VN Index struggles to gain further
VN Index struggles to gain further
Viet Nam’s benchmark VN Index on the HCM Stock Exchange struggled to rise on Wednesday morning while investor confidence remained low.
The key stock index inched up 0.1 per cent to close at 715.53 points. It rose 0.6 per cent on Tuesday following a four-day loss of 2.8 per cent.
Market trading liquidity was modest with more than 70.6 million shares being traded, worth VND1.5 trillion (US$66.2 million).
Viet Nam’s major stock index mostly remained negative on Tuesday morning as investor confidence was low following negative cues of global stock markets.
The banking sector still weighed down the stock market with four of the six listed banks on HOSE declining, namely Vietcombank (VCB), BIDV (BID), Eximbank (EIB) and MBBank (MBB).
Energy stocks were also in negative territory on sliding crude prices. Brent crude was down 0.2 per cent to trade at $54.77 per barrel.
Among local energy stocks, PetroVietnam Gas (GAS) was flat while PetroVietnam Drilling and Well Services (PVD) dropped 1 per cent.
Gains were seen in dairy producer Vinamilk (VNM), Faros Construction (ROS) and Bien Hoa Sugar JSC (BHS).
BHS surged 6.9 per cent on information that the company would be merged with sugar producer Thanh Thanh Cong Tay Ninh JSC (SBT).
On the Ha Noi Stock Exchange, the HXN Index fell 0.3 per cent to close at 88.88 points, reversing from a gain of 0.9 per cent on Tuesday.
Nearly 28.7 million shares were traded on the northern bourse, worth VND310.7 billion.
