Markets wrap week in bearish sentiment

The Vietnam’s benchmark VN-Index closed week in red on June 17 as several stocks dropped due to selling pressure.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange plunged 1.4 percent, or 6.24 points, to close at 438.93 points.

Among the index members, 44 stocks gained, 181 lost, while 64 remained unchanged.

Trading on the city bourse up by 37 percent in volume and 51 percent in value over the previous trading session as 47.4 million shares changed hands at a value of nearly VND868 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) took the spot of most active share by volume with 3.38 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, followed with 3.06 million shares traded.

Tan Tao Investment & Technology Joint Stock Company (ITA) came in third with 2.09 million shares.

Construction company Licogi 16 Joint Stock Company (LCG) destroyed 30.77 percent to VND14,400. The company will issue 18,749,960 bonus shares to rewards its current shareholders at a ratio of 2:1 in order to increase its chartered capital to VND562.5 billion from nearly VND375 billion.

Other losers on the city bourse included Dien Quang Joint Stock Company (DQC), Dream House Investment Corporation (DRH), and Thu Duc Housing Development Corporation (TDH). They all slashed 5 percent to close at VND17,100, VND5,700, and VND19,000 respectively.

Hoang Long Group (HLG) speed up 4.93 percent to close at VND14,900.

Phuc Tien Trade Manufacture Joint Stock Company (PHT) put an end to its three-day losing streak, recovering 4.82 percent to VND8,700.

Viet Thang Feed Joint Stock Company (VTF) rebounded 4.69 percent to close at VND13,400.

The Hanoi’s HNX-Index of the smaller in the north also slumped 2.61 percent, or 2.05 points, to 76.63 points. Trading on the northern market fell by 10 percent in volume and 14 percent in value over the previous trading session as 52.49 million shares worth VND620 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares adjusted 0.57 points, or 1.72 percent, to 32.61 points. A total of 162,000 shares changed hands at a value of VND1.13 billion as of 11:30 am local time.

By Ngoc Giao

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