VN-Index trips on profit-taking

Vietnam’s benchmark VN-Index unexpectedly dropped on March 22 as some investors sold stocks heavily to take profit on concerns that Japanese funds possibly withdrew money from the Vietnamese market, leading to recent net sales by foreigners.

The gauge of 282 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slid 0.74 percent, or 3.45 points, to close at 464.8 points.

Of the index members, 56 strengthened, 165 weakened, while 66 remained unchanged.

Trading on the city bourse fell by 11 percent in volume and 4 percent in value over the previous trading session as 37.13 million shares changed hands at a value of VND837 billion.

Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) took the position of most active share in volume with 1.96 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, tagged along with 1.94 million shares.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) came in next with 975,180 shares.

Tu Liem Urban Development Joint Stock Company (NTL) tumbled the daily maximum allowed limit of 5 percent to VND57,000.

Cuong Thuan IDICO Development Investment Corporation (CTI) and Everpia Vietnam Joint Stock Company (EVE) both declined 4.89 percent to VND35,000 and VND38,900 respectively.

Cuu Long Petro Urban Development & Investment Corporation (CCL) and Kinh Do Corporation (KDC) both closed down 4.88 percent to VND15,600, and VND42,900 respectively. The former has retreated for twelve consecutive days.

HUD3 Investment and Construction Joint Stock Company (HU3) and Nam Kim Steel Joint Stock Company (NKG) both mounted 4.98 percent to VND25,300.

Dat Xanh Real Estate Service & Construction Corporation (DXG) shot up for the third day, gaining 4.93 percent to VND21,300.

Masan Group (MSN) edged up 4.91 percent to close at VND85,500.

The smaller in the north slumped the second day as the Hanoi’s HNX-Index cut 1.76 percent, or 1.67 points, to close at 93.17 points. Trading volume slightly fell over the previous trading session as 37.5 million shares worth VND604.34 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares rallied 0.41 points to 38.71. A total of 126,200 shares changed hands at a value of VND1.35 billion.

By Moc Lan

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