VN-Index declines second day on inflation concerns

Vietnam’s benchmark VN-Index sank the second day on March 15 as investors dumped shares heavily on concerns over rising inflation.

The gauge of 281 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange plunged 2.33 percent, or 11.16 points, to close at 468.74 points.

Of the index members, 69 advanced, 147 retreated, while 70 remained unchanged.

Trading on the southern trading floor declined by 17 percent in volume and 12 percent in value over the previous trading session as 37.67 million shares changed hands at a value of VND813 billion.

Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) won the position of most active share in volume with 2.36 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, chased after with 1.97 million shares, followed by Licogi 16 Joint Stock Company (LCG) with 1.61 million shares.

Pan Pacific Coporation (PAN) fell the second day, erasing 9.94 percent to close at VND15,400.

Viet An Joint Stock Company (AVF) and Saigon Fuel Joint Stock Company (SFC) both gave up 5 percent to VND17,100 and VND24,700 respectively.

Bao Viet Holdings (BVH) shed 4.97 percent to trade at VND86,000.

Vietnam – Italy Steel Joint Stock Company (VIS) grew 4.96 percent to VND25,400.

Petro Capital Infrastructure Investment Joint Stock Company (PTL) recovered 4.95 percent to VND10,600.

Seaprodex Refrigeration Industry Corporation (SRF) capped two days of losses, gaining 4.82 percent to VND23,900.

The smaller in the north continued finished in bearish sentiment as the Hanoi’s HNX-Index slid 0.96 percent, or 0.88 points, to close at 91.04 points. Trading value dropped by 43 percent over the previous trading session as just 28.5 million shares worth VND425.95 billion changed hands.

Meanwhile, the UPCom-Index of unlisted shares market slightly rose 0.19 points to 38.39 points this morning. A total of 390,000 shares changed hands at a value of VND2.45 billion.

By Bao Phuong

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