VN stocks decline on weak confidence

Wednesday, Sep 11, 2019 12:26

Nam Côn Sơn gas facility of PetroVietnam Gas Corporation (HoSE: GAS). The company shares fell 0.8 per cent on Wednesday morning. — Photo

Vietnamese shares slid Wednesday morning as weak market sentiment continued weighing on local companies amid lack of supporting information.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange fell 0.24 per cent to close at 967.93 points.

The VN-Index had lost total 1.40 per cent in September.

More than 85 million shares were traded on the southern bourse, worth VND2.2 trillion (US$94 million).

According to VNDirect Securities Corp (VNDS), the lack of good news in both domestic and international markets weakened sentiment.

Investors had to run away from local assets while waiting for more positive signals from the market, it said.

The sectors that dragged the stock market down on Wednesday included retail, healthcare and pharmaceuticals, energy and mining, seafood processing and technology.

Mobile World INvesmtent Corp (MWG) and PetroVietnam Gas Corp (GAS) were among the worst decliners in the two sectors.

Food and beverage, rubber and plastics, and building materials sectors cushioned the stock market with positive results.

The HNX-Index on the Ha Noi Stock Exchange lost 0.20 per cent to end at 99.77 points.

The northern market index had tumbled total 2.3 per cent since the beginning of the month.

More than 12 million shares were traded on the northern bourse, worth VND146 billion.

The afternoon trading session starts at 1pm. — VNS

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