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VN-Index drops to psychological support level

In Uncategorized on July 6, 2010 at 12:16 pm

Movement of VN-Index on July 6. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index on July 6 tumbled most since June 25 as investors dumped shares to book profits.

The index of 246 companies and four close-ended funds listed on the Ho Chi Minh Stock Exchange contracted 1.13 percent, or 5.73 points, to finish at 500.82 points.


Among the index members, only 27 advanced, 195 declined, while 28 remained unchanged.


Liquidity on the southern market improved as more than 52.5 million shares changed hands at VND1.46 trillion.


Saigon Fuel Company (SFC) plummeted 18.09 percent to VND39,400. The company will close shareholder list by July 8 to pay dividends by shares in the first season of this year and issue bonus shares for current shareholders.


Idico Urban and House Development Joint Stock Company (UIC) and newly listed Sacombank Securities Joint Stock Company (SBS) both lost 5 percent to VND34,200 and VND39,900 respectively.


Saigon Thuong Tin Commercial Bank or Sacombank (STB), which enjoyed robust trading with 5.22 million shares changing hands, topped the list of most active share in volume.


Ocean Group Joint Stock Company (OGC) followed with nearly 1.68 million shares. Petroleum Industrial & Civil Construction Joint Stock Company (PXI) was behind with 1.67 million shares.


The newly listed Urban Development and Construction Corporation (UDC) climbed 5 percent to VND25,200.


Ha Tien Transport Joint Stock Company (HTV) added up 4.98 percent to VND23,200. The company registered to sell all 664,240 treasury shares from July 12 to October 12 to structure its investment category.


From July 6 to September 6, Nguyen Tuan Anh, director of Ha Tien Transport Joint Stock Company (HTV), registered to sell 5,000 shares to cover family expenses.


The Hanoi-based HNX-Index slumped 1.57 percent, or 2.48 points, to 155.8. Trading volume hiked during the last minutes of today’s trading session, recording 32.7 million shares changing hands at VND939.7 billion.


Meanwhile, the UPCoM-Index extended its winning streak for 10 straight days, gaining 2.35 points to 56.8. Around 1.4 million, worth VND26.4 billion, were traded.

Source: SGGP