An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index fell 0.38% to 1,262.57 points Friday while Asian shares fell.
The index closed 4.78 points lower after dropping 1.51 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange decreased by 15% to VND11.417 trillion (US$449.4 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers fell.
PLX of fuel distributor Petrolimex slid 1.8%, MSN of conglomerate Masan Group dropped 1.4%, and HPG of steelmaker Hoa Phat Group went down 1.1%.
Eight blue chips gained. MWG of electronics retail chain Mobile World rose by 1.7%, VIB of Vietnam International Commercial Bank went up 0.8%, and STB of Ho Chi Minh City-based lender Sacombank closed 0.6% higher.
Foreign investors were net seller to the tune of VND24 billion, mainly selling FPT of IT giant FPT Corporation and ACB of Asia Commercial Bank.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.43%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.11%.
Globally, Asian shares dropped on Friday as a lack of details on Chinese stimulus disappointed investors, while the dollar was buoyed by the biggest weekly rise in longer-dated Treasury yields in a year on receding U.S. rate cut expectations for 2025, Reuters reported.
European stocks were mixed shortly after trading opened, while U.S. futures were slightly higher. The pound fell after data showed the British economy contracted in October.
Both China’s blue chip stocks and Hong Kong’s Hang Seng lost more than 2% after the Central Economic Work Conference did not offer details on new stimulus measures.
Europe’s STOXX 600 equity index fell 0.1% on Friday after slipping slightly the previous day. Britain’s FTSE 100 rose 0.14% and Germany’s DAX climbed 0.36%.
