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Vietnamese stocks trade with uncertainty amidst investor pessimism
Vietnamese shares were volatile on Tuesday morning as investors remained doubtful of the market’s short-term prospects.
The benchmark VN Index on HCM Stock Exchange was up by 0.30 per cent to close at 1,065.45 points. It had jumped by 3.4 per cent on Monday.
The HNX Index on Ha Noi Stock Exchange fell by 0.52 per cent to end at 125.89 points, retreating from a three-day increase of 4.6 per cent.
More than 109 million shares, worth VND2.84 trillion (US$126 million), were traded on the two local exchanges.
Large-cap stocks were mixed with 15 of the 30 largest shares by market capitalisation in the VN30 basket advancing against 13 decliners.
The VN30 Index, which tracks the performance of the 30 largest stocks, gained 0.44 per cent to reach 1,052.52 points.
According to BIDV Securities Co, low trading liquidity in recent weeks has proved that investor sentiment is reaching the bottom at the moment, thus the correction may continue in the short term.
Of the 20 sectors, 12 saw share prices go up, including insurance-finance companies and agricultural firms, whose industry indices gained 2.6 per cent and 0.8 per cent, respectively, according to vietstock.vn.
On the opposite side, property developers, securities companies, energy firms and food and beverage producers were among those whose shares declined.
The afternoon trading session starts at 1pm.
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