Shares opened high on Ho Chi Minh Stock Exchange on Friday morning but declined by the end of the morning trade.

The VN Index was down by 0.23 per cent to 955.17 points.

The HNX Index on Ha Noi Stock Exchange also dropped by 0.87 per cent to 106.12 points.

The overall market condition was negative, with 209 stocks falling, 173 rising and 359 closing unchanged on the two exchanges.

Negative performance of blue chips, especially heavyweight shares such as Masan Group, brewer Sabeco, PV Gas, Vietcombank, Vinhomes and Techcombank, weighed on the market.

Techcombank lost 1.63 per cent in the morning trade while others declined by less than one per cent each.

On the other end of the spectrum, property and agricultural stocks gained and cushioned the market fall.

Hoang Anh Gia Lai Co. and its agricultural arm Hoang Anh Gia Lai Agricultural Co. rose by four per cent and three per cent, respectively. Resort developer FLC Group went up by 0.4 per cent.

Nearly 91 million shares, worth VND1.9 trillion (US$83.3 million), were traded on the two exchanges.

The afternoon trade starts at 1pm. – VNS