Blue chips send markets down in early session

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Vietnamese shares fell in the early session as low investor confidence sent blue chips into negative territory.

Local markets ended almost lower in the early session as investor confidence was low following the disappointing US jobs data. — Photo vietnamplus.vn

HA NOI (Biz Hub) — Vietnamese shares fell in the early session as low investor confidence sent blue chips into negative territory.

The benchmark VN Index on the HCM Stock Exchange fell 0.3 per cent to close at 620.07 points and the HNX Index on the Ha Noi Stock Exchange ended nearly flat at 82.70 points.

All the sectors that improved last week saw declines in the early session as investors tried to pick profits in blue chips after the disappointing US job data, which was released on Friday.

Among the property developers and dealers, Hoang Anh Gia Lai JSC (HAG) and An Duong Thao Dien JSC (HAR) dropped 1.2 per cent and 1.8 per cent, respectively.

The other big stocks in the sector, including Vingroup JSC (VIC), Kinh Bac City Development Shareholding Corp (KBC) and Phat Dat Real Estate Development JSC (PDR), also slid in the early session.

Brokerage companies also recorded big losses. HCM City Securities Corp (HCM), Sai Gon Securities Inc (SSI) and VNDirect Securities Corp (VND) slipped between 0.9 per cent and 1.7 per cent each.

The energy sector was pulled down by PetroVietnam Gas Corp (GAS), PetroVietnam Technical Service Corp (PVS) and PetroVietnam Drilling and Well Service Corp (PVD) after oil prices decreased on Friday.

Both local markets traded more than 104 million shares worth VND1.67 trillion (US$74.5 million). — VNS

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