Shares continue to fall after dong devaluation
Shares continue to fall after dong devaluation
Vietnamese shares fell by 0.64 per cent to temporarily stand at 574.15 points at the end of the early trading session.
The national stock market reacted negatively to the devaluation of the dong, announced by the State Bank of Vietnam yesterday.
The continuing fall in global oil prices had a negative impact on energy shares, especially Petrovietnam Gas Joint Stock Corporation (GAS), Petrovietnam Drilling and Well Service Corporation (PVD) and Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PXS).
At the end of the morning session, the three above-mentioned shares lost 3.88 per cent, 5.43 per cent and 17.3 per cent, respectively.
Large-cap shares that have huge impacts on the market trend were exchanged heavily and fell from their previous values.
Ma San Group Corporation (MSN) and HCM City Securities Corporation (HCM) fell by 0.6 and 1.22 per cent, respectively.
However, some stocks such as insurance firms still showed positive developments, with Bao Viet Holdings (BVH) gaining 0.8 per cent and Vingroup Joint Stock Company (VIC) improving by 0.98 per cent.
The new stock, FIT Investment Joint Stock Company (FIT), topped the market trading with nearly 6.6 million of its shares being exchanged, losing five per cent in value.
The market traded more than 46 million shares, worth VND853.2 billion ($39 million).
The Ha Noi Stock Exchange's HNX Index closed the early session at 79.28 points, a decrease of 0.5 per cent.
Trading was inactive, with Petro Vietnam Construction Joint Stock Corporation (PVX) being the only stock that saw the exchange of more than one million shares.
PVX was also affected by the fall in oil prices, losing 2.78 per cent.
The afternoon session will start at 1pm.
