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Shares drop on selling pressure
Shares declined on the two national stock exchanges on Monday morning due to strong selling pressure weighing on the indices.
The VN-Index on the Ho Chi Minh Stock Exchange edged down 1.04 per cent to end the morning’s trading at 942.12 points.
On Friday, It fell 0.89 per cent to close at 943.55 points. The index has gained 6.11 per cent in the last month.
On the Ha Noi Stock Exchange, the HNX-Index also fell 0.29 per cent to 106.34 points.
The index was down 0.61 per cent to finish last week at 106.65 points. It has increased 5.57 per cent over the past month.
More than 131 million shares worth a combined VNĐ2.2 trillion (US$93 million) were traded on the two markets.
Banking stocks were most affected with the Bank for Investment and Development (BID), Vietinbank (CTG), HDBank (HDB), Techcombank (TCB) and VPBank (VPB) falling sharply.
Oil stocks were also hit, including PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS), PetroViet Nam Coating JSC (PVB), Viet Nam National Petroleum Group (PLX) and PetroVietnam Gas JSC (GAS).
Afternoon trading starts at 1pm.
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