Market closes down for second day straight

Vietnam’s benchmark VN-Index on March 17 slid for the second day in a row.

The index of 212 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange fell 1.01 percent, or 5.23 points, to finish at 510.85.

Trading volume was at around 51.3 million shares, worth VND2.24 trillion.

Among the index members, 37 gained, 146 dropped and 33 remained unchanged. Most blue chips closed down.

Cavico Viet Nam Mining and Construction Joint Stock Company (MCV) led the list of decliners, closing down 4.98 percent to VND19,100.

Next was Phuc Tien Trade Manufacture Joint Stock Company (PHT), which gave up 4.97 percent to VND28,700; followed by Ho Chi Minh City Metal Corporation (HMC) and Tien Len Steel Corporation Joint Stock Company (TLH). Both lost 4.9 percent to VND19,400 and VND33,000 respectively.

The top three active stocks in volume saw Refrigeration Electrical Engineering Corporation (REE) top the list with more than 3.53 million shares traded on the city bourse. The maker of air conditioners and electrical appliances added up 4.17 percent to VND50,000.

Saigon Commercial Bank or Sacombank (STB), which dropped 0.87 percent to VND22,900, was next having more than 2.66 million shares traded, followed by Saigon Securities Inc. (SSI) which saw 1.91 million shares change hands at VND88,000. The country’s largest brokerage based in HCM City finished down 1.12 percent over Tuesday.

Ben Tre Forestry and Aquaproduct Import Export Joint Stock Company (FBT) was the biggest gainer, increasing 4.93 percent to VND14,900.

Other big gainers included South Logistics Joint Stock Company (STG), and Hanoi-based Information and Networking Technology Joint Stock Company (CMT), which closed up 4.9 percent, and 4.81 percent respectively.

Hanoi’s HNX-Index fell 0.45 points, or 0.27 percent, to close at 168.22. Around 30 million shares, worth VND1.01 trillion changed hands.

By Dong Nghi

Other news