VN-Index plunges as support vanishes

Vietnam’s benchmark VN-Index collapsed the third day on December 8 as several stocks declined amid growing uncertainties.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange wrecked 1.44 percent, or 5.58 points, to close at 381.63 points.

Of the index, 85 stocks gained, 143 lost, while 78 remained unchanged.

Trading on the city bourse improved by 35 percent in volume, and 55 percent in value over the previous day as nearly 41.7 million shares changed hands at a total value of VND630 billion.

Ocean Group Joint Stock Company (OGC) topped the list of most active shares in volume with 1.34 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) followed with 1.21 million shares.

Licogi 16 Joint Stock Company (LCG) took the third rank with 944,960 shares traded.

Viky Plastic Joint Stock Company (VKP) plummeted 8.33 percent to close at VND1,100.

Basa Joint Stock Company (BAS) went south for three straight trading session, losing 5.56 percent to close at VND1,700.

Binh Thanh Import - Export Production & Trade Joint Stock Company (GIL) weakened 5.03 percent to VND30,200.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) and Vietnam Active Fund (VFMVFA) both surged 5 percent to VND4,200.

Song Da Urban & Industrial Zone Investment & Development Joint Stock Company (SJS) moved forward for six consecutive trading sessions, speeding up 4.88 percent to VND21,500.

Thuan An Wood Processing Joint Stock Company (GTD) strengthened 4.76 percent to close at VND6,600.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north made a contrast move, recovering 0.13 percent, or 0.08 points, to close at 62.59 points. Around 25.34 million shares changed hands at a value of VND238.45 billion.

The UPCoM-Index of unlisted shares jumped 1.54 percent, or 0.52 points, to 34.3 points at 1:48 pm Vietnamese time. A total of 120,250 shares changed hands at a value of VND1.43 billion.

By Thuy Doan

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