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Saturday, September 23, 2023

Vice chairman of NCB resigns due to health reasons

The Saigon Times

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HCMC – Nguyen Tien Dung, vice chairman of the National Citizen Commercial Joint Stock Bank (stock code: NVB) has tendered his resignation due to health issues.

Dung, born in 1966, has been serving as a board member of NCB since 2020, with his current term scheduled to last until 2025. He was picked as vice chairman of the bank at a shareholders meeting in July 2021.

Before his role as vice chairman, Dung was NCB’s board chairman from November 2017 to July 2021.

As of the end of June, Dung held around nine million NVB shares, or a stake of nearly 1.6% in the bank. Following his resignation, NCB’s Board of Directors will be left with four members.

Closing the trading session today, September 11, NVB shares lost 5.3% to VND14,300 per share, with a matching volume of over 900,000 shares.

The Hochiminh Stock Exchange experienced a significant decline, with losers five times greater than winners by 446 to 85. As a result, the VN-Index plunged 1.44%, or 17.85 points, to end at 1,223.63 points.

Trading volume and value surged by 26.36% and 22.02%, respectively, compared to the previous session. More than 1.39 billion shares worth over VND32.1 trillion changed hands on the southern market, including 86.3 million shares valued at VND2.3 trillion transacted via block deals.

The VN30 basket, grouping the 30 largest-cap stocks, saw 26 stocks dipping and only three others increasing. The VN30-Index closed 1.48% lower, shedding 18.43 points to 1,230.71 points.

SAB bucked the downtrend as it made a 4.3% gain, ending at VND167,500 per share and contributing over 1.1 positive points to the VN-Index.

PLX and VPB rose 1.1% and 0.5%, respectively, while VIC closed at its reference price.

VHM and GVR lost 2.8% and 4.2%, respectively, making the benchmark index shed more than 2.5 points.

Many other real estate stocks also finished the day in the red. NVL took the lead by liquidity with nearly 71.7 million shares traded, but it plunged to its daily lower limit at VND20,500 per share.

Small and medium-sized stocks, such as HPX, AGM, TGG, TTB, and IBC, hit the floor price as they faced trading restrictions and strong selling pressures.

Several steel stocks closed with losses. NKG slumped 3.9% to VND21,000 per share, HSG decreased 3.2% to VND21,300 per share, and HPG fell 2.6% to VND28,000 per share. HPG was the second most actively traded stock on the bourse.

In the banking sector, OCB gained over 2%, while VPB and LPB saw modest increases. VCB faced a 1.12% decline, and MSB and SHB dropped by over 3%.

Losers also outnumbered winners on the Hanoi Stock Exchange by 154 to 48. The HNX-Index tumbled 1.9%, slipping 4.87 points to 251.33 points.

Trading volume and value on the northern bourse totaled 130.34 million shares and around VND2.6 trillion.

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