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Poor sentiment weighs on VN stocks
Vietnamese shares extended losses on Wednesday morning, with low trading liquidity due to low market sentiment as investors seemed to be waiting for supportive information on international markets.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange decreased 0.19 per cent to close at 970.18 points.
Nearly 71 million shares were traded on the southern exchange, worth VNĐ1.5 trillion (US$66 million).
The index decreased by 0.32 per cent to close Tuesday at 972.00 points.
The HNX-Index on the Ha Noi Stock Exchange lost 0.24 per cent to end at 104.77 points.
Over 15 million shares were traded on the northern exchange, worth VNĐ165 billion.
The index inched down 0.01 per cent to end Tuesday at 105.03 points.
At present, investors seem to be waiting for new developments in the ongoing trade tensions between the US and China, as well as new signs in the world's stock markets.
Wall Street on Tuesday saw an increase early in the session and then a decline as investors were cautious about the possibility that the US-China trade war would become worse.
Dow Jones decreased by 237.32 points, or 0.93 per cent, to 25,348.37 points. The S&P 500 lost by 23.91 points, equivalent to 0.85 per cent, down to 2,802.15 points. Nasdaq fell 29.66 points, or 0.39 per cent, to 7,607.35 points.
On the local market, many blue chips fell this morning, such as Mobile World Group (MWG), Phú Nhuận Jewellery (PNJ), Vincom Retail (VRE), Vietjet Air (VJC), PetroVietnam Power Corporation (POW), FPT Group (FPT) and Masan Group (MSN).
Some oil and gas stocks such as PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroViet Nam Coating JSC (PVB) all fell.
On a sector basis, sectors that increased included real estate, insurance and construction materials.
On the negative side, oil and gas, banking, food and beverages, securities, agriculture, logistics and construction were among the sectors that reported losses.
The afternoon trading session starts at 1pm.
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