Bearish sentiment pins Vietnam’s benchmark at six-week low

Stocks on the Ho Chi Minh City Stock Exchange slid on July 15, hauling Vietnam’s benchmark VN-Index to the lowest level in the past six weeks as investors continued to sell off to avert risks.

The shares of 289 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange collapsed 1 percent, or 4.19 points, to close at 414.74 points.

The gauge lost 3 percent this week, increasing this year’s loss to 14.5 percent.

Across the electronic board, 68 stocks climbed, 134 dropped, while 93 remained unchanged.

Trading on the city bourse fell by 19 percent in volume, and 18 percent in value over the previous trading session as 19.34 million shares changed hands at a value of VND384 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, was the most active share in volume for seven consecutive trading sessions with 1.72 million shares changing hands.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) took the second rank with 1.7 million shares traded.

Ocean Group Joint Stock Company (OCG) finished third with 831,380 shares traded.

Viet Nhat Medical Instrument Joint Stock Company (JVC) and Thac Mo Hydro Power Joint Stock Company (TMP) plunged the daily maximum allowed limit of 5 percent to close at VND13,300 and VND9,500 respectively.

Binh Duong Mineral & Construction Joint Stock Company (KSB) declined the second day, giving up 4.89 percent to close at VND44,700.

Domesco Medical Import Export Joint Stock Corporation (DMC) extended its losing streak to three consecutive days, cutting 4.86 percent to VND23,500.

Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) snapped its seven-day losing run, restoring 4.95 percent to VND40,300.

Viet An Joint Stock Company (AVF) and Bien Hoa Sugar Joint Stock Company (BHS) both jumped 4.92 percent to VND12,800 and VND32,000 respectively.

Everpia Vietnam Joint Stock Company (EVE) accelerated 4.91 percent to close at VND36,300.

The Hanoi’s HNX-Index of the smaller in the north declined for three days in a row, closing down 0.47 percent, or 0.34 points, to wrap week at 71.54 points. Trading volume on the northern market sank to a record low as only 16 million shares changed hands at VND168.72 billion.

The UPCoM-Index of unlisted shares subtracted 0.58 percent, or 0.19 points, to 32.36 points. A total of 198,130 shares changed hands at a value of VND1.27 billion.

By Cat Tuong

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