Stocks open year on sour note

Vietnam’s benchmark VN-Index closed down in the first trading session of the New Year on January 3 as large-cap stocks lost ground amid growing uncertainty.

The shares of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange deleted 0.44 percent, or 1.55 points, to close at 350 points.

Among the index members, 123 advanced, 95 retreated, while 88 remained unchanged.

Trading on the city bourse dropped by 63 percent in volume, and 60 percent in value over the previous day as 20.64 million shares changed hands at a total value of VND320 billion.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 957,240 shares changing hands.

Becamex Infrastructure Development Joint Stock Company (IJC) followed with 629,590 shares.

Viet Nhat Medical Instrument Joint Stock Company (JVC) remained at third place with 615,160 shares traded.

Viky Plastic Joint Stock Company (VKP) slashed 11.11 percent to close at VND800.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) eroded 5.88 percent to close at VND1,600.

Ocean Group Joint Stock Company (OGC), HAI Agrochem Joint Stock Company (HAI), Phu Tai Joint Stock Company (PTB), and PVC Petro Capital & Infrastructure Investment Joint Stock Company (PTL) all tumbled 5 percent to VND7,600, VND22,800, VND11,400, and VND3,800 respectively.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) jumped 7.14 percent to VND1,500.

Ninh Van Bay Travel Real Estate Joint Stock Company (NVT) and Saigon Beverages Joint Stock Company (TRI) both reclaimed 5.26 percent to finish at VND2,000.

Chuong Duong Beverages Joint Stock Company (SCD), Sea & Air Freight International (SFI), Thac Ba Hydropower Joint Stock Company (TBC), and Binh Thuan Hamico Mineral Joint Stock Company (KSA) all rose 5 percent to close at VND12,600, VND12,600, VND10,500, and VND4,200 respectively.

Hanoi’s HNX-Index of the smaller bourse in the north collapsed 3.32 percent, or 1.95 points, to close at 56.79 points. Around 14.71 million shares changed hands at a value of VND117.72 billion.

Meanwhile, the UPCoM-Index of unlisted shares shed 0.33 percent, or 0.11 points, to close at 33.65 points. More than 2.16 million shares changed hands at a value of VND104.03 billion.

By Thuy Doan

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