Blue chips continued to diverge

Tuesday, Dec 10, 2019 12:56

MML shares plunged 12 per cent on Tuesday morning to VND64,000 a share. Photo

The VN-Index on the Ho Chi Minh Stock Exchange decreased 0.34 per cent to end the morning trade at 962.75 points.

On the Ha Noi Stock Exchange, the HNX-Index edged down 0.39 per cent to 101.97 points.

A total of 148 million shares worth nearly VND2.1 trillion (US$90.5 million) were traded in the two markets.

Blue chips continued to diverge. 16 of the top 30 largest shares by market value and liquidity sank while nine increased. Other five closed flat.

Masan Group (MSN) was the biggest loser with its price going down 5.6 per cent to VND57,100 ($2.46) per share.

On Monday, its subsidiary Masan MEATLife (MML) debuted 324.3 million shares on the Unlisted Public Company Market (UPCoM) at a reference price of VNĐ80,000 per share, valuing the company at VND26 trillion ($1.12 billion). Despite high expectation, MML shares plunged 12 per cent this morning to VND64,000 a share.

On the bright side, gains of some major large caps such as Vinamilk (VNM), Vietcombank (VCB), Hoa Phat Group (HPG) and Vincom Retail (VRE) supported the market but their growth was modest of between 0.3 per cent and 1 per cent.

The afternoon trading starts at 1pm. — VNS

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