VN-Index loses momentum on growing uncertainty

Vietnam’s benchmark VN-Index resumed losing momentum on December 29 as investors were wary amid rising uncertainty.

The index of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slipped 0.04 percent, or 0.15 points, to close at 350.51 points.

Of the benchmark, 102 stocks gained, 132 lost, while 72 remained unchanged.

Trading on the city bourse dropped 16 percent in volume, and 34 percent in value over the previous day as 48.34 million shares changed hands at a total value of VND557 billion.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 2.16 million shares changing hands.

It was followed by Ocean Group Joint Stock Company (OGC) with 1.67 million shares.

Viet Nhat Medical Instrument Joint Stock Company (JVC) came in third with 1.34 million shares traded.

Saigon Beverages Joint Stock Company (TRI) slumped 5.26 percent to close at VND1,800.

Cosmetics producer SPM Joint Stock Company (SPM) declined 5 percent to close at VND47,500.

Materials - Petroleum Joint Stock Company (COM) closed down 4.96 percent to VND26,800.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) capped its six-day losing streak, recovering 7.69 percent to VND1,400.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) strengthened 6.25 percent to finish at VND1,700.

Bank for Investment & Development of Vietnam Securities Company (BSI), Truong Long Auto & Technology Joint Stock Company (HTL), and HUD3 Investment and Construction Joint Stock Company (HU3) all added up 5 percent to VND6,300, VND8,400, and VND10,500 respectively.

Hanoi’s HNX-Index of the smaller bourse in the north slashed 0.93 percent, or 0.54 points, to close at 57.61 points. Around 27.5 million shares changed hands at a value of VND238.77 billion.

Meanwhile, the UPCoM-Index of unlisted shares dumped 0.77 percent, or 0.26 points, to 33.67 points at 2:20pm local time. More than 6.81 million shares changed hands at a value of VND307.29 billion.

By Thuy Doan

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