Profit-taking sends market down

The Vietnam’s benchmark VN-Index slid on June 8 as investors sold shares heavily to take profits after the central bank’s official announced that loans for non-production sectors would be reduced this month.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange retreated 0.93 percent, or 4.11 points, to close at 439.57 points.

Among the index members, 89 increased, 117 plunged, while 83 remained unchanged.

Trading on the city bourse improved by 18 in volume, however, it dropped by 2 percent in value over the previous trading session as 37.45 million shares changed hands at a value of VND627 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, topped the list of most active shares by volume with 3.11 million shares changing hands.

Investment and Trading Of Real Estate Joint Stock Company (ITC) followed with 2.19 million shares.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) tagged along with 1.97 million shares traded.

Cotec Investment & Land-House Development Joint Stock Company (CLG) slashed 6.67 percent to close at VND14,000.

Bibica Corporation (BBC) and Binh Dinh Minerals Company (BMC) collapsed 5 percent to VND11,400 and VND20,900 respectively.

Chang Yih Ceramic Joint Stock Company (CYC) sank 4.88 percent to VND3,900.

DESCON Industry Construction Corporation (DCC) and Interfood Shareholding Company (IFS) both jumped 5 percent to VND16,800, and VND12,600 respectively.

Dry Cell and Storage Battery Joint Stock Company (PAC) climbed the second day, speeding up 4.85 percent to VND41,100.

Dien Quang Joint Stock Company (DQC) and Nui Nho Corporation (NNC) both closed up 4.82 percent to VND17,400, and VND23,900 respectively.

The Hanoi’s HNX-Index of the smaller in the north also contracted 0.6 percent, or 0.46 points, to close at 75.63 points. Trading volume jumped 60 percent over the previous trading session as 66.4 million shares worth VND715.92 billion changed hands. Foreign investors net sold VND3.6 billion this morning.

Meanwhile, the UPCoM-Index of unlisted shares shed 0.3 points, or 0.92 percent, to 32.48 points. A total of 191,612 shares changed hands at a value of VND1.71 billion as of 2:42 pm local time.

By Phong Linh

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