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Cautiousness sends market down

In Uncategorized on January 8, 2011 at 4:27 am

Vietnam’s benchmark VN-Index failed to extend its winning momentum to the third day, tumbling on December 29 as investors switched to bearish sentiment.

The measure of 275 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange lost 0.12 percent, or 0.58 points, to finish at 478.75 points.

Among the index members, 84 surged, 141 dropped, while 55 remained unchanged.

Trading volume sharply fell over the previous trading session; however, it still stayed on high level. Around 62.37 million shares changed hands at a value of VND1.47 trillion.

Saigon Securities Inc. (SSI), the country largest brokerage, continued to be the most active share in volume with 3.56 million shares changing hands.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) was still behind with 3.23 million shares traded.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came next with 2.4 million shares.

IDICO Infrastructure Development Investment Joint Stock Company (HTI) nosedived for seven consecutive sessions, eroding 9.62 percent to VND14,100.

Sieu Thanh Joint Stock Corporation (ST8) dumped 8.68 percent to VND22,100. The company will pay dividends for the second term of this year to its current shareholders in cash at a ratio of 10 percent.

Vietnam Export Import Commercial Joint Stock Bank or Eximbank (EIB) adjusted 7.83 percent to VND15,300.

Imexpharm Pharmaceutical Joint Stock Company (IMP) sank 7.26 percent to VND57,500. The company will issue 2,331,964 additional shares to its current shareholders at a price of VND20,000 per share, and a ratio of 10:2.

Cosmetics producer S.P.M Corporation (SPM) enhanced 4.96 percent to VND63,500.

Long Giang Investment and Urban Development Joint Stock Company (LGL) closed up 4.9 percent to VND21,400.

Tan Binh Import – Export Joint Stock Company (TIX) grew for four straight days, earning 4.73 percent to VND42,100.

The smaller bourse in the north made sharp correction as the Hanoi’s HNX-Index slashed 1.64 percent, or 1.88 points, to close at 112.93 points. Trading volume improved over the previous session, climbing to 50.7 million shares worth VND1.15 trillion.

Meanwhile, the UPCom-Index strongly jumped, gaining nearly 3 points to 44.75 points this morning. A total of 163,100 shares changed hands at a value of VND1.78 billion.

Source: SGGP

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