VN-Index declines second day on local selling

Vietnam’s benchmark VN-Index failed to prevent a losing trend on November 29 as local investors sold shares to avert risk.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slipped 0.11 percent, or 0.41 points, to close at 382.9 points.

Of the index, 79 stocks advanced, 137 retreated, while 90 remained unchanged.

Trading volume on the city bourse slightly rose over the previous day as around 34.8 million shares changed hands at a total value of VND492 billion, up 12 percent.

Military Commercial Joint Stock Bank (MBB) won the spot of most active share in volume with 1.36 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) dropped to second rank with 1.12 million shares.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) came next with 930,470 shares traded.

Vietnam Dairy Products Joint Stock Company (VNM) nosedived 31.99 percent to close at VND92,500. The company will award bonus shares to its current shareholders at a ratio of 50 percent.

Long Hau Corporation (LHG) declined for four consecutive trading sessions, losing 29.69 percent to VND18,000.

Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) eroded 7.14 percent to VND20,800.

Viky Plastic Joint Stock Company (VKP) jumped 12.5 percent to close at VND900.

Cadovimex Seafood Import-Export & Processing (CAD), and Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) both surged 5.26 percent to close at VND2,000.

Saigon Fuel Joint Stock Company (SFC) edged up 4.87 percent to close at VND23,700.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north slid 0.86 percent, or 0.53 points, to close at 61.38 points. Around 22 million shares changed hands at a value of VND215 billion.

The UPCoM-Index of unlisted shares inched up 0.1 percent, or 0.03 points, to 31.15 points at 2:15 pm Vietnamese time. A total of 276,144 shares changed hands at a value of VND1.18 billion.

By Thuy Doan

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