Large-cap stocks lose ground

Vietnam’s benchmark VN-Index made sharp correction on November 17 as most blue-chip stocks slumped on profit-taking.

The measure of 300 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange nosedived 1.29 percent, or 5.03 points, to close at 385.86 points.

On the benchmark, 78 stocks gained, 144 dropped, while 83 stocks remained unchanged.

Trading volume on the city bourse slightly changed over the previous trading session, as around 33.9 million shares changed hands at a total value of VND556 billion, down 22 percent.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume the second day with 1.84 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) chased after with 833,240 shares traded.

Becamex Infrastructure Development Joint Stock Company (IJC) came in third with 825,410 shares.

Ocean Group Joint Stock Company (OGC) slashed 14.15 percent to close at VND9,100. The company will reward its current shareholders at a ratio of 5:1.

Viky Plastic Joint Stock Company (VKP) destroyed 10 percent to close at VND900.

Traphaco Joint Stock Company (TRA), Pomina Steel Corporation (POM), AgriBank Securities Joint-Stock Corporation (AGR), and Cadovimex Seafood Import-Export & Processing (CAD) all slid 5 percent to close at VND38,000, VND11,400, VND5,700, and VND1,900 respectively.

Basa Joint Stock Company (BAS) regained 7.69 percent to finish at VND1,400.

South Vietnam Container Shipping Joint Stock Company (VSG) snapped its three-day losing streak, bounding 5.26 percent to VND2,000.

Saigon Beverages Join Stock Company (TRI) edged up 5 percent to close at VND2,100.

The Hanoi’s HNX-Index of the smaller bourse in the north erased previous gains, giving up 1.96 percent, or 1.26 points, to close at 62.88 points. Trading volume fell by 20 percent over the previous day as 24.34 million shares changed hands at a value of VND247.56 billion.

Meanwhile, the UPCoM-Index of unlisted shares surged 0.79 percent, or 0.23 points, to 29.22 points at 11:30 am Vietnamese time. A total of 134,519 shares changed hands at a value of VND742 million.

By Thuy Doan

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