VN-Index corrects but stays below 500

Movement of VN-Index on July 8. (Photo: Vietstock.vn)
Vietnam’s benchmark VN-Index recovered on July 8 as global stock markets rallied. However, it did not surpass the 500 mark over concern that global markets would make sharp correction after big gains.

The shares of 246 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange finished at 498.55 points, climbing 1.64 points, or 0.33 percent.

Low buying demand pushed down liquidity on trading floor to 42.4 million shares, worth VND1.16 trillion.

On the index, 100 stocks gained, 87 fell, and 63 were unmoved.

Sugar producer Société De Bourbon Tay Ninh (SBT), with 1.97 million shares changing hands, took the top spot with most active shares in volume, replacing Saigon Thuong Tin Commercial Bank or Sacombank (STB), which came in second today with 1.59 million shares.

PetroVietNam Transportation Corporation (PVT) followed with 1.28 million shares traded.

Construction and Materials Trading Joint Stock Company (CNT) advanced for second consecutive day, gaining 4.95 percent to VND33,900.

From July 9 to September 9, Tran Cong Quoc Bao, deputy general director of Construction and Materials Trading Joint Stock Company (CNT), registered to sell 20,000 shares, reducing his holdings to 15,610 shares, claiming personal financial need.

Godaco Seafood Joint Stock Company (AGD) rose 4.94 percent, going from VND38,500 to VND40,400.

Electronic consumer products manufacturer Son Ha International Corporation (SHI) added 4.9 percent.

Ha Tien Transport Joint Stock Company (HTV) capped its winning streak of seven straight trading sessions, losing the maximum allowed limit of 5 percent to fall to VND22,800.

Dinh Vu Port Investment & Development Joint Stock Company (DVP) fell 4.89 percent to VND38,900.

Cao Thi Thuy Van, wife of Pham Hong Minh – member of Board of Directors of Dinh Vu Port Investment & Development Joint Stock Company (DVP), sold 2,000 shares between May 5 and June 5 without making an announcement.

Danang Construction Building Materials and Cement Joint Stock Company (DXV) gave up 4.87 percent.

Hanoi’s HNX-Index gained 0.49 points, or 0.32 percent, to end at 155.58. Trading volume was just around 27.12 million shares, worth VND851.22 billion.

The UPCoM-Index of the unlisted shares shrunk 1.81 points to 54.99 as of 11 am local time. A total of 468.557 shares were traded at a value of VND8.36 billion.

By Phong Linh

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