VN-Index opens week on low note

Vietnam’s benchmark VN-Index struggled to prevent a sharp decline on November 22 thanked to increasing bottom fishing demand at the end of the trading session.

After the opening bell, as the consumer price index of Hanoi and Ho Chi Minh cities climbed at a highest pace since the beginning of this year, investors dumped shares heavily on concerns that inflation would be higher than forecast.

Meanwhile, other investors fostered buying cheap stocks, generating an important support for the measure.

The gauge of 269 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slid 0.08 percent, or 0.32 points, to close at 426.19 points.

On the measure, 46 stocks gained, 172 decreased, while 56 remained unchanged.

Around 30.13 million shares changed hands at a value of VND680 billion.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) topped the list of most active shares in volume with 1.71 million shares changing hands.

It was followed by Tan Tao Investment Industry Corporation (ITA) with 1.19 million shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came next with 952,840 shares traded.

An Pha Petroleum Group Joint Stock Company (ASP), which slashed the daily maximum allowed limit of 5 percent to VND7,600, was the biggest loser on the city bourse today.

Savimex Corporation (SAV) deleted its previous gains, contracting 4.93 percent to trade at VND28,900.

Thien Nam Trading Import Export Corporation (TNA) fell for the second day, losing 4.9 percent to VND23,300.

Ngo Han Joint Stock Company (NHW) advanced the first time in five days, jumping 4.97 percent to VND16,900.

Ben Tre Forestry and Aquaproduct Import Export Joint Stock Company (FBT) leaned forward 4.76 percent to VND8,800.

Binh Duong Mineral and Construction Joint Stock Company (KSB) edged up 4.72 percent to VND55,500.

Meanwhile, the Hanoi-based HNX-Index plummeted 1.25 percent, or 1.24 points, to finish at 97.86 points. Around 27.8 million shares were traded at nearly VND500 billion.

The UPCoM-Index of the unlisted shares market retreated 0.65 points to 39.75 points. A total of 144,700 shares changed hands at VND1.63 billion as of 11 am local time.

By Thuy Doan

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