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Large-cap stocks pull down VN shares
Vietnamese shares fell on both local exchanges this morning, led by large-cap stocks, after ending mixed on Friday.
The benchmark VN Index on the HCM Stock Exchange dropped 0.7 per cent to end at 567.62 points, and the HNX Index on the Ha Noi Stock
Exchange inched down 0.2 per cent to close at 79.97 points.
The largest financial firms such as Vietcombank (VCB), the Bank for Investment and Development of Vietnam (BID) and Bao Viet Holdings (BVH) declined on forex rate pressure, ahead of the American central bank's meeting next week.
At the end of this morning, VCB fell 2.6 per cent, BID was down 0.5 per cent and BVH lost 1.8 per cent.
Meanwhile, energy firms declined after the Organisation of Petroleum Exporting Countries (OPEC) on Friday decided to maintain its current production output to secure market shares, pulling down global oil prices.
The American benchmark crude West Texas Intermediate (WTI) fell 2.7 to trade at US$39.97 a barrel and the Euro-based crude Brent lost 1.8 per cent to trade at $43.05 per barrel.
The largest energy stocks, including PetroVietnam Gas Corporation
(GAS) and PetroVietnam Drilling and Well Services Corporation (PVD), fell further from their Friday values.
GAS lost two per cent this morning and PVD dropped 2.3 per cent.
Both local bourses exchanged more than 55 million shares, worth VND864 billion ($38.4 million).
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