Home Stocks Stock Market

Dropping oil stocks push markets down

Dec 19th at 14:04
19-12-2018 14:04:31+07:00

Dropping oil stocks push markets down

Shares shed value on Wednesday morning due to pressure from falling oil stocks affected by slumping global oil prices.

 

The VN-Index on the Ho Chi Minh Stock Exchange edged down 0.89 per cent to end the morning trading at 919.04 points.

It fell 0.69 per cent to end at 927.25 points on Tuesday.

On the Ha Noi Stock Exchange, the HNX-Index fell 0.22 per cent to 104.20 points.

The index fell 0.56 per cent to 104.42 points on Tuesday.

More than 115.7 million shares worth a combined VNĐ2.5 trillion (US$108 million) were traded on the two markets.

World oil prices are plummeting, hitting oil stocks. Brent futures fell by 6 per cent to $56.08 per barrel. US crude West Texas Intermediate (WTI) dropped 7.3 per cent to trade at $46.54 a barrel.

Firms that lost value in the oil group were PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS), PetroViet Nam Coating JSC (PVB), Viet Nam National Petroleum Group (PLX) and PetroVietnam Gas JSC (GAS).

Other large-cap stocks also slipped, including budget carrier Vietjet (VJC), dairy firrm Vinamilk (VNM), Vincom Retail (VRE), Techcombank (TCB) and Vietinbank (CTG).

Afternoon trading starts at 1pm.

bizhub

MOST READ

NEWS SAME CATEGORY

Shares fall on world stocks sinking
STOCK MARKET Dec 19th at 08:37

Shares fall on world stocks sinking

Shares continued to fall on Tuesday due to the uneasy global market and the worries among investors about the US Fed’s imminent interest rate hike decision.

Shares extend losses
STOCK MARKET Dec 18th at 13:46

Shares extend losses

Shares continued to fall on Tuesday morning due to the uneasy global market and the slump in global oil prices weighing down oil stocks.

Shares down for third straight session
STOCK MARKET Dec 18th at 10:32

Shares down for third straight session

Shares declined on the two national stock exchanges for the third straight session yesterday with strong selling pressure weighing on the indices.

Derivatives volume rises again, individuals dominate trading
STOCK MARKET Dec 18th at 07:27

Derivatives volume rises again, individuals dominate trading

All four contract codes were traded in the derivatives market on the Ha Noi Stock Exchange (HNX) in November, with total trading volume of 2.82 million contracts...

Shares to grow slower in two weeks on volatility worries
STOCK MARKET Dec 17th at 14:12

Shares to grow slower in two weeks on volatility worries

Vietnamese shares are forecast to rise at a slower pace over the last two weeks of the year amid worries about volatile global markets and falling domestic...

Shares drop on selling pressure
STOCK MARKET Dec 17th at 14:09

Shares drop on selling pressure

Shares declined on the two national stock exchanges on Monday morning due to strong selling pressure weighing on the indices.

Banks are sluggish to list stocks
STOCK MARKET Dec 15th at 22:35

Banks are sluggish to list stocks

As 2018 is almost over, many local banks still have not shown any signs of listing on the Unlisted Public Company Market (UPCoM) as per their plan announced earlier...

VN stocks fall for a second day on economic growth worries
STOCK MARKET Dec 15th at 22:28

VN stocks fall for a second day on economic growth worries

Vietnamese shares fell for a second day due to worries about a slowing global economy.

Local brokerages face fierce foreign competition
STOCK MARKET Dec 15th at 22:26

Local brokerages face fierce foreign competition

Local securities companies are facing stiff competition from their foreign rivals, especially in the race for capital.

Shares tumble, ROS slumps after chairman’s wife announces share offload
STOCK MARKET Dec 14th at 15:17

Shares tumble, ROS slumps after chairman’s wife announces share offload

Shares declined on the two national stock exchanges on Friday morning, dragged down by slumps from heavyweight stocks.

Read More

TRENDING

MOST READ

Back To Top