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VN stocks mixed, energy stocks still pressuring markets
Vietnamese shares almost fell this morning after the two local indices were unable to maintain their positive trends during the morning session.
The benchmark VN Index inched down 0.2 per cent to close at 573.76 points, while the HNX Index added 0.2 per cent to end at 79.31 points.
Energy stocks remained the most decisive factor that dragged the markets down as oil prices declined on Tuesday's session.
US benchmark crude West Texas Intermediate (WTI) yesterday dropped 4.3 per cent to close at US$35.25 per barrel, and London-traded Brent crude fell 3.5 per cent to close at $39.42 per barrel.
Among the local energy stocks, PetroVietnam Gas Corporation (GAS) declined by 1.9 per cent, PetroVietnam Coating Corporation (PVB) was down 2.1 per cent, and PetroVietnam Mud Drilling Corporation (PVC) dropped 2.7 per cent.
In addition, insurance companies also declined: Bao Viet Holdings (BVH), Bao Minh Insurance Corporation (BMI) and BIDV Insurance Corporation (BIC) lost 1 per cent, 1.2 per cent and 0.5 per cent, respectively.
On the opposite side, banks and property developers lifted the markets. The Asia Commercial Bank (ACB) and property firm FLC Group (FLC) rose 1.5 per cent each, and Vingroup JSC (VIC) gained 0.4 per cent.
Both local markets traded nearly 99 million shares worth VND1.34 trillion ($60 million).
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