The VN-Index managed to close higher than the reference threshold on Friday morning, thanks to the growth of a few blue chips despite the overall negative market condition.

Losing stocks were double gaining stocks (160-83) on the HCM Stock Exchange while 101 remained unchanged.

The VN-Index inched up 0.07 per cent to 830.72 points.

Among the top 30 largest shares by market value and liquidity, only seven advanced while 18 declined.

Shares of FLC Faros Construction (ROS) continued to support the market, hitting the daily maximum rise of seven per cent.

PetroVietnam Drilling and Well Service (PVD) rose by over one per cent while Vinamilk (VNM) and Military Bank (MBB) edged up by 0.2 per cent each.

On the defensive side, many large-cap stocks slumped, including large banks such as Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and insurer Bao Viet Holdings (BVH), as well as PV Gas (GAS), FPT Corp (FPT) and Mobile World Group (MWG).

Without the support of blue chips, the HNX-Index on the Ha Noi Stock Exchange decreased 0.55 per cent to 105.73 points.

Liquidity declined as just 104.4 million shares worth over VND2 trillion (US$89 million) were traded on the two markets.

Afternoon trade starts at 1pm. — VNS