VN stocks mixed as oil prices slip

Saturday, Mar 26, 2016 09:00

nvestors on SSI's exchange floor. Energy stocks yesterday continued to drive markets down on decreasing oil prices. — VNS Photo Đon Tùng

HA NOI (Biz Hub) — Vietnamese shares yesterday were mixed on the two local markets, while energy stocks continued to drag markets down as oil prices dropped.

The benchmark VN Index on the HCM Stock Exchange bounced 0.3 per cent from Thursday to close at 572.08 points. The southern index has dropped 0.6 per cent from the previous week.

The HNX Index on the Ha Noi Stock Exchange dropped 0.6 per cent to finish at 79.73 points, extending a two-day loss of 1 per cent. The northern index fell 1.1 per cent during the week.

The energy sector fell for a second day as global oil prices slid further. US benchmark West Texas Intermediate (WTI) dropped 0.8 per cent to trade at US$39.46 a barrel, and London-traded Brent crude inched down 0.1 per cent to trade at $40.44 a barrel.

Among energy stocks, PetroVietnam Drilling and Well Service Corporation (PVD) lost 2 per cent, and PetroVietnam Coating Corporation (PVB) and PetroVietnam Technical Service Corporation (PVS) were down 1.3 per cent and 1.8 per cent, respectively.

Brokerage firms also pulled markets down. The two biggest stocks, Sai Gon Securities Incorporation (SSI) and HCM City Securities Corporation (HCM), declined by 0.9 per cent and 1.9 per cent, while Sai Gon-Ha Noi Securities Corporation (SHS) and VNDirect Securities Corporation (VND) lost 1.5 per cent and 1.8 per cent.

Other big listed companies such as dairy firm Vinamilk (VNM), software producer FPT Corporation (FPT) and Hoang Anh Gia Lai Agricultural JSC (HNG) also weighed on the markets.

VNM decreased by 0.7 per cent after rising 1.5 per cent in the two previous days, while FPT dropped 1 per cent and HNG was down 1.1 per cent.

However, banks and property developers lifted the national stock market, led by Vietcombank (VCB), the Bank for Investment and Development of Viet Nam (BID) and property developer Vingroup JSC (VIC). They rose 1.7 per cent, 0.6 per cent and 1.6 per cent, respectively.

Market liquidity yesterday remained high. Both local exchanges traded more than 219 million shares worth VND3 trillion ($133.6 million), a decrease of 7.2 per cent from Thursday's trading value. — VNS

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