VN-Index falls second day on profit-taking

The Vietnam’s benchmark VN-Index retreated the second day on June 14 as blue-chip stocks continued to drop and investors sold their holdings to take quick margins.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slid 0.26 percent, or 1.15 points, to close at 441.54 points.

Across the city bourse, 126 stocks climbed, 105 declined, while 58 treaded water.

Trading on the city bourse improved by 7.5 percent in volume and 19 percent in value over the previous trading session as 61.9 million shares changed hands at a value of nearly VND1.06 trillion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, stayed on the position of most active share by volume for seven consecutive trading sessions with 4.9 million shares changing hands.

It was followed by Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) with 2.1 million shares.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) came in third with 1.99 million shares traded.

Losers on the city bourse included Savimex Corporation (SAV), Ntaco Corporation (ATA), and Thong Nhat Rubber Joint Stock Company (TNC). They all collapsed the daily maximum allowed limit of 5 percent to VND30,400, VND19,000, and VND15,200 respectively.

Thac Mo Hydro Power Joint Stock Company (TMP), Vien Dong Pharmaceutical Joint Stock Company (DVD), Nam Viet Joint Stock Company (NAV), and Vietnam Tanker Joint Stock Company (VTO) were the biggest winners today. They all accelerated 5 percent to VND10,000, VND8,400, VND8,400, and VND6,300 respectively.

The Hanoi’s HNX-Index of the smaller in the north also slashed 1.68 percent, or 1.36 points, to 79.51 points. Trading on the northern market rose by 38 percent in volume and 39 percent in value over the previous trading session as 83.52 million shares worth VND1.04 trillion changed hands.

The UPCoM-Index of unlisted shares also slightly slipped 0.02 points, or 0.06 percent, to 33.55 points. A total of 243,898 shares changed hands at a value of VND2.31 billion as of 11:30 am local time.

By Bao Phuong

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