VN stocks dive as global markets halt trading

Thursday, Mar 19, 2020 12:10

An investor watches the price boards during a session. Vietnamese shares nosedived on Thursday morning following circuit breaks on global markets. - Photo

Vietnamese shares tumbled on Thursday morning as large-cap items were under pressure over circuit breaks in global stocks markets.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange plunged 3.65 per cent to close at 720.36 points.

The HNX-Index on the Ha Noi Stock Exchange fell 1.26 per cent to end at 100.56 points.

The VN-Index edged up 0.25 per cent on Wednesday while the HNX-Index had gained a total of 2.21 per cent in the previous two days.

More than 283 million shares were traded on the two exchanges, worth VND2.53 trillion (US$108 million).

Of the total, more than 255 million shares were exchanged in matched orders, worth VND2 trillion.

Worries about the global economic growth amid the COVID-19 pandemic erased positive confidence investors had had on Wednesday.

Large-cap stocks were hit by strong selling and the large-cap tracker VN30-Index dipped 3.58 per cent to 675.56 points.

In the VN30 basket, 28 of the 30 largest stocks by market capitalisation and trading liquidity declined and only one advanced.

Among the worst-declining large-cap stocks were HDBank (HDB), dairy producer Vinamilk (VNM), aviation firm Vietjet (VJC), PetroVietnam Gas (GAS), property developer Vincom Retail (VRE) and insurer Bao Viet (BVH).

The afternoon trading session starts at 1pm. – VNS

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