VN-Index slides under selling pressure

Vietnam’s benchmark VN-Index slightly dropped on April 1 as investors reduced their holdings to avert risks amid rising inflation.

The shares of 283 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange peeled 0.43 percent, or 1.96 points, to close at 459.17 points.

There were 79 gainers, 122 losers on the trading floor today while 87 stocks were unchanged.

Trading on the city bourse was down by 16 percent in volume and 9 percent in value over the previous trading session as 23.35 million shares changed hands at a value of VND491 billion.

Refrigeration Electrical Engineering Corporation (REE) was the most active share in volume with 1.59 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, dropped to second place with 1.28 million shares.

Investment and Trading of Real Estate Joint Stock Company (ITC) finished third with 721,040 shares.

Electronics Communications Technology Investment Development Corporation (ELC) tumbled the daily maximum allowed limit of 5 percent to close at VND34,200.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) cropped 4.84 percent to VND11,800.

Cuu Long Petro Urban Development & Investment Corporation (CCL) dumped 4.83 percent to VND13,800.

HAI Agrochem Joint Stock Company (HAI) and Viky Plastic Joint Stock Company (VKP) both rebounded 5 percent to close at VND31,500 and VND4,200 respectively.

Vien Dong Pharmaceutical Joint Stock Company (DVD) fortified 4.93 percent to VND14,900.

Binh Dinh Minerals Company (BMC) enlarged 4.86 percent to VND30,200.

The smaller in the north declined for four consecutive trading sessions as the Hanoi’s HNX-Index sank 0.46 percent, or 0.42 points, to close at 91.05 points. Trading volume slightly fell over the previous day as 22.67 million shares worth VND336 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares slid 0.1 points to 37.14 points this morning. A total of 160,000 shares changed hands at a value of VND1.6 billion as of 11:20 am local time.

By Thuy Doan

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