Energy stocks pull down markets
Energy stocks pull down markets
Shares were dragged down by energy stocks this morning on the two exchanges, despite a positive opening.
The benchmark VN-Index on the HCM Stock Exchange inched down 0.2 per cent to end at 562.53 points, while the HNX-Index on the Ha Noi Stock Exchange decreased 0.73 per cent to close at 78.64 points.
The continuous fall in global oil prices continued to weigh on domestic oil and gas stocks. Crude oil lost more than 10 per cent in the previous week, with Brent oil falling below US$38 a barrel, while the United States light crude oil for the first time was traded below $36 a barrel.
Large energy stocks, such as PV Gas (GAS), PetroVietnam Drilling and Wells Services (PVD), PetroVietnam Technical Services (PVS) and PetroVietnam Southern Gas (PGS), fell between 1.1 per cent and 2.8 per cent.
The market condition was negative, as the losers outnumbered the gainers by 187 to 140, while 356 closed unchanged.
The overall liquidity remained low, with just 71 million shares worth VND1.25 trillion ($55.8 million) being traded on the two markets.
The afternoon session will resume at 1pm.
