Vietcombank, PetroVietnam Gas pull VN Index down
Vietcombank, PetroVietnam Gas pull VN Index down
The VN Index on the HCM Stock Exchange fell on Thursday morning, driven by PetroVietnam Gas Corporation’s shares.
The benchmark index inched down 0.1 per cent to close at 701.26 points. It ended Wednesday at 702.04 points.
PetroVietnam Gas Corporation (GAS) and Vietcombank (VCB) were among the large-cap stocks that drove the southern market down.
GAS dropped 1.9 per cent after the oil and gas group began trading its nearly 19 million ESOP shares. These shares were issued in early 2016 and remained untradeable on the stock market until now.
VCB was down 0.1 per cent after rising a total of 2.7 per cent in the previous two sessions.
The fall of the largest-listed bank by market capitalisation was possibly due to its commitment to Deputy Prime Minister Vuong Dinh Hue on Wednesday to support the restructuring of an ailing bank.
VCB has not revealed the name of the local bank that will receive support or details about the support plan.
Besides these two large-cap stocks, others such as brewer Sabeco (SAB), property developer Vingroup (VIC) and Bank for Investment and Development of Viet Nam (BID) also declined.
More than 78.7 million shares were traded on the southern exchange, worth VND1.65 trillion (US$73.66 million).
On the Ha Noi Stock Exchange, the HNX Index advanced 0.2 per cent to end at 85.48 points.
Some 20 million shares were exchanged on the northern market, worth VND204.38 billion.
