Profit-taking hits Vietnam’s stock markets

Vietnam’s benchmark VN-Index retreated on April 13 as investors sold heavily to book profits after it advanced for seven straight days.

The index of 219 companies and four mutual funds on the Ho Chi Minh Stock Exchange lost 0.38 percent, or 1.95 points, to 517.98. Trading volume was at around 53.74 million, worth VND2.19 trillion.

Of the index, 46 stocks gained, 139 dropped, and 38 were flat. All banking shares declined.

Declines on the southern bourse were led by cement producer Ha Tien 1 Cement Joint Stock Company (HT1), Godaco Seafood Joint Stock Company (AGD) in the Mekong Delta province of Tien Giang, and HCMC-based light tubes and light bulbs maker Dien Quang Joint Stock Company (DQC).

Hanoi-based Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SJS) topped the list of the most active stock in volume with 1.89 million shares trading up 1.28 percent to VND79,000.

Pha Lai Thermal Power Joint Stock Company (PPC) came next with 1.66 million shares, followed by Saigon Commercial Bank or Sacombank (STB), which saw more than 1.49 million changing hands.

The newly listed Pacific Property and Infrastructure Development and Investment Joint Stock Company (PPI) was the biggest gainer today. The company’s shares rose by 4.95 percent to VND40,300.

Technology company CMC Corporation (CMG), located in Hanoi, rose by 4.83 percent to VND30,400.

HCMC-based Duc Thanh Wood Processing Joint Stock Company (GDT) added up 4.82 percent to VND23,900.

The smaller bourse in the north also performed badly as the HNX-Index fell 2.66 points, or 1.55 percent, to 168.57. More than VND1.47 trillion was spent on 43.64 million shares.

The UPCoM-Index also dipped, losing 0.12 points to finish at 42.41 points. A total of 4.27 million shares were traded at VND67.8 billion.

By Thien Trung

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