Vietnamese shares sink on global turbulence

January 08, 2020 | 16:02

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Viet Nam’s stock market tumbled on Wednesday morning in line with global markets on increasing investor caution over political turbulence.

vietnamese shares sink on global turbulence

28 of the top 30 shares by market value and liquidity on HCM City’s exchange slumped on Wednesday morning, of which 19 dropped more than 1 per cent.

On the Ho Chi Minh Stock Exchange, the VN-Index plunged from 956 points in mid-morning session to 948 points by the end of the morning trade, down 1.13 per cent from Tuesday’s close.

The HNX-Index on the Ha Noi Stock Exchange dropped 0.8 per cent to 100.6 points.

Early Wednesday, Iranian missiles hit two US air bases in Iraq, sending Asian stocks down and sharply lifting oil prices.

Major Asian stock indices lost between 0.5 per cent and 1.2 per cent in the morning.

In Viet Nam, 28 of the top 30 shares by market value and liquidity on HCM City’s exchange slumped, of which 19 dropped more than 1 per cent. Only one gained and one was unchanged.

Big losers included Vincom Retail, FLC Faros Construction, Novaland Investment, insure Bao Viet Holdings and Phu Nhuan Jewelry with losses of 2-3.7 per cent each.

Trading increased with 203 million shares worth VND4.9 trillion (US$212 million) traded on the two markets.

The afternoon session starts at 1pm.

VNA

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