Market closes down for third day

Movements of VN-Index on October 19. (Photo: vietstock.vn)
Movements of VN-Index on October 19. (Photo: vietstock.vn)
The Vietnam’s benchmark VN-Index, a measure of 263 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange, sharply fell on October 19 as investors dumped shares to avert risk.

The index finished at 454.25 points, losing 0.73 percent, or 3.34 points.

Trading volume on the city bourse improved, surpassing 31 million shares for the first time since October 8 as investors increased buying at low prices. Around 33.5 million shares traded at VND884.7 billion.

Among the index members, 33 advanced, 191 dropped, and 44 remained unchanged.

Ocean Group Joint Stock Company (OGC) was the most active stock in volume with more than 1.63 million shares changing hands.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came next with around 1.36 million shares traded at VND20,000, followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 1.21 million shares. The company’s shares lost 0.63 percent today.

Seafood Joint Stock Company No4 (TS4) which collapsed the daily maximum allowed limit of 5 percent to VND22,800 was the biggest loser on southern market.

Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL) gave up 4.98 percent to trade at VND21,000.

From October 19 to December 19, Ngo Ngoc Thanh, chairman of Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL), registered to buy 7,000 shares, raising his holdings to 37,739 shares, to increase ownership ratio.

Phuong Nam Cultural Joint Stock Corporation (PNC) subtracted 4.95 percent to settle at VND9,600.

The list of winners included DESCON Construction Corporation (DCC), Transforwarding Warehousing Joint Stock Corporation (TMS), and Lilama 10 Joint Stock Company (L10).

On this trading session, Saigon Machinco (SMA) listed 8.06 million shares for the first time on the city bourse. The company finished at VND15,000 per share with a total trading volume of 3,210 shares.

The Hanoi’s HNX-Index declined 2.33 points, or 1.96 percent, to close at 116.56 points. Trading volume increased by 60 percent over the previous trading session as around 27.8 million shares changed hands at a value VND587.5 billion.

The UPCoM-Index slid 0.28 points to 42.99 points as of 11:15 am local time. A total of 0.33 million shares were traded at VND4.87 billion.

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