VN stocks fall further with declining oil prices
VN stocks fall further with declining oil prices
Vietnamese shares ended lower in the early session as falling oil prices pulled energy firms down.
The benchmark VN Index on the HCM Stock Exchange edged down 0.4 per cent to close at 621.17 points.
The HNX Index on the Ha Noi Stock Exchange finished at 84.03 points, down 0.3 per cent.
Energy firms suffered further losses after US crude closed Monday at US$48.88 per barrel, down 4.6 per cent from the eight-month high of $51.23 on June 8.
PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Transportation Corp (PVT) were the biggest decliners, losing between 1.2 per cent and 1.7 per cent.
Investors' cautiousness ahead of the US central bank's meeting on Wednesday also drove financial stocks down, including banks and brokerage firms.
The three largest banks – Vietcombank (VCB), Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID) – fell 0.8 per cent, 1.7 per cent and 1.1 per cent, respectively.
Among the brokerage firms, HCM City Securities Corp (HCM), Sai Gon Securities Inc (SSI), VNDirect Securities Corp (VND) and Bao Viet Securities Corp (BVS) dropped between 0.9 per cent and 1.6 per cent.
Both local markets exchanged more than 78.8 million shares, worth VND1.24 trillion ($55.2 million).
