Markets finish week in low note

Vietnam’s benchmark VN-Index sank for the second day to wrap week at two-month low on July 22 as investors lost patience, rushing to sell on speculation that the central bank would adopt tighter credit policy as a hedge against rising inflation.

The measure of 294 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange slumped 0.93 percent, or 3.86 points, to close at 409.2 points.

The gauge eroded 1.34 percent this week, rising this year’s loss to 15.6 percent.

On the index, 79 climbed, 127 shrank, while 93 remained unchanged.

Trading volume on the city bourse slightly rose over the previous trading session as 18.88 million shares changed hands at a value of VND370 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, won the spot of most active share by volume with 1.48 million shares changing hands.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) followed with 505,220 shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, chased after with 455,830 shares traded.

Alphanam Joint Stock Company (ALP) slashed 14.42 percent to VND8,900. The company’s 10 million additional shares were listed on July 12 and officially traded on July 15. These shares were issued from convertible bonds.

House Vietnam Joint Stock Company (NVN), Petrolimex International Trading Joint Stock Company (PIT), and Viky Plastic Joint Stock Company (VKP) all dived 5 percent to VND11,400, VND9,500, and VND1,900 respectively.

Newly listed Hoi An Tourist Service Joint Stock (HOT) ditched 4.96 percent to VND13,400.

Full Power Joint Stock Company (FPC) rebounded 5.26 percent to close at VND2,000. The Ho Chi Minh City Stock Exchange decided to abolish 13,106,292 listing shares of this company on the city bourse since August 11 as the company was running at a loss for three consecutive years. The company’s shares will be listed on the UPCoM market.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) recovered 5 percent to VND6,300.

Petrolimex Gas Joint Stock Company (PGC) restored 4.84 percent to VND6,500.

The Hanoi’s HNX-Index of the smaller in the north submerged 0.66, or 0.47 points, to close at 70.88 points. Trading on the northern market plunged to a record low as only 14.54 million shares changed hands at VND156.54 billion, down by 17 percent in volume and 20 percent in value over the previous trading session.

The UPCoM-Index of unlisted shares stood at 31.92 points. A total of 235,519 shares changed hands at a value of VND1.48 billion as of 1:30 pm local time.

By Yen Oanh

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