Comments
Vietnam’s benchmark VN Index dropped 0.85 per cent to close at the lowest since February 9 in weak volume as investors reduced their risk positions.
All big-caps lost ground, led by food producer Masan Group that declined 1.79 per cent, followed by dairy product maker Vinamilk, the country’s second-biggest listed firm by market value, with a 0.92-per cent fall.
Volumes dropped 22 per cent from the previous session to 84.53 million shares, while Thursday’s losses dragged Vietnam’s relative strength index to the lowest in Southeast Asia at 40.3, close to the over-sold benchmark of 30, Reuters data showed.
“I expect buying orders will surge in the last 15 minutes of tomorrow’s trade,’’ said deputy manager Nguyen Thanh Lam of Maybank Kim Eng Securities, referring to the last trading day of two major exchange traded funds' quarterly restructuring.
The Market Vectors Vietnam and db-x trackers FTSE Vietnam exchange-traded funds are scheduled to end their portfolio rejigs on Friday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.