Stocks make adjustment

Vietnam’s benchmark VN-Index failed to maintain rising trend on April 18 as some blue-chip stocks dropped.

The gauge of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange dipped 0.14 per cent, or 0.68 points, to close at 472.16 points, with 135 gainers, 136 losers, and 39 stocks remaining unchanged.

Trading on the city bourse rose by 21.5 per cent in volume and 22 per cent in value over the previous trading session as 143.5 million shares changed hands at a total value of VND2.45 trillion.

Sacom Development & Investment Corporation (SAM), which advanced for eight consecutive trading sessions, was the most active share in volume with 7.32 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) followed with 5.57 million shares.

Becamex Infrastructure Development Joint Stock Company (IJC) ranked third with 5.4 million shares traded.

Thong Nhat Rubber Joint Stock Company (TNC) ruined 13.14 per cent to close at VND15,200. The company will pay dividends to its current shareholders in cash at a ratio of 20 per cent on May 2.

Other big losers included Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD), Chuong Duong Beverages Joint Stock Company (SCD), Basa Joint Stock Company (BAS), and South Vietnam Container Shipping Joint Stock Company (VSG).

Bien Hoa Sugar Joint Stock Company (BHS), Dat Xanh Real Estate Service & Construction Corporation (DXG), Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC), Vietnam Land Investment Corporation (VNI), Taya (Vietnam) Electric Wire And Cable Joint Stock Company (TYA), Can Don Hydro Power Joint Stock Company (SJD), and Van Phat Hung Corporation (VPH) were the biggest gainers on the city bourse today. They all rocketed 5 per cent to close at VND23,100, VND12,600, VND6,300, VND6,300, VND4,200, VND12,600, and VND8,400 respectively.

Petro Vietnam Low Pressure Gas Distribution Joint Stock Company (PGD) rolled up 4.97 per cent to close at VND35,900.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – tumbled 2.53 points, or 0.46 per cent, to end at 541.6. Among its 30 members, 9 stocks advanced, 20 retreated and 1 remained unmoved.

The Hanoi HNX-Index of the smaller bourse in the north slashed 0.73 per cent, or 0.58 points, to close at 79.33 points, with 138 winners, 144 losers, and 73 stocks treading water. More than 115.92 million shares changed hands at a total value of more than VND1.26 trillion.

Meanwhile, the UPCoM-Index of unlisted shares surged 0.17 per cent, or 0.06 points, to close at 35.28 points. A total of 295,560 shares changed hands at VND1.79 billion.

By Thuy Doan

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