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VN shares fall further
Vietnamese shares fell on the two local exchanges this morning.
The benchmark VN Index on the HCM Stock Exchange ended at 589.91 points, slightly lower than yesterday, and the HNX Index on the Ha Noi Stock Exchange fell 0.4 per cent to close at 80.4 points.
Local energy stocks fell after the global oil prices dropped further overnight. Petrovietnam Gas Corporation (GAS) and Petrovietnam Mud Drilling Corporation (PVC) remained unchanged, while Petrovietnam Drilling and Well Services (PVD) lost 0.3 per cent.
Yesterday, the State Capital Investment Corporation (SCIC) announced it would sell the entire stake of the state in some stocks such as FPT Corporation (FPT), Vinamilk (VNM) and Binh Minh Plastics Corporation (BMP).
However, these stocks, which were expected to rise, dropped as investors realised it would take a long time before the plan was implemented.
As a result, FPT dropped 0.2 per cent, BMP was down 0.8 per cent and VNM lost 0.9 per cent.
Bank shares also fell from yesterday's values. The Bank for Investment and Development of Vietnam (BID) lost 0.4 per cent and Military Bank (MBB) dropped 0.7 per cent.
Both local exchanges traded 76.6 million shares, worth VND1.14 trillion (US$50.9 million). Saigon-Ha Noi Bank (SHB) was the most active stock this morning, with more than 2.8 million of its shares being traded, gaining 1.5 per cent.
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