VN-Index drops to below 570

With cautiousness still lingering on the Vietnam’s stock market, foreign investors continued to net sell VND 84 billion, causing the market to drop for second straight trading session after New Year on January 5.
The benchmark VN-Index fell 4.47 points, or 0.78 percent, to close at 569.64 points with 67 winners, 138 losers while 103 stocks remained unchanged. Trading volume reached 104 million shares worth nearly VND1.55 trillion.

The VN30-Index declined 6.29 points, or 1.07 percent, to 583.62 points. Trading volume nearly touched 39.5 million shares worth VND749.7 billion.

Meanwhile, the HNX-Index of the smaller bourse in the north plummeted 1.02 points, or 1.29 percent, to finish at 78.43 points. Of the index, 67 stocks increased, 131 decreased, while 181 were unmoved. Trading volume was at 43.6 million shares worth VND461 billion.

The HNX30-Index also slumped 1.95 points, or 1.39 percent, to 138.11 points. Trading volume was 13 million shares worth nearly VND125.9 billion.

The UpCoM-Index contracted 0.39 points, or 0.76 percent, to 50.47 points. Trading volume reached 3.7 million shares worth VND61 billion.
Vu Bang, chairman of the State Securities Commission of Vietnam, said that the country’s stock market could not avoid the impact of volatility in Chinese stock markets, however, it was insignificant. He cited that although the market slightly dropped on January 4, liquidity still increased which shows local and foreign investors’ great confidence in Vietnamese stock markets. He predicted that the movements of China’s economy in the future will cause certain impacts on other countries’ stock markets, including Vietnam.

By Staff writer – Translated by Thuy Doan

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