Property shares drag markets down

Monday, Oct 29, 2018 12:06

Shares of Vinhomes lost 4.6 per cent in Monday's morning trade. Slump of property shares dragged the market down. — Photo

Shares sank into the red when the stock market opened on Monday morning on the two national stock exchanges.

The VN-Index on the Ho Chi Minh Stock Exchange decreased 0.85 per cent to end at 893.20 points.

On the Ha Noi Stock Exchange, the HNX-Index slipped 0.03 per cent to 101.76 points.

Overall, the number of losing stocks outnumbered gainers by 231-134, while 383 remained unchanged.

Most heavyweight stocks slumped, dragging on the market.

Real estate developers were among the biggest losers this morning.

Big firms such as Vinhomes, FLC Faros Construction, HCM City Infrastructure Investment and Novaland Investment lost between 1-4.6 per cent.

Many of the top 10 biggest stocks including Vinamilk, PV Gas, Vietcombank, Vietinbank and Masan Group also delined.

Liquidity was dry with just over 85 million shares worth a combined VND1.7 trillion (US$72 million) traded on the two bourses.

The afternoon session starts at 1pm. – VNS

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