VN Index loses steam, blue chips down
VN Index loses steam, blue chips down
Vietnamese shares ended mixed in the early session, with large-cap stocks witnessing orders to sell so investors could make short-term profits.
The benchmark VN Index on the HCM Stock Exchange inched down 0.1 per cent to close at 684.35 points.
The market lost its momentum as large-cap stocks suffered from profit-taking, such as property developer Vingroup JSC (VIC), insurer Bao Viet Holdings (BVH) and information technology group FPT Corp (FPT).
VIC fell 2.7 per cent this morning after it rallied 8.6 per cent in the previous six sessions, BVH dropped 1.6 per cent following a seven-day gain of 20 per cent and FPT closed flat after a four-day rise of 5.1 per cent.
Crude prices ended lower on Tuesday as market analysts and traders said a deal among the world's top oil exporters to freeze their outputs at the current level was unlikely.
London-traded Brent crude on Tuesday declined by 2.9 per cent to finish at near US$46 per barrel.
Following the decrease in oil prices, energy stocks such as PetroVietnam Gas Corp (GAS) and PetroVietnam Technical Services Corp (PVS) ended in negative territory.
On the other hand, the HNX Index on the smaller Ha Noi Stock Exchange went up 0.8 per cent to end at 84.13 points, led by Asia Commercial Bank (ACB), VNDirect Securities Corp (VND) and An Phat Plastic and Green Environment JSC (AAA).
Investors traded nearly 94.5 million shares worth nearly VND1.9 trillion ($84.4 million).
