VN-Index loses ground due to profit-taking

Vietnam’s benchmark VN-Index snapped eight-day winning streak on January 24 as uptrend-driving Bao Viet Holdings (BVH) and Ma San Group Corporation (MSN) tumbled amid investors dumped shares heavily to take profits.

The gauge of 279 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slumped 1.85 percent, or 9.62 points, to finish at 509.88 points.

Among the index members, 42 strengthened, 194 shrank, while 48 remained unchanged.

Trading volume on the city bourse fell by 10 percent over the previous trading session as just around 38.33 million shares changed hands at a value of VND1.03 trillion this morning.

Saigon Securities Inc. (SSI), the country largest brokerage, continued to be the most active share in volume with 2.41 million shares changing hands.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) tagged along with 1.97 million shares changing hands.

Viet Nam Joint Stock Commercial Bank for Industry and Trade (CTG) ranked third with 1.47 million shares traded.

 Construction company Lilama 10 Joint Stock Company (L10) nosedived for second day, eroding the maximum allowed limit of 5 percent to VND20,900.

Long Hau Corporation (LHG) and newly listed steel producer Nam Kim Steel Joint Stock Company (NKG) both eliminated 4.99 percent to VND40,000 and VND32,400 respectively.

Royal International Corporation (RIC) reduced 4.97 percent to VND17,200.

Duc Long Gia Lai Group Joint Stock Company (DLG) advanced for three straight trading sessions, gaining 4.9 percent to VND30,000.

Joint Stock Commercial Bank for Foreign Trade of Viet Nam or Vietcombank (VCB) grew 4.85 percent to VND34,600.

Vietnam Dairy Products Joint Stock Company or Vinamilk (VNM) soared 4.81 percent to VND98,000.

Meanwhile, the smaller bourse in the north also made correction as the Hanoi’s HNX-Index collapsed 1.53 percent, or 1.65 points, to close at 106.22 points. Trading volume improved over the previous trading session as nearly 26.5 million shares were traded at nearly VND483.8 billion.

The UPCoM-Index inched up 0.34 points to 44.12 points. A total of 240,000 shares changed hands at VND3 billion as of 11:10am local time.

By Thuy Doan

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