VN-Index retreats to near 400

Stocks on the Ho Chi Minh Stock Exchange tumbled for nine consecutive trading sessions at a steepest loss since late February this year, sending the Vietnam’s benchmark VN-Index to a two-year low on May 24 as investors continued dumping shares heavily to pull out of the bear market.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange plunged 3.65 percent, or 15.23 points, to close at 402.59 points, the lowest level since May 20, 2009.

Among the index members, there were only 13 winners, 243 losers, while 33 remained unchanged.

Trading on the city bourse improved by 23 percent in volume and 12 percent in value over the previous trading session as 39 million shares changed hands at a value of VND703 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued to lead the list of most active shares in volume with 3.13 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) won the second rank with 2.92 million shares.

Refrigeration Electrical Engineering Corporation (REE) took the third place with 1.92 million shares traded.

Song Ba Joint Stock Company (SBA) dived 8.47 percent to close at VND5,400. The company will pay dividends to its current shareholders in cash at a ratio of 3.5 percent on June 10.

Other losers on the city bourse included Pha Lai Thermal Power Joint Stock Company (PPC), Binh Dinh Minerals Company (BMC), and Cotec Construction Joint Stock Company (CTD).

Vinacafé Bienhoa Joint Stock Company (VCF) resumed its winning momentum, recovering 5 percent to close at VND73,500.

Tay Bac Minerals Investment Joint Stock Company (KTB) advanced for four straight trading session, accelerating 4.66 percent to VND24,700.

Dong Thap Trading Corporation (FDG) rebounded 4.52 percent to close at VND18,500.

The Hanoi’s HNX-Index of the smaller in the north fell for eleven consecutive trading sessions, losing 3.52 percent, or 2.62 points, to close at 71.88 points. Trading improved by 12.28 percent in volume and 3.14 percent in value over the previous trading session as 35.18 million shares worth VND365.75 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares shrank 0.48 points to 32.85 points this morning. A total of 104,960 shares changed hands at a value of VND808 million.

By Quy Doan

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