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Vietnamese shares tumble on low liquidity
Vietnamese shares tumbled this morning on low liquidity following investors' growing caution after two days of losses.
The VN-Index on the southern bourse lost 0.3 per cent to close at 617.33 points, while the HNX-Index on the northern bourse slid by 0.4 per cent to 81.48 points.
Oil stocks saw slight gains this morning with PetroVietnam (GAS) and PetroVietnam Drilling (PVD) rising by 0.9 per cent and 2.4 per cent, respectively, although global oil prices had dropped on Thursday on worries about supply from Canada and Nigeria.
However, losses in large-cap stocks, such as Vietcombank (VCB), Masan Group (MSN), BIDV (BID) and Hoa Phat Group (HPG), dragged the benchmark index down in this morning's trading session.
Both national stock exchanges saw low trading volumes and values as investors were cautious after the benchmark indices saw losses for the second day on Thursday.
On the HCM Stock Exchange, only 59 million shares were traded with a total value of VND1.44 trillion (US$64.3 million).
In the capital city, the trading volume was modest at VND213 million with the exchange of 18.6 million shares.
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