Markets tumble over fear of fuel price rise

Vietnam’s benchmark VN-Index fell the second trading session on April 19 as fear of a rise in fuel prices weighed on investors’ confidence.

Shares of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slumped 1.08 per cent, or 5.08 points, to close at 467.08 points, with 78 gainers, 188 losers, and 44 stocks remaining unchanged.

Trading volume on the city bourse rose slightly while trading value fell by 4.3 per cent over the previous trading session as 144.5 million shares changed hands at a total value of VND2.34 trillion.

Na Ri Hamico Mineral Joint Stock Company (KSS) topped the list of most active shares in volume with 6.31 million shares changing hands.

Sacom Development & Investment Corporation (SAM) followed with 4.63 million shares.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came in third with 4.35 million shares traded.

Binh Dinh Minerals Joint Stock Company (BMC) plummeted 32.92 per cent to close at VND48,300. The company will pay dividends to its current shareholders in cash at a ratio of 30 per cent and reward bonus shares at 50 per cent on May 8.

Ho Chi Minh City Metal Corporation (HMC) chopped 9.09 per cent to close at VND11,000. The company will pay dividends to its current shareholders in cash at a ratio of 12 per cent on May 8.

Other losers included Transport Engineering Construction & Business Investment Joint Stock Company 584 (NTB), IDICO - Petroleum Trading Construction Investment Joint Stock Company (PXL), Licogi 16 Joint Stock Company (LCG), and Saigon Tourist Transport Corporation (STT).

Petrolimex Gas Joint Stock Company (PGC) and Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) both bounded 5 per cent to close at VND8,400.

Hoa Binh Construction & Real Estate Corporation (HBC) climbed for nine straight trading sessions, building up 4.99 per cent to close at VND35,800.

Cuu Long Fish Joint Stock Company (ACL) restored 4.95 per cent to close at VND19,100.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – nosedived 7.92 points, or 1.46 per cent, to end at 533.68. Among its 30 members, 4 stocks advanced, 25 retreated and 1 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north collapsed 2.31 per cent, or 1.83 points, to close at 77.5 points, with 81 winners, 212 losers, and 54 stocks treading water. More than 100.43 million shares changed hands at a total value of more than VND1.01 trillion.

Meanwhile, the UPCoM-Index of unlisted shares clipped 0.6 per cent, or 0.21 points, to close at 35.07 points. A total of 323,055 shares changed hands at VND2.77 billion.

By Thuy Doan

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