Vietnamese shares ended the week on a negative note as strong gains in oil prices were not enough to counter strong selling that weighed heavily on large-cap companies.
Vietnamese shares took off yesterday as oil prices increased and news on annual shareholder meetings and 2019 business plans helped cushion investor confidence amidst a lack of supportive news.
Vietnamese shares declined for a third session on Thursday as the market reversed quickly at the end of the trading session, dragged down by blue chips in the banking and energy sectors.
The positive movement of the Asian stock market bolstered gains of Vietnamese shares during the last trading session of the week.
The VN-Index gained for a fourth straight session on Thursday thanks to large buying power focused on certain large-caps.
Poor market sentiment amid a lack of supportive news drove Việt Nam’s benchmark VN Index down for a second day to near the 900-point level on Wednesday.
Weak market sentiment may continue to weigh on investors, causing stocks to consolidate at current price levels this week, as increasing political and economic risks rattle global markets.
Vietnamese shares joined the global market downturn tumbling in two main stock exchanges on Friday.