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Petrol news lowers stock
Petrol prices reached their highest ever on morning Thusday, discouraging securities trading in both Vietnamese markets.
By 10am, the official price of petrol was set at VND19,300 a litre, up from the previous price of VND16,400. It is the steepest rise since 2008, when petrol prices jumped from VND4,500 to VND19,000.
The HCM City market's VN-Index fell 1.99 per cent from yesterday's recovery, to finish at 461.29 points.
Volume was 16.8 per cent higher than Wednesday to 43.1 million shares, totalling a value of VND974.4 billion (US$44.9 million).
About 33 listed codes in the market fell, including PetroVietnam Drillings (PVD) and Tu Liem Urban Development Company (NTL) each down 5 per cent, Dong Phu Rubber Company (DPR) down 4.5 per cent, and Cotec Construction Company (CTD) down 4.2 per cent.
Insurer Bao Viet Holdings (BVH) and Masan Group (MSN) suffered the lowest drop amongst blue chips. BVH fell 4.9 per cent and Masan Group (MSN) fell 5 per cent.
Property trader Vincom (VIC) was one of few blue chips to gain points, up 1.9 per cent. While gainers were all mid caps.
On Ha Noi market, HNX-Index slid 1.35 per cent to 95.64 points, with 203 codes trading down trippling the amount up.
Trading continued brisk at 34.8 million shares, worth VND548.6 billion ($25.3 million) in value.
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