VN shares remain negative on low confidence, caution

Vietnamese shares fell on Monday morning, dragged by large-cap stocks on poor market sentiment.

The benchmark VN-Index on the HCM Stock Exchange lost 1.13 per cent to close at 959.10 points.

The southern market index lost 3.8 per cent last week.

The HNX Index on the Ha Noi Stock Exchange declined by 0.94 per cent to end at 108.72 points.

The northern market index dropped total 4.28 per cent last week.

More than 95.4 million shares were traded on the two local exchanges, worth VND2 trillion (US$89.5 million).

Market sentiment remained poor and investors were cautious after the stock market was rocked by a global sell-off last Thursday.

Large-cap stocks extended declines with the blue chip VN30 Index losing 1.09 per cent to 933.17 points.

In the VN30 basket, 27 of the 30 largest stocks by market capitalisation ended in negative territory while only two advanced.

The worst decliners were FLC Faros Construction (ROS), PetroVietnam Gas (GAS), Phu Nhuan Jewellery JSC (PNJ), steel producer Hoa Sen (HSG) and dairy firm Vinamilk (VNM).

On a sector basis, 16 of the 20 sectors saw stocks decline, including financial-banking, petroleum, food and beverage, and retail.

The afternoon trading session starts at 1pm. 

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