VN-Index drops to two-month low on eroding sentiment

Vietnam’s benchmark VN-Index failed to regain on July 28, plunging to two-month low as investors lost confidence amid uncertainties on global market.

The gauge of 295 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange declined 0.25 percent, or 1.01 points, to close at 408.39 points.

Of the index members, 97 rallied, 101 dived, while 102 remained unchanged.

Trading on the city bourse fell by 22 percent in volume, and 18 percent in value over the previous trading session as 23.6 million shares changed hands at a value of VND470 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB), the fourth largest listed lender, was the most active share in volume with 813,930 shares changing hands.

Bank for Foreign Trade of Vietnam or Vietcombank (VCB) followed with 795,160 shares traded.

Licogi 16 Joint Stock Company (LCG) came in third with 605,260 shares changing hands.

Full Power Joint Stock Company (FPC) slashed 5.26 percent to close at VND1,800.

Other decliners included NBB Investment Corporation (NBB), AgriBank Securities Joint-Stock Corporation (AGR), Viet Nhat Seafood Corporation (VNH), and Transforwarding Warehousing Joint Stock Corporation (TMS). They all shed 5 percent to VND45,600, VND7,600, VND3,800, and VND20,900 respectively.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) and Long Hau Corporation (LHG) climbed 5 percent to VND12,600, and VND23,100 respectively.

Tan Binh Import Export Joint Stock Corporation (TIX) restored 4.97 percent to VND16,900.

Licogi 16 Joint Stock Company (LCG) built up 4.96 percent to VND12,700.

The Hanoi’s HNX-Index of the smaller in the north unexpected rebounded for the second day, gaining 0.04 percent, or 0.03 points, to finish at 69.95 points. Nearly 19 million shares changed hands at a value of VND198 billion.

The UPCoM-Index of unlisted shares jumped 1.95 percent, or 0.61 points, to 31.91 points. A total of 157,937 shares changed hands at a value of VND1.04 billion as of 1:45 pm local time.

By An Nhien

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