Market suffers as investors dump shares

Vietnam’s benchmark VN-Index, which tracks 199 companies and four closed-end funds, fell as much as 12.44 points, or 2.33 percent, to close the week at 520.9 on January 8 due to investors’ heavy selling.

Of the index, 39 stocks gained, 144 declined, and 20 were unchanged. More than 84.7 million shares worth around VND3.88 trillion (US$198.9 million) changed hands.

The market saw most blue chips sliding today, of which PVF, SJS, and ITA suffered the biggest losses.

Of the banking share group, only Saigon Commercial Bank or Sacombank (STB) and Bao Viet Holdings (BVH) advanced 0.1 percent.

Newly listed company Godaco Seafood (AGD) gained 1.5 percent to VND31,400.

DESCON Construction Corporation (DCC) slid 0.5 percent to VND26,800. Dam Chi Phuong, the wife of the company’s deputy general director Vu Huy Hoang, registered to sell 87,200 shares from January 7 to April 7 for personal financial demand, sending her holdings to zero.

Hanoi’s HNX-Index rose slightly by 1.81 points to 179.76. There were 82 advancers, 153 losers, and 21 remained unchanged. Trading value exceeded more than VND5.5 trillion ($282 million).

The UP-CoM Index lost 1.59 percent, or 0.85 points, to 52.48. A total of 57,530 shares changed hands, worth VND754 million.

By Phong Linh

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