Low investor confidence pulls markets down
Low investor confidence pulls markets down
Vietnamese shares fell in the early session as investors were worried about global stocks markets after the US and European markets declined sharply on Monday.
The benchmark VN Index on the HCM Stock Exchange inched down 0.2 per cent to close at 619.81 points.
The HNX Index on the Ha Noi Stock Exchange dropped 0.3 per cent to end at 83.30 points.
Investor confidence remained low after the US and European markets closed down sharply on Monday on investors' worries over negative economic impact caused by Britain's vote to leave the European Union.
The retail sector pushed markets down in the early session, led by the two biggest companies, cell-phone distributor Mobile World Corp (MWG) and information and technology firm FPT Corp (FPT), which fell 3.3 per cent and 0.5 per cent, respectively.
The insurance sector also suffered from low investor confidence. Bao Viet Holdings (BVH), Bao Minh Insurance Corp (BMI) and BIDV Insurance Corp (BIC) dropped between 0.3 per cent and 1.3 per cent each.
Medical equipment providers, however, moved up and attracted investors' attention.
Domestic Medical Import-Export JSC (DMC), Benovas Pharmaceutical Com (DCL) and DHG Pharmaceutical JSC (DHG) advanced between 1.3 per cent and 4.5 per cent each.
Investors exchanged more than 64.7 million shares worth VND1.17 trillion (US$52 million).
