VN-Index corrects after big rallies

Vietnam’s benchmark VN-Index made correction on December 14 as investors sold holdings to take advantages of previous sharp gains.

The gauge of 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange gave up 0.12 percent, or 0.57 points, to close at 489.65 points.

Among the index members, 52 advanced, 197 retreated, while 27 remained unchanged.

Trading volume climed to the highest level this year as 134.9 million shares worth nearly VND3.28 trillion changed hands.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) won the position of most active share in volume with 14.87 million shares changing hands.

It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 10.58 million shares traded.

Vietnam Export Import Commercial Joint Stock Bank or Eximbank (EIB) came in third with 7.44 million shares.

Joint Stock Commercial Bank for Foreign Trade of Vietnam or Vietcombank (VCB) plummeted 13.49 percent to trade at VND29,500. The lender will issue 436,382,579 additional shares to its current shareholders at a ratio of 100:33.

Other losers on the southern market included Danang Rubber Joint Stock Company (DRC), House Viet Nam Joint Stock Company (NVN), and sweets producer Bibica Corporation (BBC).

Food and cosmetics producer S.P.M Corporation (SPM) rebounded 4.92 percent to VND64,000 from VND61,000 the previous day.

Viet Thang Aquafeed Joint Stock Company (VTF) capped its four-day losing streak, rallying 4.9 percent to VND15,000.

Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) hiked for four consecutive days, closing up 4.87 percent to VND23,700.

The Hanoi’s HNX-Index slumped 1.77 percent, or 2.15 points, to close at 119.61 points. Nearly 111 million shares changed hands at a value of VND2.26 trillion.

Meanwhile, the UPCom-Index inched up by 0.59 points to 41.93 points this morning. Around 0.3 million shares changed hands at a value of VND3.56 billion as of 11:15 am local time.

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