VN-Index extends worst losing streak this year

Vietnam’s benchmark VN-Index extended its losing streak to seven consecutive trading sessions on May 17 as buying demand unexpectedly dropped, causing several stocks to devalue.

The gauge of 303 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange waned 1.63 per cent, or 7.33 points, to close at 442.58 points with 76 winners, 173 losers, and 59 stocks remaining unchanged.

Trading on the city bourse fell by 10 per cent in volume, and 12 per cent in value over the previous trading session as more than 77.74 million shares changed hands at a total value of VND1.15 trillion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) won the spot of most active share in volume with 2.25 million shares changing hands.

Sao Mai Construction Corporation (ASM) tagged along with 2.06 million shares.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) dropped to third place compared to previous day with 2.05 million shares traded.

Becamex Asphalt and Concrete Joint Stock Company (ACC) resumed its three-day losing streak, cutting 17.93 per cent to close at VND23,800. The company will pay dividends to its current shareholders in cash at a ratio of 40 per cent from June 6.

Vung Tau Construction & Real Estate Joint Stock Company (VRC) deleted 13.46 per cent to close at VND9,000. The company will pay dividends to its current shareholders in cash at a ratio of 10 per cent on June 1.

Hung Vuong Joint Stock Corporation (HVG) declined for five straight days, fading 5.24 per cent to close at VND38,000. The company will pay dividends to its current shareholders in cash at a ratio of 10 per cent from June 29.

Beton 6 Corporation (BT6), Chang Yih Ceramic Joint Stock Company (CYC), and Hoang Huy Investment Services Joint Stock Company (HHS) all soared 5 per cent to close at VND8,400, VND2,100 and VND39,900 respectively.

Khang An Investment Real Estate Joint Stock Company (KAC) recouped 4.95 per cent to close at VND10,600.

Ba Ria Thermal Power Joint Stock Company (BTP) and Saigon Beer Transportation Joint Stock Company (SBC) increased 4.92 per cent to end at VND6,400 and VND12,800 respectively.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – erased 6.24 points, or 1.2 per cent, to end at 513.46. Among its 30 members, 6 stocks advanced, 19 declined, and 5 closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north diminished 1.81 per cent, or 1.4 points, to close at 76.15 points with 85 gainers, 202 losers, and 51 stocks treading water. Around 50.8 million shares changed hands at a total value of VND545.9 billion.

Meanwhile, the UPCoM-Index of unlisted shares grew 0.14 per cent, or 0.5 points, to close at 35.61 points. A total of 182,720 shares changed hands at VND1.41 billion.

By Thuy Doan

Other news