Stocks tumble as gold attracts investors

Vietnam’s benchmark VN-Index opened week in low note on August 8 as investors dumped shares to shift to gold investment channel.

The gauge of 296 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slashed 1.12 percent, or 4.47 points, to close at 396.41 points. Last week, it lost 1.18 percent.

Of the index members, 59 stocks gained, 163 dropped, while 79 remained unchanged. Trading on the city bourse decreased by 18 percent in volume and 15 percent in value as around 24.7 million shares changed hands at a value of VND463 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, was the most active share in volume with 3.15 million shares changing hands. Saigon Securities Inc. (SSI), the country’s largest brokerage, came in third with 974,890 shares traded.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) came next with 839,780 shares.

Viky Plastic Joint Stock Company (VKP) plummeted 5.56 percent to VND1,700.

Other decliners on the southern trading floor included Domesco Medical Import Export Joint Stock Corporation (DMC), Ha Tien Transport Joint Stock Company (HTV), Petrolimex International Trading Joint Stock Company (PIT), and Sacom Development & Investment Corporation (SAM). They all slumped 5 percent to VND24,700, VND9,500, VND9,500, and VND5,700 respectively.

Saigon Beer Transportation Joint Stock Company (SBC) slid 4.92 percent to VND17,400.

Everpia Vietnam Joint Stock Company (EVE) advanced for four consecutive trading sessions, accelerating 4.95 percent to VND33,900.

Construction & Materials Trading Joint Stock Company (CNT) rebounded 4.94 percent to VND8,500.

Lu Gia Mechanical Electric Joint Stock Company (LGC) snapped its four-day losing streak, recovering 4.85 percent to VND17,300.

The Hanoi’s HNX-Index of the smaller in the north collapsed 1.78 percent, or 1.22 points, to finish at 67.32 points. Trading on the northern floor fell by 39.33 percent in volume and 33.32 percent in value as 23.43 million shares changed hands at a value of VND228.73 billion.

The UPCoM-Index of unlisted shares shed 0.13 percent, or 0.04 points, to 31.91 points. A total of 135,800 shares changed hands at a value of VND1.05 billion as of 1:45 pm local time.

By Gia Han

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