VN shares continue to fall
VN shares continue to fall
Vietnamese shares continued to fall this morning on both local exchanges, as real-estate developers fell from Wednesday values.
The benchmark VN Index on the HCM Stock Exchange dropped 0.9 per cent to close at 598.11 points, and the HNX Index on the Ha Noi Stock Exchange ended almost flat at 80.49 points.
The property developer index fell 1.6 per cent, acting as the major cause of the national stock market's fall, while there were 26 losers and only seven gainers in the sector.
The largest stocks in the sector, such as Vingroup JSC (VIC), Kinh Bac City Development Share Holding Corporation (KBC) and Phat Dat Real Estate Development JSC (PDR), dropped two per cent, 2.2 per cent and 2.3 per cent, respectively.
Local energy stocks also fell with the fall of global oil prices, as the American benchmark crude West Texas Intermediate (WTI) lost three per cent overnight to trade at US$42.93 a barrel.
PetroVietnam Gas Corporation (GAS) and PetroVietnam Drilling and Well Services Corporation (PVD) slid 2.6 per cent and 1.2 per cent.
Other blue chips such as Vietcombank (VCB), Masan Group (MSN) and Vinamilk (VNM) also declined by 1.5 per cent, 1.4 per cent and 0.8 per cent, respectively.
Both local exchanges traded more than 89 million shares, worth VND1.37 trillion ($60.8 million).
