Markets march south on excess supply

Vietnam’s benchmark VN-Index started week on low note on July 16 as selling pressure increased while cash flow drained.

The index of 301 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange dropped 0.72 percent, or 3 points, to close at 413.98 points.

Among the index members, 80 rose, 182 fell, while 45 remained unchanged.

Trading on the city bourse fell by 25 percent in volume, and by 26.6 percent in value over the previous trading session as more than 41.73 million shares changed hands at a total value of VND560.62 billion.

Military Commercial Joint Stock Bank (MBB) was the most active share in volume with 2.03 million shares changing hands.

IDICO - Petroleum Trading Construction Investment Joint Stock Company (PXL) followed with 1.83 million shares.

Tan Tao Investment Industrial Joint Stock Company (ITA) came in third with 1.74 million shares traded.

Losers on the city bourse today included Lilama 18 Joint Stock Company (LM8), Petroleum Industrial & Civil Construction Joint Stock Company (PXI), Duyen Hai Multi Modal Transport Joint Stock Company (TCO), and Ca Mau Trading Joint Stock Company (CMV).

Viettronics Tan Binh Joint Stock Company (VTB), COMA 18 Joint Stock Company (CIG), and Construction & Materials Trading Joint Stock Company (CNT) all speeded up 5 percent to close at VND8,400, VND4,200, and VND8,400 respectively.

OPC Pharmaceutical Joint Stock Company (OPC) regained 4.86 percent to close at VND36,700.

Binh Thanh Import - Export Production & Trade Joint Stock Company (GIL) added up 4.81 percent to close at VND43,600.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – crushed 3.73 points, or 0.76 percent, to end at 488.63. Among its 30 members, 3 stocks rallied, 24 weakened, and 3 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north plunged 1.12 percent, or 0.79 points, to close at 69.78 points with 72 winners, 154 losers, and 48 stocks treading water. Around 34.49 million shares changed hands at a total value of VND304.6 billion.

HNX 30 Index - the price index of top 30 stocks calculated based on free float adjusted market capitalization – nosedived 2.3 percent, or 3.1 points, to finish at 131.43 points.

Meanwhile, the UPCoM-Index of unlisted shares surged 0.05 percent, or 0.02 points, to close at 36.72 points. A total of 329,200 shares changed hands at VND2.37 billion.

Related links: Real-time Boards: HOSE and HNX

By Thuy Doan

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