Illustrative image (Source: Internet)
Vietnamese shares were mixed on October 2 as negotiators struggled to finalise a free trade agreement that would span Asia, North and South America.
The benchmark VN Index on the Ho Chi Minh Stock Exchange fell 0.2 percent to close at 562.31 points, ending its two-day winning streak. Meanwhile, the HNX Index on the Hanoi Stock Exchange was up 0.3 percent to finish at 78.25 points, extending its rally for a third day.
Negotiations for the Trans-Pacific Partnership were extended because participants, which include the US, Mexico, Canada and V ietnam among 12 countries, could not reach an agreement over issues such as car parts, dairy products and medical supplies.
Expectations that TPP talks will soon conclude have had a positive effect on local car part makers and distributors so far this week. Among them, TMT Motor JSC (TMT), Saigon General Service Corp (SVC) and the Southern Rubber Industry JSC (CSM) have been the best gainers. These stocks were up 3.1 per cent, 5.4 per cent and 1.7 per cent, respectively, on October 2.
However, local food producers turned from gains the previous day to losses by giving up 0.7 percent. The two giants in the industry – Ma San Group (MSN) and Vinamilk (VNM) – were down 0.7 percent and 1 percent.
In addition, leading sectors such as banks and energy firms also declined.
Hoang Quan Consultancy-Trade-Real Estate Services (HQC) and KLF Joint Venture Global Investment (KLF) were the most active stocks with more than 3.5 million shares in trading volume and both remained flat at the end of the day.
Both local exchanges traded more than 116 million shares in volume and 1.75 trillion VND (77.8 million USD) in value, a decrease of 5.7 percent from the previous day.-VNA
