Stocks drop as investors hesitate

Vietnam’s benchmark VN-Index declined to the lowest level in the past two weeks on September 20 as more than half of listed shares on the city bourse dropped.

The measure which tracks 296 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange tumbled 1.58 percent, or 7.31 points, to close at 454.37 points.

Of the index, 55 stocks gained, 193 fell, while 53 remained unchanged.

Trading on the city bourse slightly dropped in volume and value over the previous day as around 46.15 million shares changed hands at a value of VND886.72 billion.

Becamex Infrastructure Development Joint Stock Company (IJC) continued to be the most active share in volume for the second day with 2.2 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) ranked second with 1.98 million shares traded.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came next with 1.28 million shares.

Viky Plastic Joint Stock Company (VKP) slashed 5.88 percent to VND1,600.

Other losers included Materials - Petroleum Joint Stock Company (COM), Huu Lien Asia Corporation (HLA), and Ocean Group Joint Stock Company (OGC).

Newly listed company Lao Cai Mineral Exploitation & Processing Joint Stock Company (LCM) rebounds 5 percent to close at VND25,200.

Transforwarding Warehousing Corporation Ho Chi Minh City (TMS) recovered 4.69 percent to VND20,100.

Hoi An Tourist Service Joint Stock (HOT) climbed for four straight trading sessions, building up 4.52 percent to VND18,500.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north eliminated 2.14 percent, or 1.63 points, to finish at 74.38 points. Trading on the northern floor lightly improved over the previous day as 42.41 million shares changed hands at a value of VND489.7 billion.

The UPCoM-Index of unlisted shares also slid 0.6 percent, or 0.19 points, to 31.25 points. A total of 114,500 shares changed hands at a value of VND557 million at 2:15 pm local time.

By Yen Oanh

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