VN shares gain slower on trade worries

Tuesday, Dec 04, 2018 12:40

Shares slowed their gains on the Ho Chi Minh Stock Exchange on Tuesday morning amidst worries about the strength of the US-China trade agreement that was struck on Saturday. — Photo

Shares edged up on the Ho Chi Minh bourse on Tuesday morning as selling appeared on worries about the possibility of a short-lived trade tension ceasefire.

The benchmark VN Index on the Ho Chi Minh Stock Exchange inched up 0.11 per cent to close at 952.64 points.

The southern market index gained 2.70 per cent on Monday, rising as much as 0.70 per cent during the morning session.

The HNX Index on the Ha Noi Stock Exchange fell 0.47 per cent to end at 107.14 points.

The northern market index advanced 2.69 per cent in the first trading day of the week.

Local stocks were pulled down from their daily highs as investors were skeptical about the long-term potential of the agreement to ease trade tensions between China and the US, which was reached on Saturday.

The latest news on Monday showed officials of the two governments had opposite opinions about the agreement.

Despite the market gains, the two local exchanges were dominated by declining stocks that outnumbered gainers 214 to 172.

Trading liquidity remained modest with more than 109 million shares being traded on the two exchanges, worth VND2.25 trillion (US$100 million).

The afternoon trading session starts at 1pm. — VNS

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