Selling pressure sends market down

Vietnam’s benchmark VN-Index retreated from a three-month high on December 6 after selling pressure suddenly increased at the end of the trading session.

Shares of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slid 0.25 percent, or 0.99 points, to close at 390.2 points.

Among the index members, 118 climbed, 107 dropped, while 81 remained unchanged.

Trading volume on the city bourse rose slightly over the previous day as around 37.92 million shares changed hands at a total value of VND506 billion.

Tan Tao Investment & Technology Joint Stock Company (ITA) was the most active share in volume with 2.46 million shares changing hands.

Becamex Infrastructure Development Joint Stock Company (IJC) took the second rank with 1.92 million shares.

Bac Giang Exploitable Mineral Joint Stock Company (BGM) finished third with 1.7 million shares traded.

Mien Trung Petroleum Construction Joint Stock Company (PXM) slashed 18.42 percent to close at VND6,200.

Petrolimex Joint Stock Tanker Company (PJT) collapsed 9.68 percent to VND5,600.

An Pha Petrol Joint Stock Company (ASP), Basa Joint Stock Company (BAS), and Cu Chi Commercial & Industrial Developing Investment Joint Stock Company (CCI) all gave up 5 percent to VND3,800, VND1,900, and VND9,500 respectively.

Viky Plastic Joint Stock Company (VKP) advanced for four consecutive trading sessions, accelerating 8.33 percent to VND1,300.

South Vietnam Container Shipping Joint Stock Company (VSG) built up 5.56 percent to VND1,900.

Post & Telecommunications Investment and Construction Joint Stock Company (PTC), Tan Tien Plastic Packaging Joint Stock Company (TTP), and Urban Development & Construction Corporation (UDC) gained 5 percent to close at VND6,300, VND25,200, and VND4,200 respectively.

Hanoi’s HNX-Index of the smaller bourse in the north corrected 1.09 percent, or 0.69 points, to close at 62.78 points. Trading volume fell by 15 percent over the previous trading session as around 37.5 million shares changed hands at a value of nearly VND340.7 billion.

Meanwhile, the UPCoM-Index of unlisted shares rose 0.21 percent, or 0.07 points, to 33.94 points at 2:38 pm Vietnamese time. A total of 69,045 shares changed hands at a value of VND410 million.

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