VN stocks fall on weak market sentiment

Tuesday, Sep 04, 2018 12:45

An investor monitors market movements as ETF reviews begin to roll in on Tuesday morning. — Photo

Vietnamese shares fell on Tuesday morning as investor confidence was weighed by the quarterly portfolio reviews of exchange-traded funds (ETFs).

The benchmark VN Index on the HCM Stock Exchange dropped 0.43 per cent to end at 985.28 points. It gained a total of 0.25 per cent last week.

The HNX Index on the Ha Noi Stock Exchange lost 0.71 per cent to close at 111.99 points. The northern market index was up 1 per cent last week.

Nearly 115 million shares were traded on the two local bourses, worth VND2.2 trillion (US$97.8 million).

Overall market sentiment was on the edge as ETFs reviewed their investment portfolios for the last quarter of the year.

The market breadth was negative with 168 stocks gaining, 230 declining and 94 ending flat.

According to analysts, the quarterly ETF portfolio reviews could result in volatile trading conditions as investors monitor what the ETFs are doing before they make their move.

Large-cap stocks underperformed on Tuesday morning with 22 of the 30 largest shares by market capitalisation in the VN30 basket falling.

The blue chip VN30 Index shed 0.61 per cent to stand at 963.28 points, dragged down by Vietinbank (CTG), Phu Nhuan Jewellery JSC (PNJ), property developers Novaland (NVL) and Vincom Retail (VRE), and Saigon Securities Inc (SSI).

The afternoon trading session starts at 1pm. — VNS

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