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Economic growth concerns still weigh on local stocks
Vietnamese shares dropped on Thursday morning with weak market trading liquidity as investors were still cautious amid global volatility.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange fell 0.29 per cent to close at 893.35 points.
The VN-Index tumbled 1.51 per cent on Wednesday.
More than 86.6 million shares were traded on the southern bourse, worth VND1.84 trillion (US$79.4 million).
Trading liquidity was modest as investors still worried about the market’s collapse as the global economy was being shaken by a potential coronavirus pandemic, which weighs on 2020 economic growth.
Real estate, insurance, banking, healthcare and pharmaceuticals, rubber and utilities sectors were among the decliners.
Major stocks such as PetroVietnam Gas (GAS), Masan (MSN), Vietjet (VJC), Vietcombank (VCB), Vinhomes (VHM), PetroVietnam Power (POW) and Vingroup (VIC) were among large-cap decliners that were hit by strong selling.
Positive signals appeared when investors tried to scoop stocks up after they had been brought down significantly since the beginning of the week.
Large-cap tracker VN30-Index was up only 0.06 per cent with 16 gainers and 12 decliners.
On the Ha Noi Stock Exchange, the HNX-Index rose 1.20 per cent to end at 107.90 points.
The northern market index finished Wednesday down 0.05 per cent.
More than 23.5 million shares were traded on the northern bourse, worth VND239 billion.
The afternoon trading session starts at 1pm.
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