VN-Index declines second day on pessimistic sentiment

Despite an effort by large-cap stocks to prevent the index from falling, Vietnam’s benchmark VN-Index failed to make a U-turn due to strong selling pressure on April 14.

The shares of 283 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slid 0.08 percent, or 0.38 points, to close at 460.63 points.

On the index, 57 stocks advanced, 142 declined, while 89 remained unchanged.

Trading volume on the city bourse slightly dropped over the previous trading session as 24.3 million shares changed hands at a value of VND496 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 3.1 million shares changing hands.

It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 680,240 shares.

Licogi 16 Joint Stock Company (LCG) came next with 587,390 shares traded.

HUD3 Investment and Construction Joint Stock Company (HU3), and Vien Dong Pharmaceutical Joint Stock Company (DVD) both plummeted the daily maximum allowed limit of 5 percent to close at VND17,100, and VND11,400 respectively.

Tan Binh Import Export Joint Stock Corporation (TIX) curbed its three-day winning streak, eroding 4.82 percent to close at VND39,500.

Lu Gia Mechanical Electric Joint Stock Company (LGC) and Binh Chanh Construction Investment Shareholding Company (BCI) both slumped 4.81 percent to close at VND25,700.

PetroVietNam IDICO Long Son Industrial Park Investment Joint Stock Company (PXL) rebounded 5 percent to close at VND6,300.

Viet Thang Aquafeed (VTF) edged up 4.84 percent to VND13,000.

Masan Group (MSN) recovered 4.82 percent to VND87,000.

The Hanoi’s HNX-Index of the smaller in the north contracted 0.39 percent, or 0.35 points, to close at 89.07 points. Trading volume significantly fell over the previous trading session as 17.99 million shares worth VND266 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares tripped 0.26 points to 36.55 points this morning. A total of 350,000 shares changed hands at a value of VND1.9 billion.

Hoang Nhan

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