VN stocks fall on HCM City market

January 16, 2016 | 09:57

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Vietnamese shares fell on the southern market this morning, as most of the blue chips slid further.

The benchmark VN Index on the HCM Stock Exchange lost another 0.4 per cent to close at 551.01 points, while the HNX Index on the Ha Noi Stock Exchange ended almost flat at 75.73 per cent. - VNS Photo Doan Tung

The benchmark VN Index on the HCM Stock Exchange lost another 0.4 per cent to close at 551.01 points, while the HNX Index on the Ha Noi Stock Exchange ended almost flat at 75.73 per cent.

The insurance sector continued to lead the market decline, with Bao Viet Holdings (BVH) falling 1.4 per cent and Bao Minh Insurance Corporation (BMI) losing 2.5 per cent.

Plastic and rubber producers also declined after crude prices rebounded yesterday. The American benchmark crude West Texas Intermediate (WTI) rose 2.4 per cent to trade at US$31.20 a barrel.

Binh Minh Plastic JSC (BMI) slipped 1.6 per cent, Da Nang Rubber JSC (DRC) slid 2.1 per cent, and Rang Dong Plastic JSC (RDP) lost 3.4 per cent.

Other stocks that lost value included food and beverage producer Masan Group (MSN), which was down 0.7 per cent; Vietcombank (VCB), which inched down 0.2 per cent; and the Bank for Investment and Development of Vietnam (BID), which dropped 0.5 per cent.

On the positive side, dairy firm Vinamilk (VNM) rose 0.8 per cent and PetroVietnam Gas Corporation (GAS) added 1.2 per cent to lift the market.

Market liquidity remained low, compared with previous sessions. The stock markets traded more than 67 million shares, worth VND957.8 billion ($42.5 million).

VNS

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