VN stocks fall on US-China trade news

14:42 | 02/08/2019
Vietnamese shares dipped on Friday morning after global markets tumbled following the US president’s latest announcement on imposing more tariffs on Chinese goods.
vn stocks fall on us china trade news
An investor watches stocks being traded on his cellphone. Vietnamese shares, along with global stocks, fell following escalation of US-China trade tensions.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 0.70 per cent to close at 990.45 points.

The VN-Index in the previous two trading days had gained a total of 1.15 per cent.

The HNX-Index on the Ha Noi Stock Exchange fell 0.34 per cent to end at 103.53 points.

The northern market index lost 0.52 per cent on Thursday.

The market sentiment dampened after US president Donald Trump tweeted on his Twitter account that his administration would slap a 10 per cent tariff on $300 billion worth of Chinese goods.

The latest announcement increased tensions between the world's two largest economies amid a gloomy outlook for global economic growth, bringing down international financial markets.

In Viet Nam, worried investors became more cautious, pulling trading liquidity down on the two local exchanges.

More than 118 million shares were traded on Friday morning, worth VND2.35 trillion (US$101.2 million).

Dragging the market down were real estate, securities, retail, agriculture, seafood processing and energy sectors, data on showed.

Large-cap stocks underperformed, pulling the VN30-Index down 0.40 per cent to 883.80 points, with 24 of the 30 largest stocks by market value and trading liquidity declining.

The afternoon trading session starts at 1pm.


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