Vietnamese oil rigs on the waters off Ba Ria-Vung Tau Province. The energy sector weighed on the local stock market on Wednesday due to lower oil futures. — VNA/VNS Photo Huy Hung Local shares fell on Wednesday as lower oil futures and increased profit-taking hit major indices. The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 1.34 per cent to close at 857.48 points. The VN-Index had advanced a total of 1.92 per cent in the first two trading days of the week. The minor HNX-Index on the Ha Noi Stock Exchange fell 1.45 per cent to end at 108.89 points. The northern market index stepped down from a three-day growth of 4.49 per cent. More than 454 million shares were traded on the two exchanges, worth VND7.42 trillion (US$318.4 million). The Vietnamese stock market quickly headed down after the VN-Index touched the daily peak of 875 points. Profit-taking escalated and sent stocks, especially large-caps, down in the afternoon session. The large-cap tracker VN30-Index fell 1.67 per cent with 21 of the 30 largest stocks by market value and trading liquidity ending on a negative note. Among the worst decliners were Bank for Investment and Development of Vietnam… Read full this story
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