Shares decline across electronic boards on the two stock exchanges, dragging down both stock indices. — Photo fintext.stocksfirm.com

Shares sank into the red in both local stock exchanges on Friday morning, on rising investor caution about a steeper decline.

The benchmark VN Index on the HCM Stock Exchange slipped 0.23 per cent to 766.64 points.

On the Ha Noi Stock Exchange, the HNX Index went down 0.22 per cent to 98.44 points.

The overall market breadth was negative, with 238 stocks falling, 204 rising and 264 remaining flat on the two exchanges.

Blue chips maintained their downward spiral, with 20 of the top 30 largest shares by market value and liquidity losing value; only five advanced.

Large-cap stocks that weighed the market down the most include Vinamilk (VNM) and PV Gas (GAS), down 0.3 per cent each; Vietcombank (VCB), BIDV (BID) and Military Bank (MBB), down between 0.5 and 1.2 per cent; and VinGroup (VIC), down 1.3 per cent.

On the positive side, brewery Sabeco (SAB), Petrolimex (PLX), Saigon Securities Inc (SSI), Kinh Bac City Development (KBC) and Refrigeration Electrical Engineering (REE) cushioned the market fall.

A total of 125 million shares worth a combined VND2.2 trillion (US$97 million) were traded in the two markets.

The afternoon trade starts at 1pm. – VNS