Shares shake on global market uncertainty

The benchmark VN-Index on the Ho Chi Minh Stock Exchange increased 0.31 per cent to close at 973.06 points.

The index lost a total of 0.66 per cent last week.

Nearly 60 million shares were traded on the two local exchanges, worth VNĐ1.2 trillion (US$52 million).

Worries about the US-China trade war continued to cast a shadow over global markets.

Investors feared the escalation of the trade war would dampen global trade.

Large-caps saw a wide divergence among stock groups.

PetroVietnam Gas JSC (GAS), Vinhomes (VHM), Vingroup (VIC), Vietjet Air (VJC), Vinamilk (VNM) and Vietcombank (VCB) gained and supported the VN-Index to maintain the upward trend.

Meanwhile, FLC Faros Construction Joint Stock Company (ROS), Military Bank (MBB) and FPT Corportion (FPT) declined, putting great pressure on the general market. In particular, FPT fell 1.9 per cent to VNĐ44,750 per share. ROS decreased 1.7 per cent to VNĐ29,500 per share.

Several oil and gas stocks such as PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroViet Nam Coating JSC (PVB) all fell.

Sectors that increased included banking, real estate, insurance, and food and beverages.

On the negative side, securities, agriculture, logistics, construction and construction materials were among the sectors that reported losses.

The HNX-Index on the Ha Noi Stock Exchange dropped 0.26 per cent to end at 105.12 points.

The afternoon trading session starts at 1pm.