VN-Index declines due to profit-taking

The Vietnam’s benchmark VN-Index slid on May 5 as investors sold heavily to book profits.

The index of 226 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange lost 0.2 percent, or 1.11 points, to finish at 548.01. Liquidity on the market remained high with more than 86.7 million shares changing hands at VND3 trillion.

Of the index, 86 stocks gained, 120 dropped, and 24 were unchanged.

Sonadezi Long Thanh (SZL), which operates in real estate, fell 4.94 percent to trade at VND44,300 from VND46,600.

Cavico Viet Nam Mining and Construction Joint Stock Company (MCV) slid 4.86 percent to VND33,300.

Other big losers on the city bourse included Thien Nam Trading Import Export Corporation (TNA), Vinpearlland Tourism Joint Stock Company (VPL), and Seafood Joint Stock Company No4 (TS4).

House Viet Nam Joint Stock Company (NVN), Post and Telecommunications Investment and Construction Joint Stock Company (PTC), and Binh Duong Trade and Development Joint Stock Company (TDC) led the list of big winners on the southern market. They all added up the daily maximum allowed limit of 5 percent to VND35,700, VND23,100, and VND37,800 respectively.

Cuu Long Fish Joint Stock Company (ACL) rose by 4.98 percent to VND44,300.

Saigon Commercial Bank or Sacombank (STB) was the most active stock in volume, seeing more than 4 million shares being traded.

Viet Nam Tanker Joint Stock Copany (VTO) followed with 2.62 million shares trading up 3.68 percent over the previous day. Petrovietnam Finance Joint Stock Corporation (PVF) came next with 2.61 million shares.

The smaller bourse in the north also dipped in red as the Hanoi’s HNX-Index dropped 1.1 points, or 0.6 percent, to 183.21. Around 62.3 million shares, worth VND2 trillion, were traded.

The UPCoM-Index made a contrast moving, rising 1.45 points to close at 51.28. A total of 458,224 shares, worth VND7.57 billion, changed hands.

By Thuong Nhan

Other news