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VN-Index down, blaze burns Rang Dong shares
Viet Nam’s benchmark VN-Index declined on Thursday morning as investors sought ways to leave large-caps and turned to smaller stocks amid uncertain market conditions.
The VN-Index on the Ho Chi Minh Stock Exchange edged down 0.27 per cent to close at 974.59 points. It rose 0.05 per cent on Wednesday.
Nearly 65 million shares were traded on the southern bourse, worth VND1.3 trillion (US$56 million).
Investors ran away from large-cap stocks amid market volatility.
The large-cap VN30-Index dropped 0.31 per cent to end at 883.31 points with 19 of the 30 largest stocks by market capitalisation declining.
Nine stocks in the VN30 basket advanced while only two ended flat.
Insurance, healthcare and pharmaceuticals, agriculture, seafood processing and electrical production were the sectors that weighed on the stock market.
After a blaze at one of its warehouses on Wednesday night, shares of Rang Dong Light Source and Vacuum Flask JSC (HoSE: RAL) plunged 6.9 per cent on worries about the company’s losses.
Investors sought opportunities in smaller stocks, lifting the VNMID-Index up 0.31 per cent to 966.54 points and the HNX-Index on the Ha Noi Stock Exchange up 0.07 per cent to 189.57 points.
The Ha Noi index fell 0.52 per cent on Wednesday. Only nine million shares were traded on the northern bourse, worth VND108 billion.
The afternoon trading session starts at 1pm.
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