Shares slide after two-day gain
Shares slide after two-day gain
After two positive gaining sessions, the market faced selling pressure on Tuesday morning, following global tension and drops on world markets.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange was down 0.20 per cent to 914.26 points.
On the Ha Noi Stock Exchange, the HNX-Index slipped 0.59 per cent to end at 103.34 points.
Over 96 million shares worth a combined VND2.2 trillion (US$94 million) were traded on the two bourses.
US stocks came under heavy selling pressure on Monday, with the Nasdaq tumbling 3 per cent, as investors dumped Apple, internet and other technology shares. Conflicting signals between the United States and China on their trade dispute added to caution.
The Dow Jones Industrial Average fell 395.78 points, or 1.56 per cent, to 25,017.44, the S&P 500 lost 45.54 points, or 1.66 per cent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 per cent, to 7,028.48.
At the beginning of the trading day, many large-cap stocks fell. BDBank HDB fell by 2.4 per cent to trade at VNĐ30,150 per share. Vingroup (VIC) was down slightly 0.1 per cent to VNĐ96,300 per share after hitting the ceiling price on Monday. FLC Faros Construction Joint Stock Company (ROS) decreased 3.4 per cent to VNĐ35,350 per share.
However, the market’s downward movement was restrained by the support of several major stocks including Vinamilk (VNM) and VPBank (VPB), up 3.6 and 1.4 per cent, respectively.
The afternoon session starts at 1pm.
