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VN shares fall with declining oil prices
Vietnamese shares ended mixed on the two local exchanges this morning, following the fall in global oil prices.
The benchmark VN Index on the HCM Stock Exchange inched up 0.1 per cent to close at 606.13 points, while the HNX Index on the Ha Noi Stock Exchange ended almost flat at 81.05 points.
Local transportation companies and importers rose as they were able to reduce input costs after the American benchmark crude West Texas Intermediate (WTI) lost 2.7 per cent overnight to trade at US$41.75 a barrel yesterday.
Therefore, the transportation company index rose 1.9 per cent and the food and drink company index jumped 1.4 per cent.
Giant dairy producer Vinamilk (VNM) rose 2.3 per cent at the end of this morning. It has jumped 6.3 per cent in the last four days. Retailer Vingroup JSC (VIC) was up 0.9 per cent.
Local transport companies such as Gemadept Corporation (GMD) and Superdong Fast Ferry Kien Giang JSC (SKG) rose 0.3 per cent and 1.2 per cent, respectively.
On the negative side, local energy stocks suffered losses following the declining oil prices. PetroVietnam Gas Corporation (GAS) fell 3.6 per cent, while PetroVietnam Drilling and Well Services Corporation (PVD) and PetroVietnam Technical Services Corporation (PVS) dropped 2.4 per cent each.
The two local exchanges traded more than 92 million shares, worth VND1.4 trillion ($62.2 million).
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