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VN stocks struggle to advance
Vietnamese shares rebounded on Wednesday morning amid volatile trading conditions as investors began to lock in short-term profits.
The benchmark VN Index on the HCM Stock Exchange inched up 0.11 per cent to close to 1,064.18 points. It closed slightly down on Tuesday.
The minor HNX Index on the Ha Noi Stock Exchange advanced 0.81 per cent to end at 122.58 points. The northern market index dropped 0.36 per cent in the previous session.
Nearly 206.5 million shares were traded on the two local exchanges, worth VND4.71 trillion (US$209.4 million).
Large-cap stocks were mixed, with 14 of the 30 largest stocks by market capitalisation in the VN30 Index falling, against 12 gaining ones and four stocks closing unchanged.
Among 20 sectors in the market, real estate, energy and agriculture were the best gainers, with industry indices rising between 0.4 per cent and 0.8 per cent, data on vietstock.vn showed.
Meanwhile, financial-banking, food and beverage, healthcare and pharmaceuticals, and construction material production were hit by a strong profit-taking after both stock indices had gained substantially.
According to analysts and brokerage firms, such corrections of both local indices are necessary so that the market can settle down and ease some margin lending pressure before making further development.
The afternoon trade session starts at 1pm.
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