VN-Index drops on fading confidence

Vietnam’s benchmark VN-Index declined after a two-day holiday on April 13 as investors’ confidence waned due to negative news.

The shares of 283 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange dipped 0.72 percent, or 3.28 points, to close at 461.01 points.

Of the index, only 47 stocks gained, 178 lost while 63 were unmoved.

Trading on the city bourse improved by 28 percent in volume and 11 percent in value over the previous trading session as 26 million shares changed hands at a value of VND519 billion.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) was the most active share in volume with 1.48 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) followed with 851,500 shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came in next with 640,310 shares traded.

VietNam Sun Copporation (VNS) fell for the second day, subtracting 4.93 percent to close at VND21,200.

Vinh Long Cereal and Food Corporation (VLF) shed 4.81 percent to close at VND17,800.

Construction company Long Hau Corporation (LHG) tumbled 4.8 percent to VND35,700.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) accelerated the daily maximum allowed limit of 5 percent to close at VND12,600.

Sao Vang Rubber Joint Stock Company (SRC) strengthened 4.6 percent to VND25,000.

Thu Duc Water Supply Joint Stock Company (TDW) advanced for three days in a row, enriching 4.55 percent to VND9,200.

The smaller in the north also dropped as the Hanoi’s HNX-Index sank 0.93 percent, or 0.84 points, to close at 89.42 points. Trading volume slightly recovered over the previous trading session as investors promoted disbursement after the gauge retreated for three consecutive sessions. Around 18.75 million shares worth VND278.79 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares added up 0.28 points to 37.1 points this morning. A total of 33,000 shares changed hands at a value of VND208.27 million.

By Da Nguyet

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