VN stocks continue to decline

July 20, 2016 | 17:23

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Vietnamese shares slid further in the early session, led by financial firms and property developers.

Local markets declined in the early session, led by banks and property developers. - VNA Photo

The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange declined by 0.8 per cent each to close at 662.15 points and 85.60 points, respectively.

Seven of the nine listed banks fell, driving down this sector. Vietcombank (VCB) and Sacombank (STB) dropped 2.7 per cent and 2.6 per cent, respectively.

Sai Gon-Ha Noi Bank (SHB), Eximbank (EIB) and Vietinbank (CTG) fell between 1.6 per cent and 1.7 per cent.

Bao Viet Holdings (BVH), Bao Minh Insurance Corp (BMI) and BIDV Insurance Corp (BIC) slipped between 1.6 per cent and 2.2 per cent.

The largest brokerage sector also recorded losses, with the fall of Sai Gon Securities Inc (SSI), Sai Gon-Ha Noi Securities Corp (SHS) and HCM City Securities Corp (HCM).

Property developers Vingroup JSC (VIC) and Dream House Investment Corp (DRH) weighed on the real estate sector. VIC lost 1.9 per cent and DRH plunged 5.5 per cent.

Truong Thanh Furniture Corp (TTF) slumped another 6.9 per cent.

Steel producers such as Hoa Sen Group (HSG), Hoa Phat Group (HPG) and Viet Nam-Italy Steel JSC (VIS) also stayed in negative territory.

Investors traded nearly 100 million shares, worth VND1.45 trillion (US$64.5 million).

VNS

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