Viet­nam in­dex drops 1.1pc on sell­ing in blue-chips

The Financial Daily - - INTERNATIONAL -

HANOI: Viet­nam's bench­mark VN In­dex ended 1.1 per­cent down on Fri­day, a fresh five-month low, due to sell­ing in some blue-chips in­clud­ing en­ergy stocks af­ter OPEC said it would not lower out­put to boost global price.

PetroVi­etNam Gas, Viet­nam's largest listed firm by mar­ket value, closed down 5.49 per­cent, and Petrovi­etnam Drilling & Well Ser­vices Corp fell 6.21 per­cent. Both are sub­sidiaries of state oil and gas group Petrovi­etnam.

A to­tal of 145.68 mil­lion shares changed hands, above the five-day av­er­age of 131 mil­lion shares, push­ing the in­dex down to its low­est since June 23, ac­cord­ing to Reuters data.

Vi­et­com­bank Se­cu­ri­ties and BIDV Se­cu­ri­ties ad­vised clients with a cau­tious view to stop buy­ing as the mar­ket has been fall­ing.

"In­vestors in favour of risks should fo­cus on buy­ing prop­erty, se­cu­ri­ties and con­struc­tion ma­te­rial firms at low prices and should quickly take profit at good prices," BIDV Se­cu­ri­ties said in a note to clients.

The in­dex has lost around 3 per­cent since Tues­day.Agen­cies

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.