Markets flooded in red; liquidity suddenly improved

Vietnam’s benchmark VN-Index nosedived on September 29 as investors dumped shares heavily to avert risks amid a slump in global market.

The measure of 296 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange plummeted 1.36 percent, or 5.89 points, to close at 428.08 points.

On the benchmark, 60 stocks increased, 165 dropped, while 76 remained unchanged.

Trading volume on the city bourse more than doubled that of the previous day as 85.2 million shares changed hands at a total value of VND1.26 trillion, up 95 percent.

Becamex Infrastructure Development Joint Stock Company (IJC) was the most active share by volume with 9.02 million shares changing hands.

IDICO - Petroleum Trading Construction Investment Joint Stock Company (PXL) followed with 3.37 million shares traded.

PetroVietnam Transportation Corporation (PVT) came next with 3.2 million shares.

Viky Plastic Joint Stock Company (VKP) tumbled 6.25 percent to VND1,500.

Other losers on the southern trading floor included Transport Engineering Construction & Business Investment Joint Stock Company 584 (NTB), Saigon Tourist Transport Corporation (STT), Electronics Communications Technology Investment Development Corporation (ELC), and Basa Joint Stock Company (BAS). They all fell 5 percent to close at VND7,600, VND5,700, VND30,400, and VND1,900 respectively.

Post & Telecommunications Investment and Construction Joint Stock Company (PTC) edged up for eight consecutive trading sessions, accelerating 4.96 percent to VND14,800.

Can Don Hydro Power Joint Stock Company (SJD), and Thong Nhat Rubber Joint Stock Company (TNC) enhanced 4.9 percent to VND10,700, and VND15,000 respectively.

Becamex Asphalt & Concrete Joint Stock Company (ACC) mounted 4.86 percent to VND19,400.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north diminished 2.03 percent, or 1.49 points, to finish at 72.09 points. Around 55.9 million shares changed hands at a value of VND591.72 billion.

The UPCoM-Index of unlisted shares also sank 1.47 percent, or 0.46 points, to 30.77 points. A total of 243,365 shares changed hands at a value of VND1.81 billion at 2:30 pm local time.

By Thuy Doan

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