Market moves down as investors dump holdings

The Vn-Index, which tracks 210 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, slid for the first time after a huge rally for five consecutive sessions on March 10.

The benchmark finished at 525.67, losing 0.3 percent, or 1.6 points over Tuesday. More than 57.89 million shares worth over 2.6 trillion changed hands.

Of the index, 77 stocks gained, 102 declined, and 35 were unchanged. Steel and seafood groups saw many stocks with large gains. Fuel, rubber, and pharmaceutical groups also attracted investors’ attention. Meanwhile, most banking shares sank or stalled instead of backing the market as they did yesterday.

Furniture manufacturer and exporter Savimex Corporation (SAV), which gave up the maximum daily limit of 5 percent to VND38,000, was the biggest loser, followed by electric light producer Dien Quang JSC (DQC) and Vinalink International Freight Forwarders (VNL) and the Hanoi-based Long Giang Investment and Urban Development JSC (LGL).

Thuan An Wood Processing JSC (GTA) and household-goods producer Son Ha International Corp. (SHI) added up the maximum allowed level of 5 percent to VND12,600 and VND31,500.

Shipper Gemadept Corp. (GMD) was the most active share in volume with more than 3.4 million shares traded at VND84,500. The Saigon Thuong Tin Commercial Bank or Sacombank (STB) came next with more than 2.4 million shares traded at a 0.42 percent down or VND23,900, followed by Saigon Securities Inc. (SSI) with nearly 2 million shares. The country’s largest brokerage lost 1.08 percent to VND91,500.

Hanoi’s HNX-Index also stayed red, falling to 172.09, down 0.61 points, or 0.35 percent. Around 38 million shares were traded at VND1.28 trillion.

The UpCoM-Index lost 0.13 points, or 0.29 percent, to finish at 45.32. A total of 81,872 shares changed hands at VND1.3 billion.

By Hoang Nhan

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