VN-Index slumps on inflation concerns

Vietnam’s benchmark VN-Index retreated for the second day on February 17 as investors dumped shares to avert risk amid speculation on rising inflation.

The gauge, which tracks 280 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, sank 0.64 percent, or 3.28 points, to close at 509.83 points.

Among the index members, 47 increased, 182 declined, while 56 remained unchanged.

Trading volume slightly rose over the previous trading session with support from foreign investors. Nearly 36 million shares changed hands at a value of VND859 trillion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, took the spot of most active share in volume with 2.73 million shares changing hands.

It was followed by Refrigeration Electrical Engineering Corporation (REE) with 1.92 million shares.

Tan Tao Investment Industry Corporation (ITA) came next with 1.74 million shares traded.

Dai Thien Loc Corporation (DTL) collapsed 8.7 percent to VND21,000. The company will pay dividends to its current shareholders on March  21 and April 14 at a total ratio of 20 percent.

Interfood Shareholding Company (IFS), Sai Gon Fuel Company (SFC), and Binh Duong Trade and Development Joint Stock Company (TDC) all plunged 5 percent to VND11,400, VND28,500, and VND26,600 respectively.

Saigon Beer Transportation Joint Stock Company (SBC) marched south the third day, trimming 4.97 percent to VND30,600.

Khang An Investment Real Estate Joint Stock Company (KAC) extended its winning streak to four straight days, adding up 4.89 percent to VND27,900.

Vietnam Container Shipping Joint Stock Company (VSC) grew 4.69 percent to VND67,000.

Ngo Han Joint Stock Company (NHW) went up for three straight days, gaining 4.46 percent to VND16,400.

The smaller bourse in the north headed for five consecutive days of losses as the Hanoi’s HNX-Index tumbled 1.44 percent, or 1.52 points, to close at 103.97 points. Trading volume shot up 30 percent over the previous day as more than 26 million shares changed hands worth VND428.79 billion.

Meanwhile, the UPCom-Index edged up 0.15 points to 41.58 points this morning. A total of 83,400 shares changed hands at a value of VND870.87 million.

By Thuy Doan

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