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Shares fall as blue chips lose steam
Shares declined this morning on the two exchanges after a long rally, as blue chips lost their momentum.
On the HCM Stock Exchange, the VN-Index dropped 0.4 per cent to close the morning session at 571 points, ending the three-day rally. The losers outnumbered the gainers by 108 to 65, while 136 remained unchanged.
Large-cap stocks that provided the market momentum in the previous rallies slumped this morning, led by banks.
Four of six listed banks here lost value. BIDV (BID) was the largest loser with a fall of 2.44 per cent. The other three banks dropped below one per cent. Two banks closed unchanged.
The VN30, which tracks the top 30 shares by market value and liquidity, edged down 0.4 per cent to stand at 590.67 points.
Liquidity was low, as just 51 million shares worth VND787.5 billion (US$35 million) were traded by the end of the morning.
Only 13 of the total 308 stocks saw trading of more than one million shares. Quang Nam Investment Industry (VHG) was temporarily leading, with 5.4 million of its shares being traded at VND8,100 each.
On the Ha Noi Stock Exchange, the HNX-Index also fell 0.5 per cent to end at 78 points, with a low trading value of just VND189 billion ($8.4 million).
Only two shares of a total 367 saw trading of more than one million shares, with Vietnam Construction and Import-Export (VCG) trading 1.6 million shares and PetroVietnam Construction (PVX) trading more than one million shares.
The afternoon session will start at 1pm.
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