Vietnamese shares retreated on the two local markets on Monday morning as blue chips suffered from investors’ selling.

The benchmark VN Index on the HCM Stock Exchange inched down 0.1 per cent to close at 719.17 points. It fell 0.3 per cent on Friday.

The HNX Index on the Ha Noi Stock Exchange dropped 0.5 per cent to end at 89.29 points, reversing Friday's gain of 0.2 per cent.

More than 146.9 million shares were traded on the two local bourses, worth VND2.8 trillion (US$124.7 million).

The stock market was pushed down by large-cap stocks on both local bourses, which witnessed profit taking after having risen sharply last week.

The main losers included FLC Faros Construction (ROS), Sacombank (STB), Thanh Thanh Cong Tay Ninh Sugar (STB) and Hoang Anh Gia Lai (HAG), as well as Tien Phong Plastic (NTP) and Sai Gon-Ha Noi Bank (SHB).

These stocks decreased by 1.7, 2.1, 2.5 and 4.9, as well as 1.1 and 2.7 per cent, respectively.

On the opposite side, energy stocks recovered after oil prices bounced back on expectations that the production cut deal between OPEC and Russia would be extended to 2018.

The afternoon session starts at 1pm. — VNS