Stocks, gold march south

After closing for National Day, the Vietnam’s stock market resumed losing trend in the trading session on September 3 as several stocks of banking, oil and gas, and securities sectors plummeted while foreign investors continued to net sell VND143 billion on the Ho Chi Minh City Stock Exchange.
The Vietnam’s benchmark VN-Index slashed 8.01 points, or 1.42 percent, to close at 554.3 points. Among the index members, 72 stocks increased, 153 decreased while 85 remained unchanged. Trading volume reached 93 million shares worth VND1.64 trillion.
The VN30-Index sank 8.03 points, or 1.38 percent, to 575.58 points. Trading volume was at 37 million shares worth VND874 billion.
The HNX-Index of the smaller trading floor in the north slid 0.46 points, or 0.6 percent, to 76.58 points with 77 winners, 94 losers and 197 stocks were unchanged. Trading volume hit 51 million shares worth VND547 billion.
The HNX30-Index fell 1.34 points, or 0.93 percent, to 142.67 points. Trading volume was at 19 million shares worth VND225 billion.
The price of gold in Vietnam lost VND170,000 per tael (1.2 ounces) on September 3.
Saigon Jewelry Company purchased gold at VND34.02 million per tael and sold at VND34.3 million per tael, a decline of VND150,000 per tael in both buying and selling prices.
In Hanoi, Doji Gems and Gold Group bought SJC’s gold at VND34.12 million and sold at VND34.2 million, down VND180,000 per tael.
Domestic gold price was about VND3.4 million per tael higher than global one.

By Nhung Nguyen – Translated by Thuy Doan

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