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VN stocks pull back after two-day rally
Vietnamese shares pulled back this morning on both local markets after a two-day rally, led by large-cap stocks.
The benchmark VN Index on the HCM Stock Exchange fell 0.8 per cent to close at 538.17 points, and the HNX Index on the Ha Noi Stock Exchange lost 1.5 per cent to end at 75.19 points.
Financial firms again pulled down the markets. Insurance firm Bao Viet Holdings (BVH) lost 1.6 per cent, Vietcombank (VCB) dropped 2.4 per cent, and Vietinbank (CTG) was down 0.6 per cent.
Plastic producers were the focus of the market this morning, as they fell sharply following a sharp increase in oil prices recently.
Tien Phong Plastic JSC (NTP) fell three per cent, Binh Minh Plastic JSC (BMP) declined by 2.5 per cent and An Phat Plastic and Green Environment JSC (AAA) slumped 3.2 per cent.
Other large stocks also performed poorly this morning, with dairy firm Vinamilk (VNM) falling 2.5 per cent, and software provider FPT Corporation (FPT) and property developer Vingroup JSC (VIC) losing 2.1 per cent each.
Both local markets traded nearly 121 million shares, worth VND1.35 trillion (US$60.3 million).
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