VN stocks turn down on energy firms
VN stocks turn down on energy firms
Vietnamese shares turned back to negative territory in the early trading session, led by energy firms.
The benchmark VN Index on the HCM Stock Exchange pulled back 0.4 per cent to close at 622.98 points.
Meanwhile, the HNX Index on the Ha Noi Stock Exchange edged down 0.6 per cent to end at 83.88 points.
Also, the energy sector continued its downward trend, after rising on Tuesday as oil prices extended losses last week. US crude slipped 1.4 per cent to trade at US$47.82 per barrel.
PetroVietnam Drilling and Well Service Corp (PVD), PetroVietnam Coating Corp (PVB) and PetroVietnam Mud Drilling Corp (PVC) were the major stocks that weighed on the sector.
PVD lost 2.5 per cent, PVB dropped 1.7 per cent and PVC slid 1.8 per cent.
Additionally, banks and brokerage firms continued to suffer from investors' being cautious prior to the US central bank's meeting today, which is expected to maintain stable lending rates.
Vietcombank (VCB), Sacombank (STB), Military Bank (MBB) and the Bank for Investment and Development of Vietnam (BID) saw declines.
Among securities firms, Sai Gon Securities Inc (SSI), HCM City Securities Corp (HCM), Bao Viet Securities Corp (BVS) and VNDirect Securities Corp (VND) were in negative territory.
Investors exchanged some 98 million shares, worth VND1.37 trillion ($61 million).
