VN-Index falls below 900-point mark

By Thien Ngan   December 25, 2018 | 03:03 pm GMT+7
VN-Index falls below 900-point mark
Vietnam's benchmark has fallen by 22 points. Photo by Reuters/Jason Lee
Vietnam’s benchmark VN-Index on the Ho Chi Minh Stock Exchange went down 22 points and below the 900 mark in Tuesday’s morning session.

It ended the morning at 886.2 points, down 22 points, or 2.42 percent, from the earlier session.

The HNX-Index on the Hanoi Stock Exchange and the UPCoM-Index for unlisted public companies fell by almost 2 points and 1.15 points respectively.

Total market capitalization of the three exchanges at the end of the morning session was VND3.7 trillion ($159.23 million).

On the Ho Chi Minh Stock Exchange, 28 out of 30 largest stocks in the terms of capitalization, known as the VN30-Index, fell by 0.8-3 percent.

Leading state-owned energy company PetroVietnam Gas led the fall with its GAS stock falling 5.3 percent, or VND4,700 (20 cents) from Monday’s close. Only construction firm FLC Faros (ROS) and real estate firm Novaland (NVL) rose.

The fall had been forecast by several securities companies, which said that the VN-Index could drop below the 900-point mark as investors are not willing to spend big on stocks as the holiday season approaches.

Securities companies advised investors to hold on to low value stocks and wait for positive movements before selling.

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