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Shares lose steam as selling pressure increases
Shares lacked positive momentum at the end of Tuesday’s session due to a sudden increase in selling pressure, pushing large cap stocks down.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0.64 per cent to close Wednesday morning at 884.60 points.
More than 156.5 million shares were traded on the southern bourse, worth VNĐ2.9 trillion (US$125 million).
Market breadth was negative with 281 decliners and 105 gainers.
Large-caps were strongly hit, including Vingroup (VIC), Bank for Development and Investment (BID), PetroVietnam Gas JSC (GAS), Hoa Phat Group (HPG), Military Bank (MBB), Novaland (NVL), Mobile World Group (MWG), Vietcombank (VCB), PetroVietnam Gas JSC (GAS), Masan Group (MSN), Vinamilk (VNM), Vincom Retail (VRE), Vietinbank (CTG) and Vinhomes (VHM).
On a sector basis, retail, insurance, real estate, energy, banking, information and technology, food and beverage, seafood processing, construction materials and logistics were among the losers on Wednesday.
On the Hà Nội Stock Exchange, the HNX-Index was down 0.46 per cent to end at 124.23 points.
Nearly 25.4 million shares were traded on the northern market, worth VNĐ350 billion.
The northern market index was up 0.76 per cent to end at 105.85 points on Tuesday.
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