Stocks lose ground on low demand

Vietnam’s benchmark VN-Index declined on July 21 as investors hesitated after Hanoi and Ho Chi Minh cities reported rising inflation in July, fueling concern over tight monetary policy in the upcoming period.

The shares of 293 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange dropped 0.89 percent, or 3.71 points, to close at 413.06 points.

Among the index members, there were 74 gainers, 141 losers, while 83 remained unchanged.

Trading on the city bourse fell by 14 percent in both volume and value over the previous trading session as 18.3 million shares changed hands at a value of VND346 billion.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) was the most active share by volume with 1.23 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, tagged along with 1.22 million shares.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) came in third with 929,140 shares traded.

Full Power Joint Stock Company (FPC) and Saigontourist Transport Corporation (STT) both collapsed the daily maximum allowed limit of 5 percent to VND1,900 and VND11,400 respectively.

Century 21 Joint Stock Company (C21), which was officially traded on the city bourse on July 15, extended its losing streak to four straight days, giving up 4.98 percent to VND22,900.

Chuong Duong Beverages Joint Stock Company (SCD) sank 4.97 percent to VND17,200.

Godaco Seafood Joint Stock Company (AGD) grew for three consecutive days, accelerating 4.97 percent to VND16,900.

Transport Engineering Construction & Business Investment Joint Stock Company 584 (NTB) and Vietnam Land Investment Corporation (VNI) both rebounded 4.94 percent to VND8,500.

Bac Giang Exploitable Mineral Joint Stock Company (BGM) curbed its seven-day losing run, reviving 4.81 percent to VND10,900.

The Hanoi’s HNX-Index of the smaller in the north slumped 0.47 percent, or 0.34 points, to close at 71.35 points. Trading on the northern market fell by nearly 22 percent in both volume and value over the previous trading session as 17.48 million shares changed hands at VND195.7 billion.

The UPCoM-Index of unlisted shares erased 0.25 percent, or 0.08 points, to 32.01 points. A total of 152,275 shares changed hands at a value of VND1.04 billion as of 1:50 pm local time.

By Sao Khue

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