Stocks tumble on fuel price rise

Stocks tumble on fuel price rise

Vietnam’s benchmark VN-Index fell the second day on August 1 as sell-side lost patience, dumping shares heavily on news that fuel price will increase by VND900 per liter, starting 2pm today.

Source: VietstockFinance

The index of 303 companies and six mutual funds listed on the Ho Chi Minh City Stock Exchange lowered 0.47 percent, or 1.93 points, to close at 412.55 points.

Across the benchmark, 72 stocks advanced, 162 retreated, while 75 remained unchanged.

Trading on the city bourse rose by 8.7 percent in volume, and by 2 percent in value over the previous trading session as more than 27.61 million shares changed hands at a total value of VND426.28 billion.

Tan Tao Investment Industrial Joint Stock Company (ITA) topped the list of most active shares in volume with 1.72 million shares changing hands.

This was followed by Tay Bac Minerals Investment Joint Stock Company (KTB) with 1.43 million shares.

Sacom Development & Investment Corporation (SAM) remained at third rank with 1.07 million shares traded.

Truong Long Auto & Technology Joint Stock Company (HOT) demolished 9.43 percent to close at VND4,800.

Ben Tre Aqua Product Import and Export Joint Stock Company (ABT) slashed 5.8 percent to close at VND39,000.

COMA 18 Joint Stock Company (CIG), Post & Telecommunications Investment and Construction Joint Stock Company (PTC), and Hoang Long Group (HLG) shortened 5 percent to close at VND3,800, VND7,600, and VND9,500 respectively.

Tay Bac Minerals Investment Joint Stock Company (KTB), Tan Binh Import Export Joint Stock Corporation (TIX), and Taya Vietnam Electric Wire and Cable Joint Stock Company (TYA) all sprang 5 percent to close at VND8,400, VND18,900, and VND4,200 respectively.

Binh Dinh Minerals Joint Stock Company (BMC) levitated 4.95 percent to close at VND53,000.

Interfood Shareholding Company (IFS) and Phu Tai Joint Stock Company (PTB) both added 4.88 percent to close at VND8,600, and VND12,900 respectively.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – receded 2.22 points, or 0.45 percent, to end at 489.76. Among its 30 members, 3 stocks rallied, 21 weakened, and 6 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north eroded 0.71 percent, or 0.49 points, to close at 68.7 points with 73 winners, 127 losers, and 75 stocks treading water. Around 31.64 million shares changed hands at a total value of VND481.6 billion.

HNX 30 Index - the price index of top 30 stocks calculated based on free float adjusted market capitalization – slumped 1.19 percent, or 1.56 points, to finish at 129.35 points.

Meanwhile, the UPCoM-Index of unlisted shares ditched 0.08 percent, or 0.03 points, to close at 37.17 points. A total of 210,510 shares changed hands at VND1.2 billion.

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