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Market edges down as selling pressure weighs
The stock market fell on Thursday morning on losses in large-cap stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index plunged 8.62 points, or 0.65 per cent, to 1,324.28 points. The market's breadth was negative as 258 stocks declined while 121 stocks climbed.
However, the liquidity was high with over 408.8 million shares traded on the southern market, worth nearly VND14 trillion (US$606.6 million). This showed active profit-taking activities on the market.
The losses on large-cap stocks across all sectors were the main reason for the market's downward trend.
The VN30-Index, tracking 30 biggest stocks on HoSE, fell 0.52 per cent to 1,450.18 points. Twenty-five of 30 biggest stocks in the VN30 basket fell while only four stocks rose.
Real estate stocks were leading the market's trend this morning with Vinhomes JSC (VHM) losing the most, down 1.51 per cent. It was followed by Vingroup JSC (VIC), down 1.09 per cent.
Other stocks from banking, utilities, information technologies, retail and material sectors also witnessed big losses. These stocks included JSC Bank for Investment and Development of Vietnam (BIDV, BID), Vietnam Rubber Group (GVR), Vietcombank (VCB) and PetroVietnam Gas JSC (GAS).
Gains in some big stocks limited the losses though. Hoa Phat Group (HPG) was the biggest gainer on morning trade, up 2.58 per cent.
On Ha Noi Stock Exchange (HNX), the HNX-Index also lost 0.336 per cent to 315.83 points. The HNX30-Index inched 0.87 per cent down to 487.73 points.
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