Markets take a hit as oil prices slide

Tuesday, Dec 09, 2014 16:07

People walk on a bridge with a board showing the numbers of stock exchange rates in the Lujiazui Financial District of Shanghai on Nov 25, 2014. The Shanghai Composite Index which tracks all the tickers trading on the Shanghai Stock Exchange fell 5.4%, the biggest one-day percentage fall since August 2009, to 2,856.27 points - Photo

HA NOI (Biz Hub) — Chinese and Vietnamese stocks suffered heavy losses on December 9, as the oil prices fell to fresh five-year lows.

The other markets shared the same fate.

At the end of the day, the VN-Index lost 16.37 points or nearly three per cent to sink to its six-month low of 555.31, while the HNX also lost 3.32 points, or more than three per cent, to close at 83.85.

Affected by the world oil prices, local blue chip codes of the oil and gas industry such as GAS, PVD, PVS, PXS and PVC also suffered losses.

The Shanghai Composite Index fared worse. It lost 5.4 per cent or 163.99 points to end the day at 2,856.27 in mainland China, its lowest level since August 2009.

The Hang Seng Index fell 561.84 points to close at 23,485.83 in Hong Kong. In Japan, the Nikkei 225 dropped 122.26 points to close at 17,813.38, and the Topix Index declined by 11.49 points to end at 1,436.09.

However, the Straits Times Index was an exception, gaining 14.0 points to end at 3,311.84 in Singapore. — VNS

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