VN-Index declines on pessimism

Vietnam’s benchmark VN-Index slid on May 2 as investors sold shares heavily at the afternoon trading session on fears that losing trend would return.

The gauge of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange dropped 0.28 per cent, or 1.31 points, to close at 472.46 points with 135 gainers, 129 losers, and 46 stocks remaining unchanged.

Trading on the city bourse rose by more than 37 per cent in volume and nearly 36 per cent in value over the previous trading session as more than 118.28 million shares changed hands at a total value of VND1.77 trillion.

Bac Giang Exploitable Mineral Joint Stock Company (BGM) was the most active share in volume with 5.47 million shares changing hands.

Na Ri Hamico Mineral Joint Stock Company (KSS) followed with 4.79 million shares.

Sacom Development & Investment Corporation (SAM) came in third with more than 4 million shares traded.

Dien Quang Joint Stock Company (DQC) and Da Nang Rubber Joint Stock Company (DRC) both gave up 4.98 per cent to close at VND22,900, and VND43,900 respectively.

Binh Thanh Import - Export Production & Trade Joint Stock Company (GIL) and Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) fell 4.96 per cent to close at VND32,600 and VND11,500 respectively.

Viet An Joint Stock Company (AVF), Kinh Bac City Development Share Holding Corporation (KBC), and Tu Liem Urban Development Joint Stock Company (NTL) lost 4.94 per cent to close at VND15,400, VND15,400 and VND25,000 respectively.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC), Lix Detergent Joint Stock Company (LIX), Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH), Vietnam Land Investment Corporation (VNI), and Petrolimex Joint Stock Tanker Company (PJT) grew 5 per cent to close at VND6,300, VND35,700, VND12,600, VND6,300, and VND8,400 respectively.

Savimex Corporation (SAV) added up 4.96 per cent to close at VND12,700.

Binh Thuan Hamico Mineral Joint Stock Company (KSA) escalated for seven consecutive trading sessions, building up 4.95 per cent to close at VND21,200.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – shrank 1.48 points, or 0.27 per cent, to end at 539.72. Among its 30 members, 10 stocks rallied, 17 fell and 3 closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north sank 0.64 per cent, or 0.51 points, to close at 79.35 points with 187 winners, 113 losers, and 44 stocks treading water. Around 88.99 million shares changed hands at a total value of VND928.88 billion.

Meanwhile, the UPCoM-Index of unlisted shares rose 0.17 per cent, or 0.06 points, to close at 35.13 points. A total of 544,294 shares changed hands at VND4.19 billion.

By Thuy Doan

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