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Posts Tagged ‘slump’

Stocks slump as investors sell heavily

In Uncategorized on October 14, 2010 at 6:30 pm

Movements of VN-Index on October 4. (Photo: vietstock.vn)The VN-Index, a measure of 261 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, tumbled on October 4 as investors dumped shares on speculation that stocks would decline further.

The benchmark slashed 1.3 percent, the highest level since September 23, or 5.88 points, to close at 455.83 points.


Liquidity on the city bourse improved by 20 percent over the average level of last week as more than 50 million shares changed hands at VND1.22 trillion.


On the index, only 18 stocks advanced, 219 dropped, while 29 treaded water.


Ocean Group Joint Stock Company (OGC) was the most active share by volume with 2.07 million shares changing hands.


It was followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 1.424 million shares.


Investment and Trading of Real Estate Joint stock Company (ITC) chased after with 1.42 million shares.


Dream House Investment Corporation (DRH) dived 14.29 percent to VND13,200. The company will issue 5.01 million shares. Of which, 749,500 shares are bonus shares, and the same amount is to pay dividends for its current shareholders at a ratio of 100:5.


The company will sell 1,798,800 shares to its current shareholders at a ratio of 100:12, and 112,200 shares to its employees at a price of VND10,000 per share. It will also sell 1.6 million shares to major investors at a price not less than VND16,000 per shares.


The company is expected to collect VND44.71 billion after the sale.


Other losers included DESCON Construction Corporation (DCC), Tay Bac Minerals Investment Joint Stock Company (KTB), and Sai Gon Telecommunication & Technologies Corporation (SGT).


Among a few gainers, Dinh Vu Port Investment & Development Joint Stock Company (DVP) emerged 3.94 percent to VND36,900.


Beton 6 Corporation (BT6) advanced the first time in three straight trading sessions, adding up 2.9 percent to VND71,000.


The northern bourse also opened week in red as the Hanoi’s HNX-Index contracted 4.89 points, or 3.89 percent, to 120.92 points. Around 44 million shares were traded at a value of VND931 billion, the most impressive trading result in the past ten sessions.


The UPCoM-Index sliced 0.28 points to 45.26 points as of 11:10 am local time. A total of 250,000 shares changed hands at VND4.2 billion.

Source: SGGP

Stocks slump under selling pressure

In Uncategorized on August 5, 2010 at 11:21 am

Movements of VN-Index on August 5. (Photo: vietstock.vn)The shares of 251 companies listed on the Ho Chi Minh Stock Exchange dropped for a second consecutive day on August 5, amid unimproved demand and the dumping of shares by investors eager to cut losses.

Vietnam’s benchmark VN-Index slipped 0.1 percent, or 0.5 points, to close at 486.21.


Of the index, 67 stocks advanced, 127 fell, while 61 remained unchanged.


Although several stocks retreated to a price level considered reasonable for disbursement, investors neglected to act.


Trading volume was thin, with around 37.4 million shares changing hands, valued at VND1.16 trillion.


Vinh Son – Song Hinh Hydropower Joint Stock Company (VSH) won the spot of most active stock by volume with 1.34 million shares changing hands.


Pha Lai Thermal Power Joint Stock Company came in next, with 1.21 million shares, followed by Vinafco Joint Stock Corporation (VFC) with more than 965,000 shares.


Sao Mai Construction Corporation (ASM) and Chuong Duong Beverages Joint Stock Company (SCD) sank the daily maximum allowed limit of 5 percent to VND76,000, and VND28,500 respectively.


Sao Mai Construction Corporation (ASM) announced that its net revenue reached VND241.9 billion in the second quarter, up 28.41 percent year-on-year, while prime costs reduced by 29 percent, sending its gross profit to VND114.5 billion.


Pre-tax and post-tax profits were at VND104.54 billion and VND80.92 billion respectively.


From July 12 to 23, Le Ngoc Xuyen, sister of Le Thanh Tuan – chairman of Sao Mai Construction Corporation (ASM) sold all 22,200 of her shares for personal needs.


TMT Automobile Joint Stock Company (TMT) dropped 4.88 percent to VND27,300. The company registered to buy 500,000 treasury shares between August 6 and October 30.


