Vietnam’s stocks end with mixed results

Vietnamese shares were volatile on July 28 and energy stocks continued to slide on lower oil prices.

The benchmark VN Index on the HCM Stock Exchange struggled to edge up 0.2 percent to close at 657.14 points, extending its gain of 1.3 percent for a second day.

The HNX Index on the Hanoi Stock Exchange retreated 0.2 percent from previous day’s gains to end at 83.52 points.

The oil sector kept weighing on investor confidence, after crude prices extended losing streaks.

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London-traded Brent crude dropped 0.6 percent to trade at USD 43.19 a barrel. Brent has decreased by 14.7 percent within the last month.

US crude West Texas Intermediate (WTI) inched down 0.1 percent to trade at USD 41.89 a barrel. US crude has lost 16 percent during the same period.

Oil firms such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD), and PetroVietnam Coating Corp (PVB) fell between 1.5 percent and 4.1 percent.

Other blue chips such as Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), insurer PVI Holdings (PVI), Saigon-Hanoi Bank (SHB) and insurer Bao Viet Holdings (BVH) also declined.

On the other hand, Vietnam Dairy Products JSC (Vinamilk), steel producers and brokerage firms helped lifted the local market.

Vinamilk (VNM) rose 1.3 percent, steel producer Hoa Phat Group (HPG) jumped 3.2 percent, Hoa Sen Group (HSG) gained 1.3 percent and Tien Len Steel Corp (TLH) added 1.9 percent.

Brokerage firms were among the best-gaining sector, led by Saigon Securities Inc (SSI), HCM City Securities Corp (HCM), VNDirect Securities Corp (VND) and BIDV Securities Inc (BSI).

SSI advanced 2.2 percent, HCM increased by 1 percent, VND was up 2.3 percent and BSI surged 5.1 percent.

The real estate industry was boosted by Vingroup JSC (VIC), Kinh Bac City Development Holding Corp (KBC) and Phat Dat Real Estate Development Corp (PDR).

VIC added 2.9 percent, KBC rose 1.8 percent and PDR moved up 1.6 percent.

Investors remained cautious, resulting in low trading liquidity on both local exchanges. More than 165 million shares were exchanged in total, worth VND 2.95 trillion (USD 131 million), a slight increase from previous day’s trading value.