Equities slump as investors disheartened

Stocks on Ho Chi Minh City Stock Exchange sank to near a three-week low on November 9 as investors dumped shares heavily to cut losses.

Vietnam’s benchmark, VN-Index, which tracks 300 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange, shrank 0.83 percent, or 3.41 points, to close at 405.19 points, the lowest level since October 21.

Among the index members, 74 climbed, 139 fell, while 92 remained unchanged.

Trading on the city bourse dropped by 19 percent in volume, and 10 percent in value over the previous trading session, as 24.3 million shares changed hands at a total value of VND502 billion.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) won the spot of most active share in volume with 1.81 million shares changing hands.

Becamex Infrastructure Development Joint Stock Company (IJC) followed with 745,140 shares traded.

Military Commercial Joint Stock Bank (MBB) chased after with 740,500 shares.

Bien Hoa Sugar Joint Stock Company (BHS) plummeted 40.12 percent to finish at VND19,400. The company will advance dividends for this year to its current shareholders in cash at a ratio of 20 percent since November 30. Moreover, it will also issue 11,468,380 shares to reward its current shareholders at a ratio of 61.88 percent per share.

Viky Plastic Joint Stock Company (VKP) erased 7.14 percent to close at VND1,300.

Viet Nhat Medical Instrument Joint Stock Company (JVC) declined for three consecutive days, removing 4.9 percent to close at VND13,600.

Saigon Telecommunication & Technologies Corporation (SGT) and Thien Long Group Corporation (TLG) both gained 5 percent to close at VND23,100, and VND14,700.

Vinh Hoan Corporation (VHC) surged 4.95 percent to close at VND33,900.

Son Ha International Corporation (SHI) rebounded 4.94 percent to VND8,500.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north trimmed 0.81 percent, or 0.53 points, to finish at a record low of 64.6 points. Around 24.84 million shares changed hands at a value of VND255.83 billion.

The UPCoM-Index of unlisted shares revived 0.44 percent, or 0.13 points, to 29.94 points at 11:30 am Vietnamese time. A total of 184,950 shares changed hands at a value of VND1.4 billion.

By Thuy Doan

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