Trading activities at BIDV Securities Corp. (Photo: VNA) Hanoi (VNA) - Vietnamese shares on July 19 retreated from previous day ’s gains as individual companies declined on bad news in their business activities and lower oil prices extended losses for a second day.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Hanoi Stock Exchange dropped 0.9 percent each to finish at 667.76 points and 86.25 points, respectively.
Vietnam Import-Export Commercial Joint Stock Bank (EIB) declined by 2.4 percent from a four-day surge of nearly 14 percent after it proposed shareholders approve the target net profit of 400 billion VND (17.8 million USD ) for 2016. This figure is nearly half that previously expected, which was 720 billion VND.
Two other large-cap banks, which are the Bank for Investment and Development of Vietnam (BID) and S a i go n Th uo ng T i n Commercial Joint Stock Bank (STB), also recorded losses after recent gains.
BID slumped 3.2 percent after it had risen 5.7 percent in total during the previous four sessions and STB plunged 4.1 percent after a four-day increase of 8 percent.
Real estate and retail corporation Vingroup JSC (VIC) also weighed on local markets as it fell 3.7 percent after the company announced its subsidiary had suspended the loan swap of 1.2 trillion VND with furniture firm Tr uo ng Th a nh Furniture Corp (TTF).
TTF on July 19 plunged 6.7 percent. The furniture firm had soared nearly 19 percent during the previous four trading days.
Oil stocks on July 19 pulled back after crude extended a two-day decrease on global trading.
US crude West Texas Intermediate (WTI) was being traded at 45.08 USD a barrel, down 0.4 percent from previous day and 1.9 percent from July 15 .
London-traded Brent crude slid 0.5 percent to trade at 46.74 USD a barrel, totaling a two-session decrease of 1.8 percent.
Local oil stocks such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Coating Corp (PVB) slipped between 1 percent and 2.4 percent.
On the opposite side, Vietnam Dairy Products JSC (VNM) added another 2 percent to hit a new high of 153,000 VND since it began listing in late January 2006.
Two large-cap financial stocks, Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB) and insurance firm B a o Vi e t Holdings (BVH), also made gains.
Investors traded more than 192.6 million shares worth 3.57 trillion VND, an increase of nearly 16 percent in trading value from the previous session.-VNA
