VN-Index trades lower as blue chips slide

March 29, 2017 | 15:28

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The benchmark VN-Index traded below the reference threshold at 179.13 points on Wednesday morning as investors continued to offload large-cap stocks.

The benchmark VN-Index traded below the reference threshold at 179.13 points on Wednesday morning as investors continued to offload large-cap stocks.

On the HCM Stock Exchange, 18 of the 30 largest shares by market capitalisation declined and 11 advanced.

Losers included agricultural companies, banks and securities firms.

Hoang Anh Gia Lai Co (HAG) and its agricultural arm Hoang Anh Gia Lai Agricultural Investment JSC (HNG) slumped five per cent and six per cent, respectively.

Banks such as Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and Military Bank (MBB) followed Saigon Securities Inc (SSI) and HCM Securities Corp (HCM), all incurring losses.

Shares declined more sharply on the Ha Noi Stock Exchange, with the HNX-Index down 0.54 per cent at 90.1 points.

On the positive side, insurers and food & drink companies continued to rise.

PVI Holdings (PVI) hit the daily maximum rise for a second day after the insurer announced a 20 per cent dividend and plans of easing foreign ownership limit to 100 per cent.

Other insurance companies such as Bao Viet (BVH), Bao Minh (BMI) and Petrolimex Insurance (PGI) increased between 0.5-6 per cent each.

A total of nearly 118 million shares worth VND2.1 trillion (US$90 million) were traded on the two exchanges.

Afternoon trade starts at 1pm.

VNS

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