Investors barter shares disqualified for margin trading away

Vietnam’s benchmark VN-Index tumbled to six-week low on October 12 as more than 70 percent of total listed shares traded below referenced prices.

Market sentiment worsened after the State Securities Commission of Vietnam announced the list of companies disqualified for margin trading.

The shares of 297 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange plummeted 1.63 percent, or 6.82 points, to close at 410.91 points.

Across the benchmark, there were 36 gainers, 196 decliners, while 70 stocks remained unchanged.

Trading on the city bourse rose by 22 percent in volume and 16 percent in value over the previous day as around 35.24 million shares changed hands at a total value of VND513 billion.

Becamex Infrastructure Development Joint Stock Company (IJC) was the most active share by volume with 1.92 million shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, followed with 1.85 million shares changing hands.

Vietnam Electricity Construction Joint Stock Corporation (VNE) came in third with 1.39 million shares traded.

Basa Joint Stock Company (BAS) dived 5.26 percent to close at VND1,800.

Others losers included Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC), International Development & Investment Corporation (IDI), and Sai Gon Vien Dong Technology Joint Stock Company (SVT).

Chuong Duong Beverages Joint Stock Company (SCD) rebounded 4.96 percent to VND12,700.

South Logistics Joint Stock Company (STG) resumed its two-day winning streak, strengthening 4.91 percent to VND29,900.

Vietnam Active Fund (VFMVFA) snapped its four-straight-trading-session losing run, restoring 4.76 percent to VND4,400.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north nosedived 2.04 percent, or 1.45 points, to finish at 69.48 points. Around 44.64 million shares changed hands at a value of VND462.07 billion.

The UPCoM-Index of unlisted shares slashed 0.92 percent, or 0.28 points, to 30.25 points at 1:55 pm local time. A total of 194,875 shares changed hands at a value of VND1.03 billion.

By Thuy Doan

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