Profit-taking closes market in bearish sentiment

Vietnam’s benchmark VN-Index sank the most in four months to close week in low note on September 16 as investors sold shares heavily to book profits.

The gauge which tracks 296 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange crippled 2.88 percent, or 13.56 points, to close at 457.11 points.

Among the index members, only 34 surged, 216 sank, while 51 remained unchanged.

Trading on the city bourse dropped by 16 percent in volume and little changed in value over the previous day as around 59 million shares changed hands at a value of VND1.27 trillion.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) was the most active share in volume with 2.06 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) followed with 2.01 million shares traded.

Petrovietnam Fertilizer & Chemical Corporation (DPM) ranked third with 1.89 million shares.

Viky Plastic Joint Stock Company (VKP) collapsed 5.26 percent to VND1,800.

Construction Joint Stock Company No.5 (SC5), Thien Long Group Corporation (TLG), and Vinafco Joint Stock Corporation (VFC) closed down 5 percent to VND17,100, VND19,000, and VND9,500 respectively.

Chuong Duong Joint Stock Company (CDC) shed 4.96 percent to VND11,500.

Binh Thanh Import - Export Production & Trade Joint Stock Company (GIL) reversed 5 percent to close at VND27,300.

Hoi An Tourist Service Joint Stock (HOT) emerged 4.97 percent to VND16,900.

Hamico Mineral Group (KSH) and Pomina Steel Corporation (POM) both rallied 4.96 percent to VND25,400, and VND14,800 respectively.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north tumbled for three consecutive days, losing 1.95 percent, or 1.49 points, to finish at 74.88 points. Trading on the northern floor fell by 20 percent in volume over the previous day as 51.67 million shares changed hands at a value of VND583 billion.

The UPCoM-Index of unlisted shares also slid 0.25 percent, or 0.08 points, to 31.46 points. A total of 190,400 shares changed hands at a value of VND1.05 billion at 11:30 am local time.

By Uyen Nhi

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