Vietnam stocks close week in red as global stocks gain

The index closed 7.50 points lower after dropping 9.74 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 41% to VND13.734 trillion (US$554.4 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers fell.

VNM of dairy giant Vinamilk saw the biggest drop of 2.6%, followed by STB of Ho Chi Minh City-based lender Sacombank with a 1.93% decline and VRE of retail real estate arm Vincom Retail, down 1.88%.

Five blue chips gained. PLX of fuel distributor Petrolimex went up 1.6%, POW of electricity producer Petrovietnam Power Corporation rose by 1.2%, and GAS of state-owned Petrovietnam Gas closed 1.1% higher.

Foreign investors were net seller to the tune of VND573 billion, mainly selling VHM of property giant Vinhomes and VNM.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.29%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.30%.

Global stocks rose on Friday while oil prices were headed for their biggest weekly gain in two years, as escalating tensions in the Middle East kept markets on edge, Reuters reported.

The MSCI All-World index was up 0.1%, while Europe's STOXX 600 rose 0.2%.

Japan's Nikkei, which rose 0.2% on Friday, was set for a weekly loss of about 3%.