VN-Index sinks on local selling

Vietnam’s benchmark VN-Index dropped on July 31 as investors withdrew after news of a fuel rise and budget deficit caused several stocks to decline.

The measure of 303 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange cut 0.13 percent, or 0.52 points, to close at 414.48 points.

Among the index members, 109 moved forward, 122 moved backward, while 78 stocks stayed put.

Trading on the city bourse slid by 4 percent in volume, and by 9 percent in value over the previous trading session as more than 25.4 million shares changed hands at a total value of VND417.13 billion.

Tan Tao Investment Industrial Joint Stock Company (ITA) was the most active share in volume with 1.3 million shares changing hands.

Ocean Group Joint Stock Company (OGC) took second place with 1.11 million shares.

Sacom Development & Investment Corporation (SAM) tagged along with 964,910 shares traded.

Hoi An Tourist Service Joint Stock (HOT) plummeted 5 percent to close at VND28,500.

Hung Vuong Joint Stock Corporation (HVG) chopped 4.97 percent to close at VND34,400.

Post & Telecommunications Investment and Construction Joint Stock Company (PTC) retreated for seven consecutive trading sessions, paring 4.76 percent to close at VND8,000.

Phuong Nam Cultural Joint Stock Corporation (PNC) and Sacombank Securities Joint Stock Company (SBS) both soared 5 percent to close at VND4,200.

Lu Gia Mechanical Electric Joint Stock Company (LGC) extended its winning run to six straight days, mounting 4.88 percent to close at VND21,500.

OPC Pharmaceutical Joint Stock Company (OPC) recovered 4.76 percent to close at VND35,200.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – sank 0.31 points, or 0.06 percent, to end at 491.98. Among its 30 members, 12 stocks rallied, 10 weakened, and 8 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north shrank 0.37 percent, or 0.26 points, to close at 69.19 points with 88 winners, 117 losers, and 72 stocks treading water. Around 24.17 million shares changed hands at a total value of VND235.38 billion.

HNX 30 Index - the price index of top 30 stocks calculated based on free float adjusted market capitalization – undermined 0.36 percent, or 0.47 points, to finish at 130.92 points.

Meanwhile, the UPCoM-Index of unlisted shares rebounded 0.59 percent, or 0.22 points, to close at 37.2 points. A total of 284,800 shares changed hands at VND2.17 billion.

Related links: Real-time Boards: HOSE and HNX

By Thuy Doan

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