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VN shares fall further as oil prices slump
Vietnamese shares continued to fall on both local exchanges this morning, as global oil prices dropped further overnight, driving local energy stocks down.
The VN Index on the HCM Stock Exchange dropped 0.1 per cent to close at 590.13 points, and the HNX Index on the Ha Noi Stock Exchange lost 0.2 per cent to stand at 80.47 points.
Local energy firms continued to suffer losses after global oil prices fell further last night. Petrovietnam Gas Corporation (GAS) was down 1.5 per cent, Petrovietnam Drilling and Well Services (PVD) lost 0.8 per cent and Petroleum Technical Services Corporation (PVS) fell 0.9 per cent.
Other large stocks on the market such as Vietcombank (VCB) and Ma San Group (MSN) also fell, putting pressure on the stock market. VCB was down one per cent and MSN fell 0.7 per cent.
Yesterday, the State Capital Investment Company (SCIC) announced it would sell all the stakes it owned in 10 companies, such as Vinamilk (VNM), FPT Corporation (FPT) and Bao Minh Insurance Corporation (BMI).
The shares of these companies gained 2.9 per cent, 3.1 per cent and 6.6 per cent, respectively.
Meanwhile, Bao Viet Holdings (BVH), DHG Pharmaceutical Joint Stock Company (DHG) and Domesco Medical Import Export Joint Stock Corporation (DMC) fell as the SCIC stake in these firms would remain the same.
BVH fell 4.2 per cent, DHG lost 0.7 per cent and DMC was down one per cent, respectively.
Both local exchanges traded nearly 83 million shares, worth VND1.5 trillion (US$66.7 million). FLC Group (FLC) remained the most active stock, with nearly 5.6 million of its shares being exchanged, and remained flat.
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