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Banks, insurance firms drag down market
Vietnamese shares fell slightly this morning after a two-day rise last week, following the fall of banks and insurers.
The benchmark VN Index on the HCM Stock Exchange inched down 0.5 per cent to close at 608.27 points, and the HNX Index was down 0.6 per cent to end at 81.07 points.
The banking sector and insurer sector indices lost one per cent and 1.4 per cent, respectively.
Seven of the nine listed banks fell from their Friday values. Vietcombank (VCB) lost 1.1 per cent, the Bank for Investment and Development of Vietnam (BID) inched down 0.8 per cent and Sai Gon Ha Noi Bank (SHB) dropped 1.5 per cent.
Among insurance companies, Bao Viet Holdings (BVH) slid by 1.7 per cent, Bao Minh Insurance Corporation (BMI) was down 1.1 per cent and Viet Nam National Reinsurance Corporation (VNR) lost 4.4 per cent.
In addition, the real-estate developer index fell 1.2 per cent this morning.
Among the largest stocks, Vingroup JSC (VIC) and Tan Tao Investment Industrial JSC (ITA) fell 1.6 per cent.
Property developer FLC Group (FLC) was the most active stock this morning, with more than 10.2 million of its shares being traded, gaining 1.2 per cent.
Both local exchanges traded nearly 99.5 million shares, worth VND1.84 trillion (US$81.7 million).
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