Gold, stocks march south together

The Vietnam’s stock market went down in the trading session on December 18 due to increasing selling pressure.

The Vietnam’s benchmark VN-Index cut 8.93 points, or 1.55 percent, to close week at 568.18 points with 70 stocks winning, 140 losing, and 98 remaining unchanged. Trading volume exceeded 211 million shares worth nearly VND3.98 trillion.

The VN30-Index lost 7.62 points, or 1.3 percent, to close at 578.85 points. Trading volume topped 124 million shares worth more than VND2.16 trillion.

The HNX-Index of the smaller bourse in the north plummeted 1.03 points to 78.29 points. Among the index members, 81 stocks climbed, 99 dropped, and 196 treaded water. Trading volume nearly reached 49 million shares worth roughly VND551.6 billion.

The HNX30-Index slashed 3.19 points, or 2.27 percent, to wrap week at 137.65 points. Trading volume nearly touched 26.7 million shares worth more than VND306.8 billion.

The UPCoM-Index tripped 0.01 points, or 0.02 percent, to close at 48.14 points. Trading volume was at above 1.6 million shares worth roughly VND16.2 billion.

Global gold price declined on Fed’s decision, dragging the price of gold in Vietnam to below VND33 million per tael (1.2 ounces).

Saigon Jewelry Company bought gold at VND32.71 million per tael, and sold at VND32.99 million per tael, down VND80,000 per tael in buying price and VND70,000 per tael in selling price compared to that in the previous day.

Doji Gems and Gold Group purchased gold at VND32.89 million per tael and sold at VND32.95 per tael, a decrease of VND70,000 per tael in both buying and selling rates over the previous day.

By Hanh Nhung – Translated by Thuy Doan

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