Selling pressure dims market

The Vietnam’s benchmark VN-Index extended losing streak to the third day on June 15 as selling demand increased amid investors became cautious.

The shares of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange edged down 0.02 percent, or 0.09 points, to close at 441.45 points.

On the index, the number of losers were five times higher than winners as 41 stocks rallied, 206 fell, while 42 remained unchanged.

Trading on the city bourse dropped by 19 percent in volume and 19 percent in value over the previous trading session as 49.9 million shares changed hands at a value of nearly VND860 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, maintained the position of most active share by volume for eight consecutive trading sessions with 4.01 million shares changing hands.

PetroVietnam Transportation Corporation (PVT) won the second rank with 2.45 million shares.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) dropped to the third place with 1.96 million shares traded.

Losers on the city bourse included Materials - Petroleum Joint Stock Company (COM), Cotec Construction Joint Stock Company (CTD), and Dong Hai Joint Stock Company of Ben Tre (DHC). They all slumped the daily maximum allowed limit of 5 percent to VND30,400, VND41,800, and VND9,500 respectively.

Vincom Joint Stock Company (VIC) climbed for three consecutive days, building up 4.88 percent to VND129,000.

Nui Nho Stone Corporation (NNC) advanced for eleven straight days, gaining 4.86 percent to VND30,200.

Everpia Vietnam Joint Stock Company (EVE) extended its rising streak to six days in a row, surging 4.69 percent to VND29,000.

The Hanoi’s HNX-Index of the smaller in the north also shrank 2.23 percent, or 1.77 points, to 77.74 points. Trading on the northern market fell by 43 percent in volume and 44 percent in value over the previous trading session as 47.8 million shares worth VND584.82 billion changed hands.

The UPCoM-Index of unlisted shares also slightly slipped 0.03 points, or 0.09 percent, to 33.25 points. A total of 421,400 shares changed hands at a value of VND8.28 billion as of 3:15 pm local time.

By Vinh Nghi

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