VN-Index extends losing trend

Vietnam’s benchmark VN-Index dropped the second day on January 4 as investors continued to sell off shares to cut losses on fear of further decline.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange lost 0.33 percent, or 1.16 points, to close at 348.84 points.

Among the index members, 96 climbed, 112 submerged, while 98 remained unchanged.

Trading on the city bourse improved by 23 percent in volume, and 8 percent in value over the previous day as 25.45 million shares changed hands at a total value of VND345 billion.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 2.84 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) followed with 1.34 million shares.

Viet Nhat Medical Instrument Joint Stock Company (JVC) stayed at third place with 1.13 million shares traded.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) reversed 6.67 percent to close at VND1,400.

Other losers included CMC Corporation (CMG), Saigon Vien Dong Technology Joint Stock Company (SVT), and Vietnam Sea Transport & Chartering Joint Stock Company (VST).

Cadovimex Seafood Import-Export & Processing Join Stock Company (CAD) regained 6.25 percent to close at VND1,700.

Saigon Beverages Joint Stock Company surged the third day, escalating 5 percent to VND2,100.

SPM Joint Stock Company (SPM) emerged 4.84 percent to finish at VND49,800.

Hanoi’s HNX-Index of the smaller bourse in the north chopped 0.63 percent, or 0.36 points, to close at 56.43 points. Around 14.71 million shares changed hands at a value of VND117.72 billion.

Meanwhile, the UPCoM-Index of unlisted shares slipped 0.21 percent, or 0.07 points, to 33.58 points at 1:10pm local time. More than 25,445 shares changed hands at a value of VND95 million.

By Thuy Doan

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