VN shares pulled down by Vingroup
VN shares pulled down by Vingroup
Vietnamese shares fell slightly on both local markets this morning as property firm Vingroup declined from recent gains.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange inched down 0.2 per cent each to close at 578.61 points and 80.36 points, respectively.
Property firm Vingroup (VIC) declined by 2 per cent after the stock surged 10 per cent in three consecutive trading days.
Banks also helped drive markets down, led by the Bank for Investment and Development of Viet Nam (BID), which slipped 2.5 per cent to extend the loss of 6.5 per cent for a fourth session.
Other banks such as Asia Commercial Bank (ACB), Eximbank (EIB) and Sacombank (STB) all saw declines.
Other large-cap stocks such as food and beverage producer Masan Group (MSN), Binh Minh Plastic JSC (BMP) and VNDirect Securities Corp (VND) pulled their sectors down too.
MSN fell 0.7 per cent, BMP dropped 2 per cent and VND was down 1.7 per cent.
On the opposite side, energy stocks and insurance companies saw increases, propping their markets up.
Insurer Bao Viet Holdings (BVH) gained 0.9 per cent, while PetroVietnam Mud Drilling Corp (PVC) rose 2.8 per cent.
Both local markets traded more than 106.8 million shares worth VND1.68 trillion (US$74.8 million).
