VN-Index corrects downwards

Friday, Sep 15, 2017 12:40

Viet Nam's benchmark VN Index fell 0.25 per cent to close Friday morning at 803.34 points, marking its first decline after a three-day rally. — Photo

Large-cap stocks slumped on Friday morning, pulling the VN-Index down 0.25 per cent at 804.34 points.

This is the first decline of the southern market in the last four days.

The market breadth was negative on the HCM Stock Exchange as the decliners outnumbered the advancers by 123-107, while 113 remained flat.

Blue chips led the downturn, with 18 of the top 30 largest shares by market value and liquidity decreasing and only 10 increasing.

Losers expanded from banks (Vietcombank, BIDV, Vietinbank and Military Bank) and energy (PV Gas, PetroVietnam Drilling and Wells Service) to retailers (FPT Corp and Mobile World Group) and food-beverages (Vinamilk and Sabeco).

Some shares bucked the trend and supported the market, including steelmakers Hoa Phat Group and Hoa Sen Group, VinGroup, FLC Faros Construction, DHG Pharmaceutical and insurer Bao Viet Holdings.

On the Ha Noi Stock Exchange, the HNX-Index was still up 0.14 per cent at 104.53 points.

Liquidity dropped substantially when only 106.2 million shares, worth a total of VND1.9 trillion (US$81.7 million), were traded in the two markets, down 23.6 per cent in volume and 29 per cent in value from Thursday’s morning session.

The afternoon trade session starts at 1 pm. — VNS

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