HANOI: Vietnamese shares fell on both local exchanges yesterday as energy stocks weighed on the markets and as oil prices continued to fall. The benchmark VN Index on the HCM Stock Exchange retreated 0.7 per cent to close at 574.04 points, ending a rally of 1.1 per cent over the previous three sessions.
The HNX Index on the Hà Nội Stock Exchange dropped 0.5 per cent to finish at 79.63 points, extending its decline of 0.5 per cent for a second day. Local energy stocks declined as oil slid for a second day after Iran appeared unlikely to join a coalition led by Russia and Saudi Arabia on a production freeze to bolster prices until the country restores its pre-sanction oil output level.
US benchmark crude West Texas Intermediate (WTI) yesterday lost 2.7 per cent to trade a US$36.18 a barrel, and London-traded Brent crude declined by 2.8 per cent to trade at $38.43 a barrel.
