VN-Index falls due to blue chips

Thursday, Aug 18, 2016 12:38

The VN-Index retreated this morning, with blue chips dragging down the market. — Illustrative photo
HANOI (Biz Hub) — The benchmark VN-Index retreated to touch 658.7 points, down 0.3 per cent from Wednesday's close, after exceeding 665 points this morning. Blue chips dragged down the market.

More than half of the top 30 largest shares by market capitalisation on the HCM Stock Exchange lost value, led by financial and bank shares such as Vietinbank (CTG), Sacombank (STB), Military Bank (MBB) and BIDV (BID), besides Saigon Securities Inc (SSI) and HCM Securities Co (HCM).

On the other end of spectrum, steelmakers gained following positive data regarding steel exports.

Large steel manufacturing companies such as Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Nam Kim Steel (NKG) rose about one per cent.

Viet Nam's iron and steel exports hit US$51 million during the January-July period, an increase of 80 per cent over the same period last year, data of the General Department of Vietnam Customs showed.

On the smaller exchange in Ha Noi, the HNX-Index was down 0.4 per cent to touch 83.4 points.

A total of 102 million shares, worth a combined VND2 trillion ($90 million), were traded on the two markets by the end of the morning session.

The afternoon session starts at 1pm. — VNS

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