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Vingroup hits ceiling, VN-Index increases
Shares opened higher on Tuesday morning, driven by strong growth of Vingroup (VIC), but the slump of other large-cap shares by the end of the morning session pulled the market down.
On the Ho Chi Minh Stock Exchange, the VN-Index edged up just 0.32 per cent to 1,256.4 points, a drawback compared to an increase of 1.2 per cent at around 10am.
Vingroup's shares maintained their growth, hitting the ceiling price at VNĐ141,200 (US$6.09) a share.
However, 17 of the top 30 largest shares by market value and liquidity slipped while only 10 advanced.
The financial sector was the biggest loser with many banks and financial firms losing value, including BIDV (BID), Vietinbank (CTG), insurer Bao Viet Holdings (BVH), Hoang Huy Financial Investment Services (TCH), Techcombank (TCB), Saigon Securities Inc (SSI), Military Bank (MBB) and Sacombank (STB).
Overall market breadth was negative with 294 shares falling, 130 rising and 69 closing flat.
Nearly 834 million shares worth VND18.1 trillion ($780 million) were traded in the morning.
On the Ha Noi Stock Exchange, the HNX-Index inched down 0.07 per cent to 295.32 points. More than 163 million shares worth VND2.8 trillion were exchanged.
The afternoon trade starts at 1pm.
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