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Stocks drop to near 515 points

In Uncategorized on April 20, 2010 at 9:52 am

The Vietnam’s benchmark VN-Index lost ground for the second day on April 20 as investors were waiting for news.

The index of 224 companies and four close-ended funds on the Ho Chi Minh Stock Exchange slid 0.3 percent, or 1.54 points, to finish at 515.2. Around 58.6 million shares, worth VND2.13 trillion changed hands.

Among the index members, 89 advanced, 101 declined, and 38 were unchanged.

Tan Tien Plastic Packaging Joint Stock Company (TTP) and Vietnam Sun Corporation (VNS) fell the maximum daily allowed 5 percent limit to VND47,500 and VND57,000.

House Viet Nam Joint Stock Company (NVN) slid 4.85 percent to VND31,400.

Big gainers on the city bourse included Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC), Ho Chi Minh City Metal Corporation (HMC), and Becamex Infrastructure Development Joint Stock Company (IJC). They all added the daily maximum allowed limit of five percent to VND29,400, VND21,000, and VND37,800 respectively.

Huu Lien Asia Corporation (HLA) was the most active stock in volume with more than 2 million shares being traded at VND25,800. Saigon Commercial Bank or Sacombank (STB) was next with 1.88 million shares. Viet – Han Corporation (VHG) came next with more than 1.8 million shares.

The Hanoi’s HNX-Index rose 0.9 points, or 0.52 percent, to close at 173.94. More than 53.84 million shares were traded at VND1.84 trillion.

The over-the-counter market also performed well as the UPCoM-Index added 1.61 points, or 3.6 percent, to 46.34. A total of 191,242 shares, worth VND2.7 billion was changed hands.

Source: SGGP

Stocks slip to near 500 points

In Uncategorized on March 30, 2010 at 9:58 am

The Ho Chi Minh Stock Exchange retreated on March 30 despite a rally on the US stock markets. Liquidity was significantly improved.

Vietnam’s benchmark VN-Index of 215 companies and four mutual funds fell 4.95 points, or 0.97 percent, to finish at 500.72. Most blue-chips declined while penny-chips climbed.

Of the index, 59 shares gained, 129 tumbled, and 32 were unchanged. Around 59.87 million shares were traded at VND2.24 trillion.

Truong Thanh Furniture Corporation (TTF), located in the southeast province of Binh Duong, and Vinalink International Freight Forwarders (VNL) led the list of losers. Both gave up the 5 percent daily limit to VND30,400 and VND19,000 respectively.

The furniture maker will hold its annual shareholders meeting on April 22 this year. Ta Thi Vu Van, related to Ta Van Nam, a member of the company’s Board of Directors, sold 15,000 holdings on February 25 this year without making a declaration.

The Hanoi-based Dong Do Marine Joint Stock Company, meanwhile, saw 4.96 percent of its share value trading at VND13,400.

Cables and Telecommunications Material Joint Stock Company (SAM), which added up 0.63 percent, was the most active share in volume as more than 4.8 million shares changed hands at VND32,100.

Saigon Commercial Bank, or Sacombank (STB), followed with 2.43 million shares traded at VND21,800. The bank’s shares continued to lose 1.36 percent today.

Sugar maker Société De Bourbon Tay Ninh (SBT) saw around 1.9 million shares of the company traded.

The biggest winners included Cavico Viet Nam Mining and Construction Joint Stock Company (MCV), Sai Gon Garment Manufacturing Trade Joint Stock Company (GMC), and Construction and Materials Trading Joint Stock Company (CNT).

The smaller bourse in the north also stayed red as Hanoi’s HNX-Index slid 0.84 percent, or 1.38 points, to close at 162.37. Around 27.7 million shares, worth VND906.8 billion changed hands.
The index of the over-the-counter market, UPCoM-Index, rose 0.11 points to 46.06. A total of 288,280 shares traded at VND3.95 billion.

Source: SGGP

Bomb blast near Govn’t House injures 2 Thai protesters

In Uncategorized on November 11, 2008 at 1:07 pm

Hanoi (VNA) – Two Thai protesters were injured after a small bomb went off on November 11 at the site of a months-long anti-government rally.

The explosion took place near the stage inside the grounds of the prime minister’s offices, where supporters of the People’s Alliance for Democracy (PAD) have been camped out since August, according to news reports.

“We don’t know what kind of bomb it was because as usual they (PAD) don’t allow police in immediately to examine the site inside Government House,” police officer Colonel Somchai Chueyklin was quoted as saying.

The bomb comes after another explosion at the same site on November 8 left three protesters injured.-

Rubber exports near 400,000 tonnes

In Uncategorized on September 1, 2008 at 12:45 pm

Dry rubber is processed for export at Truong Anh Co in the central province of Quang Tri. About 80 per cent of domestic rubber has been exported to 40 countries and territories. — VNA/VNS Photo Hong Hoa

HA NOI — Viet Nam exported 383,000 tonnes of rubber during the first eight months of this year, a year-on-year decrease of 10 per cent, according to the General Statistics Office.

However, the export turnover reached more than US$1 billion, a year-on-year rise of 30 per cent due to the 42 per cent increase in the price of exported rubber.

The Ministry of Industry and Trade predicted that the rubber industry would export 780,000 tonnes of rubber this year, equivalent to about $1.45 billion, up 4 per cent in output and 2.3 per cent in value.

Many experts in this field, however, said that 2008’s rubber export turnover could reach $1.7 billion, up 21.6 per cent over last year thanks to favourable price conditions.

During the first week of August, Viet Nam’s export price of rubber increased by $181 per tonne compared to the figure in early July, reaching an average price of $3,012 per tonne.

According to the Ministry of Agriculture and Rural Development’s report, approximately 80 per cent of domestic rubber has been exported to 40 countries and territories worldwide, including China, South Korea, Russia, Taiwan, the US, Japan and Germany.

The Ministry of Industry and Trade has also raised targets for rubber exports and plans to expand the market well beyond China, Viet Nam’s largest buyer of unprocessed rubber products

Viet Nam ranks fourth in the world in rubber exports, after Thailand, Indonesia, and Malaysia, but the ministry believes the country can increase the quantity and quality of rubber exports.

The International Rubber Study Group predicted that supply and demand would balance on the international rubber market in 2008, with consumption at 9.84 million tonnes and supply at 9.85 million tonnes.

The fluctuation in price has been largely attributed to the fact that world-leading rubber producers such as Thailand, Indonesia and Malaysia have suffered natural calamities. As a result, their outputs have dropped dramatically, while the demand for natural rubber in large markets such as China, the US, Japan, and some European countries has been quite stable.

The Ministry of Industry and Trade said that the slow development of the economy worldwide would markedly affect demand for tyres, causing the price of natural rubber to drop. Most of the world’s rubber is used in tyres.

However, natural rubber prices are predicted to decrease only modestly as rubber storage in some countries with large consumption has dipped sharply due to preciously high prices. The drop in price would likely promote purchases. —