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Penny chips buoy investor confidence

In Uncategorized on October 25, 2010 at 1:35 pm

Movements of VN-Index on October 25. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index, a gauge of 264 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, unexpectedly swam upstream on October 25 as penny-chip stocks revived, enhancing investors’ bullish sentiment.

The index finished at 448.61 points, gaining 3.4 points, or 0.76 percent.


However, liquidity on the city bourse slightly improved over the previous session. Around 28.6 million shares traded at VND735.21 billion, an increase of 5.94 percent in volume and 20.31 percent in value.


On the benchmark, 154 stocks gained, 48 dropped, while 67 treaded water.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) topped the list of most active shares in volume with 1.14 million shares changed hands. It was the only stock whose trading volume was above 1 million shares today.


Ocean Group Joint Stock Company (OGC) took the second rank with 829,070 shares traded.


Saigon Securities Inc. (SSI), the country’s largest brokerage, tagged along with 671,750 shares.


Camau Trading Joint Stock Company (CMV) advanced the first time after stalling for two trading sessions, jumping the daily maximum allowed limit of 5 percent to trade at VND27,300.


OPC Pharmaceutical Joint-Stock Company (OPC) climbed 4.99 percent to VND40,000.


Nari Hamico Minerals Joint Stock Company (KSS) curbed it five-consecutive-trading-session losing streak, shooting up 4.96 percent to VND27,500.


H.A.I Joint Stock Company (HAI) eroded 4.92 percent to trade at VND29,000.


Cuu Long Pharmaceutical Joint Stock Corporation (DCL) stumbled 4.91 percent to VND40,700.


Manulife Progressive Fund (MAFPF1) declined 4.76 percent to VND4,000.


The Hanoi’s HNX-Index edged up 0.45 points, or 0.4 percent, to 111.77 points. Trading volume severely fell over the previous day as just 20.7 million shares changed hands at VND400 billion.


The UPCoM-Index inched up 0.01 points to 42.9 points. A total of 232,200 shares were traded at a value of VND3.87 billion as of lunchtime.

Source: SGGP

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