Shares extend losses on low liquidity

The VN-Index on the Ho Chi Minh Stock Exchange decreased 0.63 per cent to close morning trading at 965.99 points.

On the Ha Noi Stock Exchange, the HNX-Index fell 0.69 per cent to 105.69 points.

Liquidity continued to fall with nearly 90 million shares worth VND1.6 trillion (US$70.2 million) changing hands on the two exchanges this morning, down 16 per cent from Wednesday’s morning value.

According to stock analysts, the low liquidity showed rising investor caution.

The performance of large cap stocks was mixed.

“Vin” stocks continued to decline. Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) dropped by between 1.2 per cent and 2.7 per cent.

Vinamilk (VNM), Sacombank (STB), Hoa Phat Group (HPG), Eximbank (EIB) and Coteccons Construction (CTD) maintained their downtrend, while FPT (FPT), PV Gas (GAS) and VPBank (VPB) rose by more than 1 per cent.

According to Bao Viet Securities Co, some stocks retreated to support level such as oil and gas firms, banks and blue-chips in the VN30 basket. They may recover in the next session; however, profit-taking pressure is increasing in stocks with positive business results in the first quarter though information has yet to be officially announced.

The afternoon trading session starts at 1pm.