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Market struggles but VN-Index edges higher
Shares were mixed on Wednesday morning, with the VN-Index recovering on the back of large-cap stocks.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched up 6.67 points, or 0.46 per cent, to 1,445.61 points, claiming back some of yesterday's losses.
The market's breadth was neutral, while liquidity continued to fall sharply. On the southern bourse, over 350.7 million shares were traded, worth nearly 10.1 trillion (US$444.2 million).
The index's reversal was mainly driven by gains in large-cap stocks. The VN30-Index, tracking the 30 biggest stocks on HoSE, rose 11.12 points, or 0.75 per cent, to 1,488.18 points. Of the VN30 basket, 20 stocks increased, while nine declined and one ended flat.
Masan Group (MSN) was the biggest gainer this morning, contributing to the recovery. The shares were up 4.64 per cent.
Other stocks supporting the uptrend were Becamex (BCM), Vinhomes (VHM) and VPBank (VPB).
However, the selling force was still lingering, weighing on investor risk appetite. Of which, Vietcombank lost the most, down 1.6 per cent. Sacombank (STB) was another bank posting large losses of 1.47 per cent.
Real estate stocks continued the downtrend with large stocks like Vingroup (VIC) and Novaland (NVL) losing more than 1 per cent, while Development Investment Construction JSC (DIG) continued to hit the biggest daily loss of 7 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index extended losses, down 13.43 points, or 3.19 per cent, to 407.78 points.
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