Markets make correction after previous sharp gains

Movements of VN-Index on December 1. (Photo:
Movements of VN-Index on December 1. (Photo:
Vietnam’s benchmark VN-Index made correction on December 1 after advancing for six straight trading sessions as investors sold stocks to take advantage of previous gains.

The gauge of 270 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange shed 0.37 percent, or 1.66 points, to close at 449.93 points.

Of the index, 104 stocks leaped forward, 121 tripped, while 50 treaded water.

Trading volume fell by 25 percent over the previous day to around 49 million shares worth VND1.05 trillion.

Refrigeration Electrical Engineering Corporation (REE) came first in the race for the position of most active share in volume with 3.34 million shares changing hands, tagged along by the country’s largest brokerage Saigon Securities Inc. (SSI) with 3.31 million shares.

Investment and Trading of Real Estate Joint stock Company (ITC) came next with 1.79 million shares traded.

Petrovietnam Finance Joint Stock Corporation (PVF) slumped 4.87 percent to VND21,500.

Viet Thang Aquafeed Joint Stock Company (VTF) retreated the second day, edging down 4.86 percent to VND17,600.

Tan Tien Plastic Packaging Joint Stock Company (TTP) gave up 4.72 percent to VND32,300.

Sea & Air Freight International (SFI) grew the daily maximum allowed limit of 5 percent to VND18,900.

Gemadept Corporation (GMD), Tay Bac Minerals Investment Joint Stock Company (KTB), and Vietnam Petroleum Transport Joint Stock Company (VIP) all accelerated 4.95 percent to VND29,700, VND23,300, and VND10,600 respectively.

Alphanam Joint Stock Company (ALP) went up for five consecutive trading sessions, gaining 4.93 percent to VND14,900.

The smaller bourse in the north also finished in red as the Hanoi’s HNX-Index slashed 1.6 percent, or 1.73 points, to 106.7 points. Trading volume suddenly rose to more than 73 million shares worth VND1.31 trillion.

The UPCoM-Index inched up 0.52 points to 41.7 points this morning. A total of 457,974 shares changed hands at VND10.55 billion.

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