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VN shares cut gains this morning
Vietnamese shares fell on the two local exchanges this morning, ending a three-day rally, as energy firms declined following the drop in global oil prices last night.
The VN Index on the HCM Stock Exchange fell 0.5 per cent to stand at 589.01 points, and the HNX Index on the Ha Noi Stock Exchange lost 0.2 per cent to close at 80.73 points.
None of the energy firms made gains this morning after Brent crude fell 5.3 per cent yesterday, the largest loss in about six weeks, and American benchmark crude West Texas Intermediate (WTI) dropped 5.1 per cent.
Among those firms, Petrovietnam Gas Corporation (GAS), Petrovietnam Drilling and Well Services (PVD) and Petrovietnam Coating Company (PVB) lost the maximum, dropping two per cent, 2.3 per cent and 2.6 per cent, respectively.
Other leading sectors such as banks and insurance companies also had a bad early trading session as only one stock advanced in each of the two sectors.
The largest banks and insurers declined, thus dragging the market down. Vietcombank (VCB) was down 0.8 per cent, while Bao Viet Holdings (BVH) decreased by 2.5 per cent.
FLC Group (FLC) remained the most active stock on the market, with nearly 6.5 million of its shares being traded, but fell 2.7 per cent.
The two local exchanges traded nearly 93 million shares this morning, worth VND1.38 trillion (US$61.6 million).
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