VN stocks drop further

January 22, 2016 | 15:33

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Vietnamese shares fell again on both local markets this morning, led by banks, as investors showed low confidence in stocks.

Investor confidence is believed to remain low after global stock markets declined during yesterday's session, pulling down banks.- Photo vov.vn

The benchmark VN Index on the HCM Stock Exchange declined by 1.2 per cent to close at 515.54 points, and the HNX Index on the Ha Noi Stock Exchange inched down 0.2 per cent to end at 72.88 points.

Investor confidence remained low after global stock markets declined during yesterday's session, pulling down banks.

Among local banks, Vietcombank (VCB) was down one per cent, Vietinbank (CTG) fell 3.1 per cent, and the Bank for Investment and Development of Vietnam (BID) slumped 6.3 per cent.

The food and beverage sector and the agricultural sector also helped to pull down markets. Dairy firm Vinamilk (VNM) lost 1.7 per cent, food and beverage producer Masan Group (MSN) dropped 0.7 per cent, and agricultural company Hoang Anh Gia Lai JSC (HAG) fell six per cent.

Meanwhile, energy stocks rose as global oil prices bounced back from 12-year lows. PetroVietnam Gas Corporation (GAS) gained one per cent and PetroVietnam Drilling and Well Services Corporation (PVD) increased by 2.7 per cent.

The stock markets traded nearly 118 million shares, worth VND1.3 trillion (US$58 million).

VNS

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