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Stocks march south

In Uncategorized on October 27, 2010 at 9:11 am

Movements of VN-Index on October 27. (Photo: VN-Index, a measure of 266 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, erased previous gains on October 27 as investors dumped shares on speculation that stocks would make corrections the next days.

The benchmark tumbled 1.12 percent, or 5.11 points, to close at 450.01 points.

Liquidity on the city bourse declined by 20 percent over the previous trading session as just 28.5 million shares changed hands at VND720.5 billion.

On the index, 43 stocks advanced, 183 dropped, while 45 treaded water.

Saigon Thuong Tin Commercial Bank or Sacombank (STB), one of the top listed lenders, took the spot of most active share in volume with 1.75 million shares changing hands.

Sugar producer Société De Bourbon Tay Ninh (SBT) followed with 1.1 million shares, tagged along by Ocean Group Joint Stock Company (OGC) with 992,490 shares.

Khanh Hoa Power Joint Stock Company (KHP) gave up 6.14 percent to VND10,700. The company will pay dividends for the first term of this year in cash at a ratio of 5 percent to its current shareholders on November 11.

The newly listed Dam Sen Water Park Corporation (DSN), Hoang Quan Consulting – Trading – Service Real Estate Corporation (HQC), and VIET NAM ACTIVE FUND (VFMVFA) all contracted 5 percent to VND22,800, VND32,300, and VND7,600 respectively.

North Kinh Do Food Joint Stock Company (NKD) advanced 4.94 percent to VND42,500.

Cuu Long Pharmaceutical Joint Stock Corporation (DCL) increased the first time in six days, gaining 4.91 percent to VND40,600.

Tan Tien Plastic Packaging Joint Stock Company (TTP) reversed a previous loss of 4.38 percent, climbing 4.9 percent to trade at VND32,100.

The northern bourse also finished in red as the Hanoi’s HNX-Index collapsed 2.38 points, or 2.07 percent, to 112.53 points. Trading volume fell by 30 percent over the previous day to around 24.1 million shares traded at VND487.9 billion.

The UPCoM-Index sliced 0.6 points to 42.38 points as of 11:10 am local time. A total of 95,250 shares changed hands at VND0.95 billion.

Source: SGGP

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