VN-Index slumps for second day to below 450

Vietnam’s benchmark VN-Index fell the second day on September 21 as investors dumped shares heavily to take profits on speculation that stocks would sink deeper following a 13-day rising streak.

The shares of 296 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange dismissed 1.5 percent, or 6.8 points, to close at 447.57 points.

Across the benchmark, 81 stocks rallied, 134 dropped, while 86 remained unchanged.

Trading on the city bourse slightly dropped in volume and 8 percent in value over the previous day as around 43.95 million shares changed hands at a value of VND819 billion.

Sacom Development & Investment Corporation (SAM) won the spot of most active share in volume with 2.24 million shares changing hands.

Becamex Infrastructure Development Joint Stock Company (IJC) followed with 2.15 million shares.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) came in third with 1.79 million shares traded.

Power Engineering Consulting Joint Stock Company 1 (TV1) declined for three consecutive days, giving up 16.46 percent to close at VND6,600. The company will issue 2.61 million shares to pay dividends to its current shareholders at a ratio of 15 percent.

Petroleum Equipment Assembly & Metal Structure Joint Stock Company (PXS) erased 9.32 percent to VND10,700.

Viky Plastic Joint Stock Company (VKP) retreated for four straight days in a row, contracting 6.25 percent to VND1,500.

Seaprodex Refrigeration Industry Corporation (SRF) revived 5 percent to close at VND23,100.

Vietnam Fumigation Joint Stock Company (VFG) snapped its four-day losing streak, restoring 4.97 percent to VND35,900.

Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) extended its winning run to seven consecutive days, climbing 4.88 percent to VND64,500.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north made a contrast move. The gauge of 391 companies inched up 0.3 percent, or 0.22 points, to finish at 74.6 points. Trading on the northern floor lightly surged over the previous day as 43 million shares changed hands at a value of VND475 billion.

The UPCoM-Index of unlisted shares also tripped 0.26 percent, or 0.08 points, to 31.2 points. A total of 100,900 shares changed hands at a value of VND557 million at 11:30 am local time.

By Nam Giao

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