Shares fall on blue chips
Shares fall on blue chips
Shares declined this morning on the two exchanges as large-cap stocks extended losses on rising investor pessimism.
The benchmark VN-Index on the HCM Stock Exchange was down 1.2 per cent to 663.3 points. It ended down 0.8 per cent yesterday.
On the Ha Noi Stock Exchange, the HNX-Index dropped 1.1 per cent to close at 80.4 points.Blue chips fell further under increased selling pressure. Some 26 of the top 30 largest stocks by market capitalisation lost value.
Only two -- real estate giant VinGroup (VIC) and Mobile World Group (MWG) -- bucked the trend and increased 0.1 per cent and 0.8 per cent, respectively.
Oil and gas stocks continued their downward trend following the slump in global oil prices.
The US Federal Reserve (Fed) yesterday decided to keep key interest rates unchanged following a two-day meeting, while West Texas Intermediate (WTI) oil dropped 2.9 per cent to US$45.34 per barrel, the lowest since September 28. Brent crude oil also dipped 2.6 per cent to $46.9 per barrel.
The number of declining stocks increased, with 302 of a total of 693 stocks on the two exchanges losing value, while only 91 stocks advanced.
Over 90 million shares worth a combined VND1.4 trillion ($62.8 million) were exchanged in the two markets.
The afternoon session starts at 1pm.
