Bear returns to stock markets

Vietnam’s benchmark VN-Index tumbled on April 26 as investors reduced holdings to take profits after a sharp rise the previous day amid concerns over escalating inflation.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange stripped 0.81 percent, or 3.76 points, to close at 461.86 points.

Among the index members, 57 advanced, 178 declined, while 54 remained unchanged.

Trading on the city bourse slightly improved by 8 percent in volume and 21 percent in value over the previous trading session as nearly 28.3 million shares changed hands at a value of VND685 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share in volume with 1.56 million shares changing hands.

Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) came next with 794,920 shares, followed by Sai Gon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) with 710,410 shares.

Dong Thap Trading Corporation (FDG), which slumped 18.26 percent to VND19,700, was the biggest loser on the city bourse. The company will pay dividends to its current shareholders in cash at a ratio of 35 percent since May 19.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) slashed 16.26 percent to VND10,300. The company will pay dividends to its current shareholders in cash at a ratio of 15 percent.

Vinaship Joint Stock Company (VNA) resumed its three-day losing streak, giving up 13.73 percent to VND8,800.

Chang Yih Ceramic Joint Stock Company (CYC) was the biggest gainer which jumped 5 percent to VND4,200.

Techno - Agricultural Supplying Joint Stock Company (TSC) rebounded 4.96 percent to VND14,800.

Hoa Binh Construction & Real Estate Corporation (HBC) revived 4.95 percent to VND31,800.

The Hanoi’s HNX-Index of the smaller in the north collapsed 1.79 percent, or 1.53 points, to close at 83.74 points. Trading volume slightly dropped over the previous trading session as more than 29.6 million shares worth VND396.97 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares inched up 0.26 points to 36.32 points this morning. Trading volume reached 1.13 million shares worth VND5.09 billion.

By Ngoc Giao

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