Stocks slip to near 500 points

The Ho Chi Minh Stock Exchange retreated on March 30 despite a rally on the US stock markets. Liquidity was significantly improved.

Vietnam’s benchmark VN-Index of 215 companies and four mutual funds fell 4.95 points, or 0.97 percent, to finish at 500.72. Most blue-chips declined while penny-chips climbed.

Of the index, 59 shares gained, 129 tumbled, and 32 were unchanged. Around 59.87 million shares were traded at VND2.24 trillion.

Truong Thanh Furniture Corporation (TTF), located in the southeast province of Binh Duong, and Vinalink International Freight Forwarders (VNL) led the list of losers. Both gave up the 5 percent daily limit to VND30,400 and VND19,000 respectively.

The furniture maker will hold its annual shareholders meeting on April 22 this year. Ta Thi Vu Van, related to Ta Van Nam, a member of the company’s Board of Directors, sold 15,000 holdings on February 25 this year without making a declaration.

The Hanoi-based Dong Do Marine Joint Stock Company, meanwhile, saw 4.96 percent of its share value trading at VND13,400.

Cables and Telecommunications Material Joint Stock Company (SAM), which added up 0.63 percent, was the most active share in volume as more than 4.8 million shares changed hands at VND32,100.

Saigon Commercial Bank, or Sacombank (STB), followed with 2.43 million shares traded at VND21,800. The bank’s shares continued to lose 1.36 percent today.

Sugar maker Société De Bourbon Tay Ninh (SBT) saw around 1.9 million shares of the company traded.

The biggest winners included Cavico Viet Nam Mining and Construction Joint Stock Company (MCV), Sai Gon Garment Manufacturing Trade Joint Stock Company (GMC), and Construction and Materials Trading Joint Stock Company (CNT).

The smaller bourse in the north also stayed red as Hanoi’s HNX-Index slid 0.84 percent, or 1.38 points, to close at 162.37. Around 27.7 million shares, worth VND906.8 billion changed hands.
The index of the over-the-counter market, UPCoM-Index, rose 0.11 points to 46.06. A total of 288,280 shares traded at VND3.95 billion.

By Thuy Doan

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