VN Index falls for 2nd day

Hanoi (VNA) - Benchmark VN Index extended losses for a second session on March 10 as investors offloaded their stakes to avoid negative effects of macroeconomic factors.

The HCM Stock Exchange index fell 0.5 percent to finish the week at 712.21 points, having fallen 0.6 percent after a four-day increase of 1.3 percent.

The last two declining sessions also erased all gains the VN Index made in the previous four days. It finished the week slightly lower than last week’s closing level of 712.62 points.

In the banking sector, Vietcombank (VCB), MBBank (MBB), Vietinbank (CTG) and Bank for Investment and Development of Vietnam (BID) were decliners with losses ranging between 0.8 percent and 1.5 percent.

The decline was worsened by other leading stocks such as the southern brewer Sabeco (SAB), PetroVietnam Gas Corp (GAS), DHG Pharmaceutical JSC (DHG) and dairy producer Vinamilk (VNM).

Property and other large-cap stocks such as Faros Construction Corp (ROS), Vingroup (VIC), Hòa Phát Group (HPG) and FPT Corporation (FPT) increased to help the market avoid falling deeper.

On the day, market trading volume increased one percent from March 9’s number with more than 197.4 million shares being exchanged, however, trading value dropped 3.8 percent to 3.55 trillion VND (158 million USD).

On the Hanoi Stock Exchange, the HNX Index gained 0.5 percent to end at 88.13 points. The northern market index has rallied a total 1.8 percent in the last four sessions, which helped the index gain 1.7 percent week on week.

More than 48.8 million shares were traded on the northern bourse worth 580 billion VND, increases in trading volume and value from March 9. - VNA