Shares traded below threshold, finance sector slumps

Thursday, Oct 03, 2019 12:46

A man runs across Bao Viet Holdings headquarters in Ha Noi. Shares of the company decreased 0.94 per cent on Thursday morning to VND74,100 (US$3.18) a share. — VNS Photo Mai Huong

Shares were traded below the threshold for the whole morning on Thursday.

The VN-Index on the Ho Chi Minh Stock Exchange edged down 0.46 per cent at 986.66 points.

On the Ha Noi Stock Exchange, the HNX-Index inched down 0.39 per cent at 104.86 points.

Both of indices fell on Wednesday.

Most of large-cap stocks slipped. Twenty of the top 30 largest shares by market value and liquidity on the HCM City’s bourse lost value and only nine gained. One closed unchanged.

Financial stocks including banks, securities and insurance companies were also under pressure after the previous rallies. Losers included Vietcombank, Vietinbank, Techcombank, VPBank, Military Bank, Bao Viet Holdings, BIDV Insurance Corp, Saigon Securities Inc and Ho Chi Minh Securities.

Overall, the market breadth was negative with 254 stocks declining, 132 increasing and 383 being unmoved.

A positive point was that selling pressure was not strong and existing demand at cheap price ranges to support the market. Losses of blue chips were modest which also restrained the market fall.

A total of nearly 100 million shares worth VND2.13 trillion (US$91.3 million) were traded in the two markets.

The afternoon trade starts at 1pm. – VNS

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