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VN stocks fall ahead of Fed meeting
Vietnamese shares bounced back slightly on both local markets this morning due to low investor confidence, as investors waited for the outcome of the American central bank's meeting.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent each to close at 574.74 points and 79.74 points, respectively.
Investor confidence was low ahead of the American central bank's final decision because of expectations that it would maintain the current interest rates tonight.
Property developers and brokerage firms pulled down the markets.
Among these stocks, Sai Gon-Ha Noi Securities Corporation (SHS) lost 1.4 per cent, Sai Gon Securities Incorporation (SSI) fell 0.9 per cent, Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC) dropped 1.6 per cent, and Vingroup JSC (VIC) was down 0.7 per cent.
Additionally, energy stocks continued to fall after oil prices slid further during yesterday's trading session.
American benchmark crude West Texas Intermediate (WTI) fell 2.3 per cent to close Tuesday's trading at US$36.34 a barrel.
Among local energy stocks, PetroVietnam Drilling and Well Service Corporation (PVD) fell 0.4 per cent, while PetroVietnam Coating Corporation (PVB) and PetroVietnam Mud Drilling Corporation (PVC) lost 1.3 per cent and 1.4 per cent, respectively.
Both local markets traded more than 95 million shares, worth VND1.34 trillion ($59.8 million).
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