Banks recover, but VN Index continues to slide

The benchmark VN Index on the HCM Stock Exchange extended losses on Friday morning, sliding down 0.2 per cent to 766.1 points.

While banks recovered, many other large-cap stocks remained in the red. - Photo money.usnews.com

While banks recovered, many other large-cap stocks remained in the red.

Five of the seven listed lenders in the southern market advanced, but their growth was negligible at less than 1 per cent, except Eximbank (EIB), which climbed 6.6 per cent to VND11,950 a share.

Around 20 million shares of Eximbank changed hands on Friday morning through the negotiation method for VND210 billion (US$9.3 million).

VPBank (VPB), which made its debut on Thursday with 1.33 million shares, dropped 2.3 per cent, while Sacombank (STB) slipped 0.4 per cent.

Many of the heavyweights in the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City exchange) slumped, including PV Gas (GAS), VinGroup (VCI), Sabeco (SAB), Bao Viet Holdings (BVH), FPT Corp (FPT) and PetroVietnam Drilling and Wells Service (PVD).

On the positive side, Vinamilk (VNM), FLC Faros Construction (ROS), Hoa Phat Group and Saigon Securities Inc (SSI) gained.

On the Ha Noi Stock Exchange, the HNX Index also inched down 0.1 per cent to 100.38 points.

A total of 160.3 million shares worth a combined VND2.4 trillion ($105.3 million) were traded in the two markets.

The afternoon session starts at 1pm.

Source VNA