Large-cap stocks continued to slide and drove the VN-Index down 0.9 per cent to 939.21 points on Thursday morning.
Twenty of the top 30 largest shares by market value and liquidity on the HCM Stock Exchange lost value and only eight advanced.
The largest listed company, Vinamilk (VNM), decreased three per cent to below VND190,000 (US$8.33) per share. This is the third straight session of decline for the dairy firm’s stock after it peaked to VND203,000 on Monday.
Other blue chips that dragged the market most included brewer Sabeco (SAB), down 1.8 per cent; VinGroup (VIC) and Vietcombank (VCB), down 1.6 per cent each; and Vietinbank (CTG), down 1.5 per cent.
Overall market condition was negative with 141 stocks falling, 122 rising and 84 remaining unchanged.
On the positive side, significant gainers were mostly small and mid-cap stocks, including Vinacafe Bien Hoa (VCF), pharmaceutical firm Traphaco (TRA), Southern Seed Corp (SSC) and Khang An Investment Real Estate (KAC), as well as Hoa Binh Construction Group (HBC) and CMC Corp (CMG), with growth of 4-7 per cent each.
On the Ha Noi Stock Exchange, the HNX-Index closed flat at 113.37 points.
A total of 135 million shares worth combined VND2.7 trillion ($118 million) were traded on the two markets.
The afternoon session starts at 1pm. – VNS