Large–cap stocks buoy market against losing pressure

Despite strong selling pressure, Vietnam’s benchmark VN-Index extended its winning streak to eight consecutive trading sessions with support from MSN and BVH stocks on September 6.

The measure of 294 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange edged up 0.1 percent, or 0.43 points, to close at 436.16 points.

Among the benchmark members, 60 advanced, 183 declined, while 48 remained unchanged.

Trading on the city bourse dropped by 21 percent in volume and 12 percent in value over the previous trading session as 41.5 million shares changed hands at a value of VND708 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share in volume for the second day with 3.53 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) followed with 1.99 million shares.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) came next with 1.76 million shares traded.

Binh Duong Mineral & Construction Joint Stock Company (KSB) and Tan Tien Plastic Packaging Joint Stock Company (TTP) both revived the daily maximum allowed limit of 5 percent to VND52,500, and VND25,200 respectively.

Dry Cell and Storage Battery Joint Stock Company (PAC) restored 4.97 percent to close at VND35,900.

Chuong Duong Joint Stock Company (CDC) rose the third day, surging 4.95 percent to VND10,600.

DIC Investment & Trading Joint Stock Company (DIC) and Seaprodex Refrigeration Industry Corporation (SRF) both slashed 5 percent to VND9,500, and VND24,700 respectively.

Everpia Vietnam Joint Stock Company (EVE) sank 4.98 percent to VND30,500.

National Seed Joint Stock Company (NSC), Petro Vietnam Finance Joint Stock Corporation (PVF), and Seafood Joint Stock Company No.4 (TS4) trimmed 4.96 percent to VND32,600, VND13,400, and VND11,500 respectively.

The HNX-Index of the smaller bourse in the north retreated the second day, giving up 1.78 percent, or 1.34 points, to close at 73.77 points. Trading volume fell to nearly 51 million shares worth VND535 billion.

Meanwhile, the UPCoM-Index of unlisted shares plummeted 0.45 percent, or 0.14 points, to 31.24 points. A total of 111,100 shares changed hands at a value of VND601 million at 11:30 am local time.

By Phong Linh

Other news