Shares fall on investor caution

Wednesday, Mar 01, 2017 13:07

Blue chips including lender BIDV (BID), Vietinbank, PV Gas and FPT Corp (FPT) pulled down the VN Index to 710.6 points on Wednesday morning. — Photo

Shares in both markets edged down on Wednesday morning on investor caution about renewed correction.

On the HCM Stock Exchange, the VN Index inched down 0.03 per cent to 710.6 points, while on the Ha Noi Stock Exchange, the HNX Index dropped by 0.7 per cent to 86.2 points.

Blue chips continued their defensive stance as many major stocks slumped, including lender BIDV (BID), Vietinbank (CTG), PV Gas (GAS), FPT Corp (FPT), Hoa Sen Group (HSG) and Hoa Phat Group (HPG).

Some companies such as Vinamilk (VNM), Vietcombank (VCB) and VinGroup (VIC), however, recovered and cushioned the market from a steeper fall.

Budget airline Vietjet hit the ceiling rise of 7 per cent for the second day after its debut on Tuesday, trading at VND115,500 (US$5.07) a share.

Around 148.4 million shares worth VND2.2 trillion ($96.5 million) were traded in the two markets.

The market may continue to be volatile under selling pressure after the VN Index failed to break its resistance level of 720 points in the previous sessions, some securities companies said.

The afternoon session starts at 1pm. – VNS

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