Falling US stocks dampen investor confidence
The negative movement of the US stock market last night seems to have dampened the mood of domestic investors, sending the local indexes into a decline on Tuesday morning.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 0.59 per cent in morning trading to close at 969.59 points.
The VN-Index inched up 0.10 per cent on Monday to close at 975.31 points.
More than 89.5 million shares were traded on the southern bourse, worth VND2.2 trillion (US$94 million).
Investors received negative news from world markets. The Dow Jones dropped 391 points yesterday, or 1.49 per cent, to 25,896.44 points. The S&P 500 lost 35.96 points, or 1.23 per cent, to 2,882.69 points. The Nasdaq fell 95.73 points, or 1.2 per cent, to 7,863.41 points.
Bluechips such as Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), Vietjet Air (VJC), Việt Nam National Petroleum Group (PLX), PVPower (POW), Bảo Việt Holdings (BVH), PetroVietnam Gas JSC (GAS), Masan Group (MSN) and Vietcombank (VCB) all fell.
The banking, securities, oil and gas, textile and industrial zone sectors also adjusted.
Large-cap stocks dropped with the VN30-Index decreasing by 0.39 per cent to end at 879.72 points.
As many as 19 of the 30 largest stocks by market capitalisation and trading liquidity declined.
On the Ha Noi Stock Exchange, the HNX-Index fell 0.90 per cent to end at 101.90 points.
The northern market index was almost unchanged on Monday.
More than 13.9 million shares were traded on the market in the morning session, worth VND186 billion.
The afternoon trading session starts at 1pm.