Shares retreat following US, Asia slump
Shares retreated on Thursday morning due to the negative movement of global markets and the Asian market.
US stock futures and Asian shares tumbled on Thursday after Canadian authorities arrested a top executive of Chinese tech giant Huawei for extradition to the United States, fanning fears of a fresh flare-up in tensions between the two superpowers.
Huawei is one of the world’s largest makers of smartphones and telecommunications network equipment.
The VN-Index on the HCM Stock Exchange was down 0.29 per cent at 954.34 points.
On the Ha Noi Stock Exchange, the HNX-Index inched down 0.35 per cent at 107.36.
A total of more than 133 million shares worth VND2.5 trillion ($107 million) were traded on the two exchanges.
Although recent oil prices are still in a downtrend, oil and gas groups showed positive movement with Petro Vietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS) and PetroVietnam Drilling & Well Services Corporation (PVD) all gaining.
Among the losers, HDBank (HDB), steel maker Hòa Phat Group (HPG) and FLC Faros Construction Joint Stock Company weighed on the market.
The afternoon trading session starts at 1pm.