Shares slump with weak trading

Vietnamese shares ended the morning session with fall in both bourses and weak trading activity.

The trading volume on the two local bourses totalled more than 61 million shares, worth VND953.6 billion (US$43.7 million).

The HCM Stock Exchange's VN Index dropped 0.16 per cent to stand at 588.06 points.

The VN Index started the new trading session higher than Friday's level. However, weak market demand erased the gains later.

Large-cap shares were mixed. Ma San Group Corporation (MSN) gained VND2,000 per share, while Vingroup Corporation (VIC) and Vietcombank (VCB) were up by VND100.

However, Petrovietnam Gas Joint Stock Corporation (GAS) extended its loss by VND1,000, compared with Friday's value, while Vietinbank (CTG) was down VND200.

Property developer FLC Group (FLC) topped the market trading with more than 4.4 million of its shares being traded, rising 1.35 per cent in value.

The HNX Index on the Ha Noi Stock Exchange lost 0.36 per cent to temporarily stand at 80.59 points.

Construction companies made the best gains this morning. VNECO 9 Investment and Construction JSC (VE9) rose 10 per cent in market value, while Hung Long Mineral and Building Materials JSC added 5.26 per cent.

Only three codes saw more than one million of their shares being traded, including KLF Joint Venture Global Investment (KLF) and Sai Gon-Ha Noi Bank (SHB).

The afternoon session will start at 1pm.

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