Stocks sink as confidence drops

Vietnam’s benchmark VN-Index unexpectedly plunged on November 24 as investors were wary after data showed that CPI rose 0.39 percent in November, higher than forecast.

The gauge of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange collapsed 1.75 percent, or 6.79 points, to close at 381.78 points.

Among the index members were 59 winners, 171 losers, while 76 stocks remained unchanged.

Trading on the city bourse fell by 12 percent in volume and 15 percent in value over the previous day as around 29.2 million shares changed hands at a total value of VND439 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank led the list of most active shares in volume for seven consecutive trading sessions with 2.54 million shares changing hands.

Hung Vuong Joint Stock Corporation (HVG) took second place with 817,280 shares traded.

Hoa Phat Group Joint Stock Company (HPG) finished third with 758,200 shares.

Viky Plastic Joint Stock Company (VKP) slumped 14.29 percent to VND600.

Saigon Beverages Joint Stock Company (TRI) contracted 5.26 percent to VND1,800.

Other losers included Duc Thanh Wood Processing Joint Stock Company (GDT), Binh Thuan Hamico Mineral Joint Stock Company (KSA) and Hamico Mineral Group (KSH).

Ben Tre Forestry & Aqua Products Import Export Joint Stock Company (FBT) strengthened 4.92 percent to close at VND6,400.

Cotec Construction Joint Stock Company (CTD) climbed the seventh consecutive trading session, accelerating 4.84 percent to close at VND26,000.

Dong Thap Trading Corporation (FDG) rose 4.83 percent to close at VND15,200.

The Hanoi HNX-Index of the smaller bourse in the north erased 1.32 percent, or 0.82 points, to close at 61.27 points. Around 19.36 million shares changed hands at a value of VND175.79 billion.

Meanwhile, the UPCoM-Index of unlisted shares jumped 2.15 percent, or 0.64 points, to 30.34 points at 1:35 pm Vietnamese time. A total of 139,868 shares changed hands at a value of VND1.08 billion.

By Thuy Doan

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