VN-Index slumps second day on eroding confidence

Vietnam’s benchmark VN-Index tumbled on August 24 as investors lost confidence although gold price dropped and CPI also declined to below 1 percent in August.

The index of 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange slashed 1.15 percent, or 4.6 points, to close at 396.68 points.

On the benchmark, 75 stocks surged, 137 submerged, while 88 treaded water.

Trading volume on the city bourse slightly fell over the previous day as around 27.5 million shares changed hands at a value of VND477 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, stayed at the position of most active share by volume for five consecutive trading sessions with 1.87 million shares traded.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) followed with 1.48 million shares.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) ranked third with 1.16 million shares changing hands.

Hoi An Tourist Service Joint Stock (HOT) sank 4.96 percent to close at VND13,400.

Cuu Long Petro Urban Development & Investment Corporation (CCL) moved backward for three straight trading sessions, giving up 4.9 percent to VND9,700.

Ba Ria Thermal Power Joint Stock Company (BTP) decreased 4.88 percent to close at VND3,900.

Vietnam Golf Tourism Joint Stock Company (VNG) snapped its six-day losing streak, rebounding the daily maximum allowed limit of 5 percent to VND14,700.

Traphaco Joint Stock Company (TRA) reversed 4.98 percent to close at VND42,200.

Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) restored 4.81 percent to finish at VND45,800.

The Hanoi’s HNX-Index of the smaller bourse in the north trimmed 0.5 percent, or 0.35 points, to finish at 69.08 points. Trading on the northern floor sharply dropped over the previous day as 37.74 million shares changed hands at a value of nearly VND426.54 billion.

Meanwhile, the UPCoM-Index of unlisted shares inched up 0.1 percent, or 0.03 points, to 30.79 points. A total of 150,456 shares changed hands at a value of VND1.18 billion as of 2:15 pm local time.

By Trong Tue

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