VN-Index unexpectedly falls on profit-taking

Vietnam’s benchmark VN-Index unexpectedly dropped on June 8 as several large-cap stocks suddenly returned to reference prices as investors sold shares to book profits, affecting the whole market performance.

Shares of 303 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange dipped 0.35 per cent, or 1.51 points, to close at 432.9 points.

On the benchmark, 97 stocks raised, 141 lost, while 70 remained unchanged.

Trading on the city bourse rose by nearly 16 per cent in volume, and 5 per cent in value over the previous trading session as more than 82.62 million shares changed hands at a total value of VND1.19 trillion.

Sacom Development & Investment Corporation (SAM) was the most active share in volume with 4.17 million shares changing hands.

Saigon Securities Inc. (SSI) tagged along with 3.4 million shares, followed by Licogi 16 Joint Stock Company (LCG) with 3.11 million shares traded.

Cosmetics producer SPM Joint Stock Company (SPM) slid 5 per cent to close at VND34,200.

Vegetable Oil Packing Joint Stock Company (VPK) curbed 4.96 per cent to close at VND13,400.

Godaco Seafood Joint Stock Company (AGD) dropped 4.91 per cent to close at VND46,500.

Ha Tien Transport Joint Stock Company (HTV), and Phu Nhuan Jewellery Joint Stock Company (PNJ) both shot up 5 per cent to close at VND12,600, and VND42,000 respectively.

Binh Thuan Mineral Industry Joint Stock Company (KSA) edged up for six straight trading sessions, escalating 4.96 per cent to close at VND14,800.

Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) rallied 4.95 per cent to close at VND31,800.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – adjusted 1.26 points, or 0.25 per cent, to end at 508.15. Among its 30 members, 7 stocks levitated, 15 went down, and 8 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north trimmed 1.04 per cent, or 0.79 points, to close at 75.08 points with 94 winners, 164 losers, and 61 stocks treading water. Around 71.9 million shares changed hands at a total value of VND693.05 billion.

Meanwhile, the UPCoM-Index of unlisted shares inched up 0.31 per cent, or 0.11 points, to close at 35.92 points. A total of 390,200 shares changed hands at VND1.94 billion.

Related links: Real-time Boards: HOSE and HNX

By Thuy Doan

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