VN stocks fall amid continued worries about global trade

16:25 | 08/05/2019
Vietnamese shares declined on Wednesday morning as caution expanded across the market, weighing on large-cap companies.
vn stocks fall amid continued worries about global trade
Vietnamese stocks fell on Wednesday morning as worries about global trade continued weighing on large-cap firms. Photo for illustration.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 0.45 per cent to close at 953.29 points.

The VN-Index had lost a total of 2.25 per cent in the previous four trading days, starting last Thursday.

More than 71.5 million shares were traded on the southern bourse, worth VND1.54 trillion (US$66.2 million).

Worries about the collapse of US-China trade talks this week continued overshadowing global stocks, including Viet Nam.

Meanwhile, the latest trade data from China on Wednesday was much lower than expectations, raising concerns about a possible global recession.

On the Vietnamese market, the large-cap VN30-Index was down 0.28 per cent to 874.54 points.

Two-thirds of the 30 largest stocks by market capitalisation in the VN30 basket declined while only eight increased.

Among the decliners were Vietjet (VJC), Vinhomes (VHM), HDBank (HDB), Techcombank (TCB) and FLC Faros Construction (ROS).

On the Ha Noi Stock Exchange, the HNX-Index dropped 0.49 per cent to end at 105.31 points.

The northern market index gained 0.39 per cent on Tuesday.

More than 20.5 million shares were traded on the Ha Noi market, worth VND222.5 billion.

The afternoon trading session starts at 1pm.


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