Shares tumble after a short recovery on Tuesday
Just five of the top VN30 shares gained value on Wednesday morning, pushing the VN-Index down 0.4 per cent to 1,004.33 points, its second falling session this week after a short recovery on Tuesday.
Twenty-three of the top 30 largest shares by market value and liquidity (VN30) on the Ho Chi Minh Stock Exchange tumbled on the morning trade, of which PV Gas, Hoa Phat Group, Sabeco, Vietnam Prosperity Bank, Sacombank and FLC Faros Construction dropped by more than 1 per cent.
The five gainers – Vietjet, Masan Group, Eximbank, Novaland Investment and Refrigeration Electrical Engineering – inched up just 0.1-0.6 per cent each.
A recovery on Tuesday was not enough to shore up investor sentiment as many were still cautious and awaiting more solid signals for a rising trend.
More than 114 million shares worth VND3.1 trillion (US$133.2 million) were traded on the southern bourse.
On the Ha Noi Stock Exchange, the HNX-Index also decreased 0.3 per cent to close the morning trade at 105.17 points. Only seven million shares worth VND112 billion ($4.8 million) were traded here.
Foreign investors were net sellers on both exchanges, selling net value of VND25 billion.
The afternoon trade starts at 1pm.