A store of Phu Nhuan Jewelry JSC (PNJ) in HCM City. PNJ lost 0.5 per cent on Wednesday. — Photo pnj.com.vn Shares ended lower on Wednesday due to selling pressure pushing large cap stocks down, but bottom purchase demand increased towards the end of trading, helping narrow the market’s decline. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 0.09 per cent to close Wednesday at 889.32 points. The southern index had risen 0.21 per cent to close Tuesday’s trading session at 890.14 points. More than 318.4 million shares were traded on the southern bourse, worth VND6 trillion (US$258.2 million). Market breadth was neutral with 185 decliners and 202 gainers. According to Thanh Cong Securities Co, after the VN-Index successfully breaks the 900-point threshold, there will be corrections in the short term as the market will need more time to accumulate before returning to stronger momentum. “It is forecasted that the VN-Index will continue to struggle in the next sessions, differentiation will happen in large-cap stocks,” the company said. The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, decreased 0.38 per cent to close Wednesday at 824.42 points. In… Read full this story
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