VN-Index sinks below 450

Vietnam’s benchmark VN-Index tumbled on November 9 as domestic gold price jumped to VND38.2 million a tael (1.2 ounces), prompting investors to dump their holdings despite low prices.

The measure of 267 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange collapsed 1.69 percent, or 7.73 points, to finish at 449.4 points.

Trading volume strongly improved over the previous day as nearly 42 million shares changed hands at VND1.11 trillion for the first time in more than one month.

On the index, 23 stocks advanced, 222 dropped, while 27 were unmoved.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) topped the list of most active shares in volume with 1.94 million shares changing hands.

It was followed by Ocean Group Joint Stock Company (OGC), which saw 1.38 million shares being traded.

Sugar producer Société De Bourbon Tay Ninh (SBT) finished third with 1.24 million shares.

OPC Pharmaceutical Joint-Stock Company (OPC), Thien Nam Trading Import Export Corporation (TNA) and Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) all slumped the maximum allowed limit of 5 percent to VND38,000, VND28,500, and VND13,300 respectively.

Binh Dinh Minerals Company (BMC) and Ha Do Group Joint Stock Company (HDG) both declined 4.94 percent to VND25,000 and VND77,000 respectively.

Lix Detergent Joint Stock Company (LIX) rebounded 5 percent VND63,000.

Viet Thang Aquafeed Joint Stock Company (VTF) climbed 4.71 percent to VND17,800.

Long Hau Corporation (LHG) surged 3.62 percent to trade at VND51,500.

The Hanoi’s HNX-Index contracted 2.9 points, or 2.64 percent, to 106.83 points. Around 26.1 million shares traded at VND493.63 billion.

The UPCoM-Index tripped 0.6 points to 40.89 points this morning. After a sudden rise the previous day, trading volume on the floor of unlisted shares returned to normal level. A total of 183,813 shares changed hands at VND2.75 billion.

By Thuy Doan

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