VN-Index drops on taking profit

The Vietnam’s benchmark VN-Index sharply dropped on June 3 as a six-day-winning streak prompted investors to sell stocks to take profits.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slumped 1.59 percent, or 7.18 points, to close at 443.41 points.

Among the index members, 71 advanced, 158 retreated, while 60 remained unchanged.

Trading on the city bourse improved by 39 in volume and 34 percent in value over the previous trading session as 47.64 million shares changed hands at a value of VND913 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, won the spot of most active share by volume with 5.99 million shares changing hands.

Refrigeration Electrical Engineering Corporation (REE) tagged along with 3.05 million shares.

Investment and Trading Of Real Estate Joint Stock Company (ITC) followed with 1.47 million shares.

Phuong Nam Cultural Joint Stock Corporation (PNC) shrank 6.56 percent to close at VND5,700.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) collapsed 5 percent to VND26,600.

Traphaco Joint Stock Company (TRA) plunged 4.97 percent to VND44,000.

Mien Trung Petroleum Construction Joint Stock Company (PXM) and Viet Nam Land Investment Corporation (VNI) both jumped 5 percent to VND6,300, and VND8,400 respectively.

Thien Long Group Corporation (TLG) climbed the second day, speeding up 4.98 percent to VND25,300.

Da Nang Construction Building Materials & Cement Joint Stock Company (DXV) soared the third day, surging 4.92 percent to VND6,400.

The Hanoi’s HNX-Index of the smaller in the north also slid 0.24 percent, or 0.18 points, to close at 73.87 points. Trading volume strongly improved over the previous trading session as 68.32 million shares worth VND762 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares rose 0.17 points to 33.02 points this morning. A total of 96,600 shares changed hands at a value of VND1.12 billion.

By Phong Linh

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