Energy stocks pull down VN shares
Energy stocks pull down VN shares
Vietnamese shares fell slightly on both local bourses this morning, led by energy firms due to lower global oil prices.
The benchmark VN Index on the HCM Stock Exchange inched down 0.1 per cent to close at 562.92 points, and the HNX Index on the Ha Noi Stock Exchange was down 0.6 per cent to end at 79.25 points.
Local energy stocks continued to decline after global oil prices fell further on Monday trading.
The American benchmark West Texas Intermediate (WTI) lost 5.8 per cent to trade at US$37.65 a barrel, and the euro-based crude Brent dropped 5.3 per cent to trade at $40.73 a barrel.
Suffering from lower global oil prices, the local energy stock index was down 1.6 per cent, with PetroVietnam Gas Corporation (GAS) dropping two per cent and PetroVietnam Drilling and Well Services Corporation (PVD) losing 2.7 per cent.
Other large-cap stocks such as Masan Group (MSN), Vingroup JSC (VIC), the Bank for Investment and Development of Vietnam (BID) and Vietinbank (CTG) also pulled down the market.
MSN dropped 1.4 per cent, VIC and BID were down 0.5 per cent each, and CTG lost 1.1 per cent.
Both local exchanges traded more than 81.5 million shares, worth VND1.2 trillion ($54 million).
