VN-Index dips on bearish sentiment

Vietnam’s benchmark VN-Index slid on March 29 as investors lost confidence due to negative news about rising interest rates at commercial banks.

Besides, several stocks, including Kim Long Securities Corporation (KLS), and Bao Viet Securities Company (BVS), were warned for running at a loss.

The gauge of 282 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange tripped 0.36 percent, or 1.64 points, to close at 457.88 points.

Among the index members, 61 were winners, 156 losers, while 70 remained unchanged.

Trading volume on the city bourse improved by 45 percent in volume and 64 percent in value over the previous trading session as 36.12 million shares changed hands at a value of VND894 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued to be the most active share in volume with 2.33 million shares changing hands.

Sai Gon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) tagged along with 1.43 million shares.

Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) came next with 999,500 shares.

Saigon Cable Corporation (CSG) slashed 14.14 percent to close at VND8,500.

Viet Nam Land Investment Corporation (VNI), HUD3 Investment and Construction Joint Stoock Company (HU3), and Lam Dong Minerals & Building Materiasl Joint Stock Company (LBM) all slumped 5 percent to VND11,400, VND22,800, and VND9,500 respectively.

PetroVietNam Low Pressure Gas Distribution Joint Stock Company (PGD) plunged 4.99 percent to VND36,200.

Ben Thanh Trading & Service Joint Stock Company (BTT) strengthened 4.88 percent to close at VND21,500.

Dam Sen Water Park Corporation (DSN) escalated 4.85 percent to close at VND21,600.

Manulife Progressive Fund (MAFPF1) recovered 4.76 percent to VND4,400.

The smaller in the north also tumbled as the Hanoi’s HNX-Index plummeted 1.21 percent, or 1.13 points, to close at 91.94 points. Trading volume jumped to the highest level since the beginning of this year as 63.35 million shares worth VND854.49 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares cut 0.43 points to 37.49 points this morning. A total of 199,700 shares changed hands at a value of VND1.8 billion.

By An Nam

Other news