Business

Vietnam’s stocks end mixed; banks down

Vietnamese shares ended mixed on June 15 as investors remained cautious ahead of the decision to be made by the US central bank on this year's interest rate.
Vietnam’s stocks end mixed; banks down ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - Vietnamese shares ended mixed on June 15 as investors remained cautious ahead of the decision to be made by the US central bank on this year's interest rate.

The benchmark VN Index on the HCM Stock Exchange struggled to rise 0.3 percent, climbing a total 0.6 percent in the last two trading days to 627.02 points.

The HNX Index on the Hanoi Stock Exchange ended slightly down at 84.34 points from a gain of 0.1 percent on June 14.

Vietnam's markets declined along with global stock markets as investors remained worried before the US central bank concludes its meeting, although analysts have predicted that US interest rates will remain unchanged.

Additionally, the Chinese yuan fell to its lowest against the US dollar since January 2011 after the country's equities failed to be admitted into the Morgan Stanley Capital International's indexes.

On June 15, Vietnam's central bank raised its daily reference mid-point rate for local banks' exchange trading band by 10 VND to 21,887 VND for a US dollar to ensure that local products are competitive enough in world markets.

Investors' worries pulled banks and brokerage firms down. Among the banks, Saigon Thuong Tin Commercial Joint Stock Bank (STB) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB) dropped 0.8 percent and 1 percent.

Among securities companies, Bao Viet Securities Corp (BVS) lost 0.8 percent, Saigon-Hanoi Securities Corp (SHS) declined by 1.5 percent, and Saigon Securities Inc (SSI) slipped 1.4 percent.

Additionally, the energy industry continued to slide as oil prices extended losses further. London-traded Brent crude decreased by 1.5 percent to trade at 49.07 USD a barrel, down 6.6 percent in the last five days.

Petroleum Industrial and Civil Construction JSC (PXI), Petroleum Pipeline and Tank Construction JSC (PXT) and PetroVietnam Technical Services Corp (PVS) fell between 0.5 percent and 1.7 percent.

On the positive side, property developers and rubber producers helped drive markets up.

In the real estate business, Kinh Bac City Development Share Holding Corp (KBC) gained 1.4 percent, Tan Tao Investment and Industry Corp (ITA) surged 6.8 percent and Becamex Infrastructure Development JSC (IJC) added 2.3 percent.-VNA

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