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VN stocks pull back
Vietnamese shares pulled back from Friday's gains this morning, as investors sought profits in bank stocks.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange fell 0.4 per cent each to close at 564.10 points and 78.74 points, respectively.
Investors tried to lock in profits in bank stocks after banks gained last week. All nine listed banks on both local exchanges fell.
Among these banks, Vietcombank (VCB) dropped one per cent, the Bank for Investment and Development of Vietnam (BID) and Vietinbank (CTG) were down 2.2 per cent each, and Military Bank (MBB) plunged 1.4 per cent.
Other declining large-cap stocks included Masan Group (MSN), which fell 1.4 per cent, and Vinamilk (VNM), which was down 0.8 per cent.
However, improving oil prices helped to lift local energy stocks. London-traded Brent crude rose 1.2 per cent to trade at US$35.51 a barrel and American benchmark West Texas Intermediate (WTI) gained 0.6 per cent to trade at $32.96 a barrel.
Among energy stocks, PetroVietnam Gas Corporation (GAS) was up 1.4 per cent, and PetroVietnam Drilling and Well Service Corporation (PVD) increased by two per cent.
Investors traded more than 102 million shares, worth VND1.38 trillion ($61 million).
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