Shares extend losses

December 18, 2018 | 15:16

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Shares continued to fall on Tuesday morning due to the uneasy global market and the slump in global oil prices weighing down oil stocks.

More than 124 million shares worth a combined VND2.7 trillion (US$115 million) were traded on the two markets. - VNS Photo

The VN-Index on the Ho Chi Minh Stock Exchange edged down 1.24 per cent to end the morning trading at 922.05 points.

On Monday, It fell 1.93 per cent to end at 933.65 points.

On the Ha Noi Stock Exchange, the HNX-Index also fell 1.11 per cent to 103.84 points.

The index fell 1.54 per cent to 105.01 points on Monday.

More than 124 million shares worth a combined VNĐ2.7 trillion (US$115 million) were traded on the two markets.

According to Reuters, Asian markets were down on Tuesday, contributing to concerns about the global economy that brought Wall Street stocks to their lowest levels in more than a year.

S&P 500 lost 2.08 per cent on Monday, hitting its lowest mark since October 2017. It has lost about $3.4 trillion of market value since late September.

The Nasdaq Composite dropped 2.27 per cent. Despite being one of the best performing shares this year, Amazon lost 4.5 per cent.

Domestic oil stocks were hit hard by the slump of global oil prices.

Globally, Brent crude futures were down 1.2 per cent from the previous session, trading at $58.90 per barrel. It has fallen more than 4 per cent in the last three sessions.

US crude has followed a similar path as Brent, with both losing more than 30 per cent since early October. Inflating global inventories could be to blame.

Laggards in the oil group were 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.

VNA

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