Shares extend losses this morning
Shares extend losses this morning
Vietnamese shares extended their losses on both local markets this morning, led by large-cap stocks, as investors remained worried following a steep fall of Chinese stocks.
The benchmark VN Index on the HCM Stock Exchange inched down 0.2 per cent to close at 573.14 points, and the HNX Index on the Ha Noi Stock Exchange dropped 1.1 per cent to end at 78.59 points.
Investors continued to sell their assets in the largest stocks, such as food and beverage producer Masan Group (MSN), property developer Vingroup JSC (VIC), Vietcombank (VCB) and Vietinbank (CTG).
At the end of this morning, MSN fell 1.3 per cent, VIC was down 0.8 per cent and CTG lost 0.6 per cent.
Local energy stocks suffered from a drop in global oil prices. PetroVietnam Drilling and Well Services Corporation (PVD) fell 2.7 per cent, PetroVietnam Technical Services Corporation (PVS) lost 1.2 per cent, and Petroleum Equipment Assembly and Metal Structure JSC (PXS) was down 1.7 per cent.
However, PetroVietnam Gas Corporation (GAS) gained 0.6 per cent, insurer Bao Viet Holdings (BVH) increased by 1.9 per cent and the Bank for Investment and Development of Vietnam (BID) was up 0.5 per cent.
Both markets traded nearly 67 million shares, worth VND952 billion (US$42.3 million).
