VN-Index makes correction

Vietnam’s benchmark VN-Index unexpectedly tumbled at the end of the trading session on March 16 to close week in low note as investors dumped large-cap stocks heavily to lock in previous gains.

The gauge of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange declined 0.75 per cent, or 3.33 points, to close at 438.52 points.

Across the benchmark, 138 stocks gained, 109 lost, while 63 remained unchanged.

More than 113.65 million shares changing hands at a total value of VND1.84 trillion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume for second day with 11.12 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) remained at second place with 6.86 million shares.

Saigon Securities Inc. (SSI) came in third with 5.71 million shares traded.

Telecommunication Industry Electronics Joint Stock Company (TIE) plummeted 13.16 per cent to close at VND9,900. The company will pay dividends for the year 2011 to its current shareholders in cash at a ratio of 14 per cent on April 5.

Saigon Beverage Joint Stock Company (TRI) pruned 5 per cent to close at VND1,900.

Ocean Group Joint Stock Company (OGC) weakened 4.96 per cent to close at VND11,500.

Sieu Thanh Joint Stock Corporation (ST8), Traphaco Joint Stock Company (TRA), Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) and Vitranschart Joint Stock Company (VST) all accelerated 5 per cent to close at VND12,600, VND46,200, VND8,400, and VND4,200 respectively.

Bao Viet Holdings  (BVH) and Cotec Construction Joint Stock Company (CTD) both edged up 4.96 per cent to close at VND74,000, and VND36,000 respectively.

Quoc Cuong Gia Lai Joint Stock Company (QCG) curbed its eight-day losing streak, saving 4.95 per cent to close at VND10,600.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – slashed 5.95 points, or 1.18 per cent, to end at 496.87. Among its 30 members, 8 stocks gained, 20 retreated, and 2 remained unmoved.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north enlarged 0.79 per cent, or 0.57 points, to close at 72.76 points with 231 winners, 59 losers, and 52 stocks treaded water. More than 113.83 million shares changed hands at a total value of VND1.21 trillion.

The UPCoM-Index of unlisted shares emerged 0.43 per cent, or 0.15 points, to close at 34.76 points. A total of 3,009,395 shares changed hands at VND140.89 billion.

By Thuy Doan

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