Shares slump on high selling pressure
Shares slump on high selling pressure
Shares declined amid rising selling pressure on the two national stock exchanges on Friday morning.
The VN-Index on the Ho Chi Minh Stock Exchange lost 2.2 per cent to close the morning trade at 837.88 points.
On the Ha Noi Stock Exchange, the HNX-Index also decreased 2.14 per cent to end at 111.44 points.
In the two markets, the market breadth was pessimistic with the number of declining stocks overwhelming the gaining ones by 436-56. Another 323 closed unchanged.
Blue chips performed negatively when all shares of the VN30 basket, which tracks the top 30 largest shares by market value and liquidity on the Ho Chi Minh Stock Exchange, lost value of between 1 per cent and 5.8 per cent.
Major draggers included Vingroup (VIC), Vinhomes (VHM), Vietcombank (VCB), Masan Group (MSN), Vietinbank (CTG) and Saigon Securities Inc (SSI), with all slipping by more than 2 per cent.
A total of 221.4 million shares worth VND3.4 trillion (US$139 million) were traded on the two bourses.
The foreign sector was net sellers in the morning for a value of VND44 billion, focusing on Vinamilk (VNM) and property developer Dat Xanh Group (DXG).
The afternoon trade starts at 1pm.
