Markets tumble on profit-taking

Vietnam’s benchmark VN-Index capped two-day winning streak on March 27 as blue-chip stocks dropped drastically while investors sold shares to book profits.

The gauge which tracks 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange plummeted 2.9 per cent, or 13.34 points, to close at 445.92 points.

Among the index members, 75 advanced, 189 dropped, while 46 stocks remained unchanged.

Trading on the city bourse improved by 28.5 per cent in volume, and 26 per cent in value over the previous trading session as 120.88 million shares changed hands at a total value of VND1.61 trillion.

Sacombank Securities Joint Stock Company (SBS) was the most active share in volume with 6.25 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) remained at second place with 6.17 million shares.

Tan Tao Investment & Technology Joint Stock Company (ITA) came next with 4.86 million shares traded.

Big losers on the city bourse included Becamex Asphalt & Concrete Joint Stock Company (ACC), Hoa Binh Rubber Joint Stock Company (HRC), Petroleum Pipeline and Tank Construction Joint Stock Company (PXT), Bien Hoa Packaging Company (SVI), and Saigon General Service Corporation (SVC).

Hai Van Cement Joint Stock Company (HVX) and OPC Pharmaceutical Joint Stock Company (OPC) rocketed 5 per cent to close at VND4,200, and VND33,600.

Petroleum Industrial & Civil Construction Joint Stock Company (PXI) extended its rising run to five consecutive trading sessions, accelerating 4.92 per cent to close at VND6,400.

Thong Nhat Rubber Joint Stock Company (TNC) built up 4.86 per cent to close at VND15,100.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – destroyed 14.86 points, or 2.87 per cent, to end at 502.41. Among its 30 members, 2 stocks climbed, 27 retreated and 1 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north tumbled 3.56 per cent, or 2.77 points, to close at 74.95 points, with 92 winners, 199 losers, and 47 stocks treading water. More than 123.53 million shares changed hands at a total value of VND1.16 trillion.

Meanwhile, the UPCoM-Index of unlisted shares went up 0.06 per cent, or 0.02 points, to close at 35.12 points. A total of 369,200 shares changed hands at VND2.43 billion.

By Thuy Doan

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