VN-Index slides on profit-taking

Vietnam’s benchmark VN-Index curbed its five-day winning streak, declining to below 400 points on February 6 as investors sold shares to rake profits, following an impressive performance of the gauge last week.

Investors also turned more cautious after the new gauge, VN30-Index - the group of 30 stocks that account for about 80 percent of total capitalisation and 60 percent of transaction value of the market, debuted.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slid 0.5 per cent, or 2.01 points, to close at 399.73 points.

There were 77 gainers, 166 decliners, while 63 stocks remained unchanged on the benchmark.

Trading on the city bourse fell by 52 percent in volume and 56 percent in value as around 33 million shares changed hands at a total value of VND427 billion.

Becamex Infrastructure Development Joint Stock Company (IJC) was the most active share in volume with 2.05 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) followed with 1.74 million shares traded.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) tailed after with 1.55 million shares.

Basa Joint Stock Company (VKP) retreated for four consecutive trading sessions, giving up 9.09 percent to close at VND1,000.

South Vietnam Container Shipping Joint Stock Company (VSG) dipped 5.88 percent to VND1,600.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) shortened 5.56 percent to close at VND1,700.

Tai Nguyen Corporation (TNT) snapped its three-day losing run, edging up 5 percent to close at VND4,200.

Kinh Bac City Development Share Holding Corporation (KBC) restored 4.96 percent to close at VND12,700.

Khang Dien Investment & Trading House Joint Stock Company (KDH) rallied 4.86 percent to close at VND19,400.

The VN30 Index retreated 1.94 points, or 0.43 percent, to end at 447.47 points. Among its 30 members, eight stocks rallied, 18 dipped and four were unmoved.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north sank 0.58 percent, or 0.36 points, to close at 61.49 points. Around 34.76 million shares changed hands at a total value of VND285.08 billion.

The UPCoM-Index of unlisted shares strengthened 0.32 percent, or 0.11 points, to 34.58 points at 1:48pm local time. A total of 76,000 shares were traded at VND228 million.

By Thuy Doan

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