VN stocks fall slightly to extend losses
VN stocks fall slightly to extend losses
Vietnamese shares struggled on both local exchanges this morning as low investor confidence pushed large-cap stocks down further.
The benchmark VN Index on the HCM Stock Exchange declined slightly to end at 610.87 points and the HNX Index inched down 0.1 per cent to close at 81.18 points.
The banking sector, which has had the biggest impact on the markets recently, showed mixed results on worries of a possible US rate hike in June, forcing foreign investors to withdraw their investments from emerging markets, including Viet Nam.
Among the banks, Asia Commercial Bank (ACB) and Sacombank (STB) rose 0.5 per cent and 0.9 per cent, respectively, while Eximbank (EIB), Sai Gon-Ha Noi Bank (SHB) and Vietcombank (VCB) remained in the negative territory.
Energy firms were also mixed. Among the large-cap energy stocks, PetroVietnam Gas Corp (GAS) dropped 0.9 per cent, while PetroVietnam Drilling and Well Service Corp (PVD) gained 0.7 per cent.
Poor performances by Sai Gon Securities Inc (SSI), Bao Viet Securities Corp (BVS) and FIT Investment JSC (FIT) sent the brokerage business down.
Both local exchanges traded nearly 77.6 million shares worth VND1.23 trillion (US$55 million).
