Pessimistic sentiment covers stock markets

Vietnam’s benchmark VN-Index fell to seven-week low on July 19 as investors were in extremely low mood amid liquidity drained to the lowest level in the past two years.

The shares of 292 companies and five closed-end funds listed on the Ho Chi Minh Stock Exchange eroded 1.36 percent, or 5.65 points, to close at 410.12 points.

Across the electronic board, 66 stocks climbed, 148 dropped, while 83 remained unchanged.

Trading on the city bourse fell by 14 percent in volume, and 21 percent in value over the previous trading session as 16.67 million shares changed hands at a value of VND275 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, was the most active share in volume for nine consecutive trading sessions with 662,580 shares changing hands.

It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 625,470 shares traded.

Sugar maker Société De Bourbon Tay Ninh (SBT) came next with 442,890 shares traded.

Pomina Steel Corporation (POM) and Saigon Machinery Spare Parts Joint Stock Company (SMA) plunged the daily maximum allowed limit of 5 percent to close at VND15,200 and VND5,700 respectively.

Cuong Thuan IDICO Development Investment Corporation (CTI) declined the second day, giving up 4.97 percent to close at VND17,200.

Seaprodex Refrigeration Industry Corporation (SRF) crippled 4.96 percent to VND24,900.

Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) and Viky Plastic Joint Stock Company (VKP) both rallied 5 percent to VND44,100 and VND2,100 respectively.

Binh Duong Mineral & Construction Joint Stock Company (KSB) and National Seed Joint Stock Company (NSC) both emerged 4.92 percent to VND46,900 and VND32,000 respectively.

Binh Dinh Minerals Company (BMC) rebounded 4.89 percent to close at VND23,600.

The Hanoi’s HNX-Index of the smaller in the north declined for three days in a row, closing down 0.39 percent, or 0.28 points, to close at 70.74 points. Trading volume on the northern market dropped by 20 percent over the previous trading session as 19 million shares changed hands at VND192.42 billion.

The UPCoM-Index of unlisted shares adjusted 0.65 percent, or 0.21 points, to 32.04 points. A total of 78,675 shares changed hands at a value of VND469 million as of 1:40 pm local time.

By Thuy Doan

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