Bank and oil stocks drive market down
Bank and oil stocks drive market down
Shares edged down on Tuesday morning, driven by losses of banks and oil companies.
The benchmark VN-Index on the HCM Stock Exchange was down 0.2 per cent to stand at 722 points.
On the smaller Ha Noi Stock Exchange, the HNX-Index decreased 0.6 per cent to end at 90.9 points.
Overall market condition was negative with 232 stocks falling, 155 rising and 308 remaining unchanged on the two exchange.
Banks and oil stocks were the largest losers.
Seven of the nine listed banks lost value, including Vietcombank (VCB), Vietinbank (CTG), BIDV (BID), Sacombank (STb), Asia Commercial Bank (ACB) and Sai Gon-Ha Noi Bank (SHB).
Large oil and gas firms such as PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD) continued their downward trend following the global oil slump.
On the positive side, rubber shares rose sharply on strong gains of natural rubber oil in global markets.
Large firms such as Quang Nam Rubber Investment (VHG), Dong Phu Rubber (DPR), Phuoc Hoa Rubber (PHR) and Tay Ninh Rubber (TRA) advanced between 1.6-5.9 per cent each.
A total of 168.3 million shares worth VND2.4 trillion (US$104 million) were traded on the two markets.
Afternoon trade starts at 1pm.
