An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index fell 0.41% to 1,281.08 points Tuesday, lowest since Oct. 8, while Asian markets experienced a slight drop.
The index closed 5.26 points lower after dropping 2.05 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange decreased by 9% to VND16.63 trillion (US$667 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers fell.
PLX of fuel distributor Petrolimex dropped 3.6%, followed by VRE of retail real estate arm Vincom Retail with a 1.8% decline.
POW of electricity producer Petrovietnam Power Corporation fell 1.6% and GVR of Vietnam Rubber Group went down 1.5% lower.
Eight blue chips gained. MWG of electronics retail chain Mobile World led with a 1.3% growth, followed by BID of state-owned lender BIDV, up 1.2%.
Foreign investors were net sellers to the tune of VND574 billion, mainly selling KDC of food producer KIDO Group and FPT of IT giant FPT Corporation.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.76%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.23%.
Asian stocks edged lower on Tuesday, contrasting with a strong Wall Street close and investor optimism about corporate earnings, while the dollar held near a two-month top, aided by bets on a smaller U.S. rate cut next month, Reuters reported.
The Nikkei rallied more than 1% to a three-month peak, having been closed on Monday for a holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.26% as gains in Taiwan and Australia were overshadowed by a drop in Chinese markets.
China’s blue chips fell 1.08%, while Hong Kong’s Hang Seng index slid nearly 2% as a lack of new stimulus details from Beijing left investors wanting for more.
Overnight, the S&P 500 and Dow roared to record high closes, led by chip stocks after a 2.4% jump in AI darling Nvidia and a brisk start to the third-quarter earnings season with beats by JP Morgan Wells Fargo.
