Market closes week on low note

Vietnam’s benchmark VN-Index lost ground Friday, yet with a new record high in trade volume.

The shares of 179 companies and four mutual funds on the Ho Chi Minh Stock Exchange lost 8.42 points or 1.35 percent to close at 615.68. More than 137 million shares worth around VND6.45 trillion (US$361.2 million) changed hands, far past the record trade volume of 123.4 million last Friday.

Among the index members, declines outnumbered gains by 133 to 44 while six shares remained unchanged.

Declines in the southern market were led by Tan Tao Investment Industry Corp. (ITA) and Kinh Do Food Corp. (KDC), both in HCMC, and the garment material supplier MIREA Corp. (KMR) in neighboring Binh Duong Province.

Saigon Commercial Bank or Sacombank (STB) climbed to the spot of most active shares as more than 15 million were traded on the city bourse.  Vietnam’s largest listed brokerage Saigon Securities Inc. (SSI) leapt to second spot with around 6.2 million shares changing hands, followed by the city-based Refrigeration Electrical Engineering Corp. (REE) with 5.6 million shares.

HNX-Index also lost 4.11 points or 1.88 percent to 214.27. Around 47.2 million shares were traded at VND3 trillion.

Meanwhile, UPCoM-Index declined to 75.20, down 1.33 points or 1.74 percent over Thursday. The trade volume remained modest compared to last week and the day earlier as standing at 93,965. A total of VND1.48 billion was spent on the trading.

On the global market, US blue chips led a bigger stock market rally Thursday, as better-than-expected results from four components pushed the Dow industrials above 10,000 again and reassured investors about the ongoing corporate reporting period.

By Phong Linh

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