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Stocks slump below 500

In Uncategorized on March 31, 2010 at 10:56 am

Vietnam benchmark’s VN-Index slipped off the 500-point mark on March 31 under selling pressure. Liquidity fell 12 percent in quantity and 11 percent in value over the previous day.

The shares of 215 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange tumbled 0.29 percent, or 1.48 points, to close at 499.24. Total trading volume dropped to 52.3 million shares, worth more than VND2 trillion.

Among the index members, 107 fell, 68 gained and 45 were flat.

Decliners on the southern bourse were led by South Logistics Joint Stock Company (STG), which closed down 4.96 percent to VND32,600; HCMC-based Seafood Joint Stock Company No4 (TS4); and Long Giang Investment and Urban Development Joint Stock Company (LGL) located in Hanoi.

Vietnam Export Import Commercial Joint Stock Bank, or Eximbank (EIB), topped the list of most active shares in volume with 3.87 million shares trading at VND23,400, up 0.43 percent. Nam Viet Corporation (ANV) came next with 1.99 million shares, followed by Cables and Telecommunications Material Joint Stock Company (SAM), which saw 1.83 million shares change hands.

Construction company Long Hau Corporation (LHG), located in Long An Province, was the biggest winner. Its stock gained the daily maximum allowed limit of 5 percent to VND63,000.

Cuongthuan Investment Corporation (CTI) was next, gaining 4.98 percent to VND25,300.

Vien Dong Investment Development Trading Corporation (VDI) followed with an increase of 4.96 percent to trade at VND12,700.

The northern market was also in the red as the HNX-Index dropped to 160.55, down 1.82 points or 1.12 percent over Wednesday. More than 22.4 million shares were traded at VND750.4 billion.

Meanwhile, the UPCoM-Index gained 0.07 points or 0.15 percent to 46.05. A total of VND5 billion was spent trading 337,272 shares.

Source: SGGP

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