Shares adjust following trade war escalation

13:32 | 14/05/2019
Shares lost ground on Tuesday morning as the negative movements of global stocks affected investor sentiment.
shares adjust following trade war escalation
More than 75.7 million shares were traded on the southern bourse, worth VND1.39 trillion (US$59.5 million). -- Photo tin247.vn

The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 0.09 per cent to end at 957.65 points.

More than 75.7 million shares were traded on the southern bourse, worth VND1.39 trillion (US$59.5 million).

The index inched up 0.63 per cent to end Monday at 958.54 points.

The VN-Index in the morning adjusted due to the negative sentiment of investors over the strong slump of the US market during Monday’s overnight trade.

On Monday, the Dow Jones Industrial Average fell 2.38 per cent to 25,324.99, the S&P 500 lost 2.41 per cent to 2,811.87 and the Nasdaq Composite dropped 3.41 per cent to 7,647.02.

China on Monday announced it would put higher tariffs on $60 billion of US goods after Washington’s decision last week to hike its own levies on $200 billion in Chinese imports. China’s response put pressure on US shares.

The large-cap VN30-Index slumped 0.32 per cent to stand at 876.84 points with 18 stocks dropping out of the 30 largest by market capitalisation.

Decliners in VN30-basket included insurer Bảo Việt Holdings (BVH), dairy firm Vinamilk (VNM), Bank for Investment and Development (BID) and budget carrier Vietjet Air (VJC).

Real estate, securities, banking, construction and agriculture were among the worst-performing industries.

Their indices rose between 0.01 per cent and 0.97 per cent, data on vietstock.vn showed.

On the opposite side, food and beverage, insurance and construction materials were among the gainers.

On the Ha Noi Stock Exchange, the HNX-Index decreased by 0.41 per cent to close at 105.18 points.

Around 16.6 million shares were traded on the northern bourse, worth VND226 billion.

The afternoon trading session starts at 1pm.

VNA

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