Shares moved in the opposite direction on the two exchanges this morning as traders shifted their attention to mid-cap and penny stocks.

The benchmark VN-Index on the HCM Stock Exchange opened higher but declined towards the end of morning trade, down 0.1 per cent at 672.2 points, as some large-cap stocks continued their downward trend.

It decreased 0.9 per cent on Monday.

On the Ha Noi Stock Exchange, the HNX-Index was up 0.2 per cent to close at 81.1 points. It was down 0.3 per cent in the previous session.

Large-cap stocks were mixed.

Several of the highest valued stocks, such as dairy giant Vinamilk (VNM), Vietcombank (VCB), Military Bank (MBB) and software producer FPT Corp (FPT), continued their decline.

On the other end of the spectrum, some stocks recovered and cushioned the market. Gainers included insurer Bao Viet Holdings (BVH), Masan Group (MSN), PV Gas (GAS) and Saigon Securities Inc (SSI).

Steel and coal shares were also significant gainers this morning thanks to a sharp rise in their prices in global markets.

Leading firms in these sectors, such as Hoa Phat Group (HPG), Tien Len Steel (TLH), Vinacomin-Nui Beo Coal (NBC), Vinacomin-Coc Sau Coal (TC6) and Vinacomin-Cao Son Coal (TCS), increased between 1.5 per cent and four per cent each.

A total of 82 million shares worth VND1.55 trillion (US$69.5 million) were traded on the two markets.

Afternoon trade starts at 1pm. — VNS