VN stocks slip on selling pressure

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.20 per cent to close at 977.65 points.

The VN-Index rose nearly 1.4 per cent last week.

Nearly 85 million shares were traded on the southern bourse, worth VND1.7 trillion.

Declining stocks outnumbered gainers by 181 to 98 while 49 stocks were flat.

Technology, agriculture, insurance, banking and rubber industries were hit by profit-taking pressure.

The insurance sector index dipped 5 per cent in the morning, data on vietstock.vn showed. It was also the worst-performing sector index.

The insurance industry was dragged down by Bao Viet Holdings (BVH).

On Thursday morning, 12 million ESOP shares of total 20.4 million shares issued by Bao Viet Holdings in 2018 were officially available for trading.

The company shares tumbled 7 per cent.

Other large-cap stocks that declined included Vietcombank (VCB), Techcombank (TCB), Vinhomes (VHM) and Vietinbank (CTG).

On the Ha Noi Stock Exchange, the HNX-Index lost 0.11 per cent to end at 107.34 points.

The HNX-Index gained nearly 1.5 per cent last week.

Nearly 20 million shares were traded on the northern bourse, worth VND236 billion.

The afternoon trading session starts at 1pm.