhomes (VHM), Mobile World Investment (MWG), Eximbank (EIB) and FPT Corp (FPT), but all increased by less than 1 per cent.
Overall, losers outnumbered the gainers by 225-140. Other 392 stocks remained unchanged.
Nearly 97 million shares worth more than VND1.6 trillion (US$69.2 million) were traded in the two markets.
Afternoon trading starts at 1pm.
