Shares mixed as large caps under heavy selling pressure
Shares were mixed on the two national stock exchanges on Wednesday morning as large-cap stocks were under heavy selling pressure.
On the Ho Chi Minh Stock Exchange, the VN-Index lost 0.41 per cent to end the morning trade at 1,014.17 points.
Blue chips were the major drag here as 21 of the top 30 largest shares by market value and liquidity lost value and only six advanced. Another three closed unchanged.
Major losers included Vinamilk (VNM), Vinhomes (VHM), brewer Sabeco (SAB), Mobile World Investment (MWG) and property developer Novaland Investment (NVL), which fell more than 1 per cent each.
Banking shares remained the money magnet as four of six advancers were banks, including BIDV (BID), Vietinbank (CTG), Sacombank (STB) and Eximbank (EIB) with growth of between 0.5 per cent and 1.9 per cent.
On the Ha Noi Stock Exchange, the HNX-Index increased 0.62 per cent to 107.63 points.
Banks were also supporters in the northern bourse with Asia Commercial Bank (ACB) and Sai Gon-Ha Noi Bank (SHB) rising 1.6 per cent and 1.4 per cent, respectively.
A total of 158 million shares worth VND4.75 trillion (US$204 million) was traded in the two markets.
Trades by foreign investors were mixed, too. They were net sellers for more than VND300 billion in HCM City’s market but were net buyers of VND31 billion on the Ha Noi exchange.
The afternoon trade starts at 1pm.