Stocks fall at investors flee from market

Vietnam’s benchmark VN-Index tumbled the most in the past two months on November 1 as investors sold off shares on speculation that losing trend has returned on the market.

The shares of 299 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange plummeted 1.66 percent, or 6.99 points, to close at 413.82 points.

Last month, the index lost 1.6 percent, adding this year’s loss to nearly 15 percent.

Across the benchmark, 41 stocks climbed, 191 dropped, while 72 remained unchanged.

Trading on the city bourse improved by 18 percent in volume, and 24 percent in value as more than 44.89 million shares changed hands at a total value of VND722 billion.

The newly listed Military Commercial Joint Stock Bank (MBB) won the spot of most active share in volume with 2.71 million shares changing hands.

Becamex Infrastructure Development Joint Stock Company (IJC) remained at the second rank with 1.79 million shares.

Ocean Group Joint Stock Company (OGC) finished third with 1.7 million shares traded.

Materials - Petroleum Joint Stock Company (COM) and Transforwarding Warehousing Corporation Ho Chi Minh City (TMS) both demolished the daily maximum allowed limit of 5 percent to close at VND30,400, and VND17,100 respectively.

South Logistics Joint Stock Company (STG) slid 4.92 percent to close at VND23,200.

Bao Viet Holdings (BVH) sank 4.9 percent to finish at VND68,000.

Hoi An Tourist Service Joint Stock (HOT) and Viet Nhat Seafood Corporation (VNH) retrieved 5 percent to close at VND21,000, and VND4,200 respectively.

Chang Yih Ceramic Joint Stock Company (CYC) saved 4.76 percent to VND2,200.

Saigon Vien Dong Technology Joint Stock Company (SVT) edged up for three consecutive days, enhancing 4.65 percent to VND9,000.

The Hanoi’s HNX-Index of the smaller bourse in the north also nosedived 2.41 percent, or 1.69 points, to finish at 68.52 points. Around 37.2 million shares changed hands at a value of nearly VND396 billion.

Meanwhile, the UPCoM-Index of unlisted shares cut 0.52 percent, or 0.16 points, to 30.51 points at 1:40 pm local time. A total of 176,218 shares changed hands at a value of VND1.42 billion.

By Thuy Doan

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