VN-Index struggles around 1,400 point-level
The market's benchmark indices gained slightly on Wednesday morning, but selling pressure remained.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.85 points, or 0.06 per cent, to 1,395.65 points. The market's breadth continued to be negative with 201 stocks declining while 172 increased.
The liquidity was also lower than yesterday, with a trading value of nearly VND10.6 trillion (US$465.8 million). Meanwhile, foreign investors net sold on the southern market, with a value of more than VND153 billion.
The index's gain was mainly driven by large-cap stocks. The VN30-Index, tracking 30 biggest stocks in HoSE, climbed 2.24 points, or 0.15 per cent, to 1,511.81 points. Of the VN30 basket, 15 stocks slid, while 13 jumped and two stayed flat.
Vingroup (VIC) led the market's trend this morning, up 0.97 per cent. It was followed by Becamex (BCM), FPT Corporation (FPT) and Vietcombank (VCB).
However the market was still weighed by profit-taking activities. Accordingly, PetroVietnam Gas (PVGas, Gas) posted the biggest loss, down 1.07 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also inched higher in the morning trade, up 3.04 points, or 0.81 per cent, to 378.72 points.