Lower oil prices pull down energy sector
Lower oil prices pull down energy sector
Vietnamese shares slid further in the early session as energy stocks were pulled down by lower crude prices.
The benchmark VN Index on the HCM Stock Exchange edged down 0.4 per cent to close at 663.96 points.
The HNX Index on the Ha Noi Stock Exchange fell one per cent to end at 85.85 points.
Energy stocks such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Mud Drilling Corp (PVC) weighed on the markets as they suffered from lower oil prices.
American crude West Texas Intermediate (WTI) fell 0.6 per cent to trade at US$45.43 a barrel during the early session.
GAS was down 0.8 per cent, while PVD and PVC were down 1.4 per cent each.
Other blue chips continued to suffer from profit–taking activity, such as Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB), Mobile World Corp (MWG) and Sai Gon Securities Inc (SSI).
VCB dropped 0.9 per cent, MWG declined by 2.1 per cent and SSI slipped 1.3 per cent.
Other stocks that also recorded losses in the early session were VNDirect Securities Corp (VND), Bao Viet Securities Corp (BVS) and the Bank for Investment and Development of Viet Nam (BID).
Investors exchanged 108.8 million shares, worth VND1.89 trillion ($84 million).
