Shares traded lower on Friday morning as selling pressure continued to press on blue chips in the banking and real state sectors. — Photo tinnhanhchungkhoan.vn

Shares traded lower on Friday morning as selling pressure continued to press on blue chips, especially in the banking and real estate sectors.

The benchmark VN Index on the HCM Stock Exchange (HOSE) slipped down 0.92 per cent to close at 1,021.14 points, expanding its loss of 2.27 per cent on Thursday.

The HNX Index on the Ha Noi Stock Exchange decreased by 0.80 per cent to end at 120.53 points, reversing from its gain of 0.01 per cent in the previous session.

Some 360 million shares, worth VNĐ33 trillion (US$1.47 billion), were traded on the two local exchanges. The surge in market liquidity was attributed to the massive trading of Vinhomes stock (VHM).

VHM is overbought by more than 1.2 million shares, with a ceiling price of VND118,200 per share.

The market breadth was negative, with 261 declining stocks against 128 gaining stocks.

The VN30 Index, tracking the southern city’s 30 largest shares by capitalisation and liquidity, slid 0.92 per cent to 997.84 points. There were five gainers and 23 decliners in this basket.

Many large-caps were hit on the local stock markets on Friday morning. Among them were budget carrier Vietjet (VJC), FPT Corporation (FPT), property developer Vingroup (VIC) and insurer Bao Viet Holdings (BVH).

Banking and real estate were the two worst-hit sectors, with laggards including Vietcombank (VCB), Vietinbank (CTG), Military Bank (MBB), Dat Xanh Group JSC (DXG) and Novaland Investment Group Corporation (NVL).

The afternoon trading session starts at 1pm. — VNS