Friday , May 24 2024

5 companies drop out of billion-dollar market cap list

Five companies have lost their billion-dollar market cap title after their stocks plunged double-digit in October.

They are Vietnam Airlines (HVN), SSI Securities Corporation (SSI), Petrovietnam Power Corp (PVN), Vietnam Maritime Bank (MSB) and Power Generation Corp 3 (PGV).

MSB was the biggest decliner of the five with 25% of its market cap gone, while HVN fell the least at 19%.

Vietnam’s main bourse, Ho Chi Minh Stock Exchange (HoSE), saw VND380 trillion ($15.28 billion) in market cap vanish last month, with the billion-dollar club seeing its members reduced from 39 to 34.

The list now includes 14 banks and six property developers and 14 other companies in the sectors of energy, industry, consumer goods, retail, aviation and chemicals.

Vietcombank is the only company with a $10-billion market cap.

PetroVietnam Gas (GAS) was a rare gainer last month as its market cap exceeded that of Vingroup and Vinhomes to reach second place at VND21.4 trillion.

Vinhomes, however, dropped from second place to sixth, while Techcombank fell from ninth to 13th.

Vietnam’s benchmark VN-Index has decreased by 34.6% since the beginning of the year.

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