Global slumps sink Vietnam’s stock markets in bearish sentiment

Stocks on the Ho Chi Minh City Stock Exchange dropped the first time in five days to end week at just above 400 points on August 19 as investors sold shares to lock in gains amid global mass tumble.

Global stock markets experienced the worst trading session since the beginning of this year with most investors fled from the market on concern that the global economic growth is slowing.

The Vietnam’s benchmark VN-Index, which tracks 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange, receded 0.53 percent, or 2.13 points, to close at 400.76 points.

On the trading floor, 56 stocks increased, 162 retreated, while 82 stalled.

Trading on the city bourse lowered by 13 percent in volume and 11 percent in value as around 26.9 million shares changed hands at a value of VND432 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, led the list of most active shares by volume for three consecutive days with 2.03 million shares traded.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, tailed with 1.35 million shares changed hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) dropped to the third rank with 882,950 shares exchanged.

Ho Chi Minh City Metal Corporation (HMC) snapped its thee-day winning, weakening 9.32 percent to close at VND10,700. The company will advance dividends for the first term of this year to its current shareholders in cash a ratio of 10 percent.

Vietnam Golf Tourism Joint Stock Company (VNG) declined for four straight trading sessions, closing down 4.97 percent to VND15,300.

Transport Engineering Construction & Business Investment Joint Stock Company 584 (NTB) dived 4.88 percent to close at VND7,800.

Lu Gia Mechanical Electric Joint Stock Company (LGC) resumed its rising run, rallying 4.93 percent to VND21,300.

Cuu Long Petro Urban Development & Investment Corporation (CCL) regained 4.9 percent to close at VND10,700.

Dong Hai Joint Stock Company of Ben Tre (DHC) reversed 4.88 percent to VND8,600.

The Hanoi’s HNX-Index of the smaller bourse in the north nosedived 1.14 percent, or 0.78 points, to wrap week at 67.53 points. Trading on the northern floor dropped by 13.28 percent in volume and 10.66 percent in value over the previous day as 39.38 million shares changed hands at a value of nearly VND410 billion.

The UPCoM-Index of unlisted shares split 0.26 percent, or 0.08 points, to 31.07 points. A total of 104,240 shares changed hands at a value of VND740 million.

By Da Nguyet

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