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Stocks fall on both bourses
Vietnamese shares declined on both bourses this morning after investment fund Market Vector VNM ETF declined to buy more BIDV shares (BID).
On the HCM Stock Exchange, the benchmark VN Index fell 0.18 per cent to close at 562.25 points.
The HNX Index on the Ha Noi Stock Exchange finished at 76.48 points, a decrease of 0.2 per cent.
Yesterday, investment fund Market Vector VNM ETF announced that the fund would not buy more BID shares as it had planned last week.
That made BID lose 6.7 per cent and became less attractive to investors, with only 126,040 of its shares being traded. Yesterday, more than 9.1 million BID shares were exchanged on the market.
Energy firms helped the market gain in the early session. Petrovietnam Gas Corp (GAS) was up 1.09 per cent, while Petrovietnam Drilling and Well Services (PVD) added 0.58 per cent.
Other large companies also made good gains to raise the market. Ma San Group (MSN) gained 2.04 per cent, Vietcombank (VCB) rose 1.17 per cent and Bao Viet Holdings (BVH) climbed 0.45 per cent.
However, the early gains were erased by the weak demand during the session. Both the HCM Stock Exchange and the Ha Noi Stock Exchange traded 54 million shares, worth VND800 billion (US$35.6 million).
Hoang Anh Gia Lai Group (HAG) led the trading with more than 2.3 million of its shares being exchanged. HAG gained 4.08 per cent at the end of this morning.
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