Information and Networking Technology Joint Stock Company (CMT) and DESCON Construction Corporation (DCC) declined 4.86 percent to VND33,300 and VND23,500 respectively.


Viet Nhat Seafood Corporation (VNH) led the big gainers on the city bourse, adding up 4.95 percent to VND19,100.


Thien Long Group Corporation (TLG) increased 4.94 percent to VND34,000.


Ha Tien Transport Joint Stock Company (HTV) surged 4.92 percent to VND34,100.


Hanoi’s HNX-Index fell 0.41 points, or 0.28 percent, to 147.45. Trading volume dropped by 10 percent over the previous day to 27.8 million shares, worth VND754 billion.


The UPCoM-Index moved contrastingly, gaining 0.58 points to 51.12, as of 11 am local time. Around VND9.1 billion was spent on 470,000 shares.

Source: SGGP

VN-Index revives despite global slump

In Uncategorized on June 23, 2010 at 12:38 pm

Movement of VN-Index on June 23. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index struggled to recover on June 23, despite help from rallying penny-chips, while most blue-chips were under pressure to sell.

The shares of 241 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange inched up 0.04 percent, or 0.19 points, to close at 512.82.


Liquidity on the city bourse dropped by 36 percent in quantity and 37 percent in value over previous day, as around 49.2 million shares changed hands, totaling VND1.3 trillion.


On the index, the number of winners equaled to that of losers at 91. Meanwhile, 63 remained unchanged.


The Hanoi-based Long Giang Investment and Urban Development Joint Stock Company (LGL) and power producer Song Ba Joint Stock Company (SBA), located in the central city of Danang, both finished the day having increased the allowed daily limit of 5 percent, moving to VND35,700 and VND12,600 respectively.


Petroleum Industrial & Civil Construction Joint Stock Company (PXI) rallied for a second consecutive day, advancing 4.95 percent to VND31,800.


PetroVietNam Transportation Corporation (PVT), which saw 3.13 million shares traded, was the most active share in volume today.


Refrigeration Electrical Engineering Corporation (REE) came in next with 2.32 million shares, followed by Ocean Group Joint Stock Company (OCG) with 1.83 million shares.


The Hanoi’s HNX-Index also gained 0.58 percent, or 0.94 points, to finish at 162.86. Trading volume was at 37.8 million shares, valued at VND1.17 trillion.


The UPCoM-Index gave up 0.04 points, falling to 46.55, as of 11:20 am local time. A total of 121,172 shares changed hands at VND1.6 billion.


Globally, most stock markets finished in the red as the US real estate market unexpectedly turned gloomy.


Dow Jones Industrial Average index dropped 1.43 percent, or 148.89 points, to 10,293.52. The Nasdaq Composite index declined 1.19 percent. S&P 500 index lost 1.61 percent.


FTSE 100 retreated 0.88 percent. Germany’s DAX slid 0.38 percent.


Asian stocks ended their winning-streak of 8 consecutive sessions of gains, as investors dumped shares.


Japan’s Nikkei 225 index gave up 1.87 percent as yen climbed after an unexpected drop in US home sales, adding to speculation the global economic recovery may be faltering.


China’s Shanghai Composite index also edged down by 0.86 percent.

Source: SGGP

High liquidity prevents VN-Index from major slump

In Uncategorized on June 22, 2010 at 8:35 am

Movement of VN-Index on June 22. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index, a measure of 240 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, made a correction on June 22, giving up 0.41 percent, or 2.12 points, to finish at 512.63 points.

Among the index members, 63 gained, 152 fell, while 29 treaded water.


The market enjoyed robust trading as more than 78.3 million shares, worth VND2.11 trillion, were traded.


Saigon Thuong Tin Commercial Bank or Sacombank (STB), which accounted nearly 20 percent of trading volume today, won the position as the most active share in volume with more than 13.7 million shares changing hands, of which two-thirds were bought by foreign investors.


From June 4 to June 15, Amersham Industries Limited, a shareholder of Sacombank, sold 2.5 million shares, sending its holdings to 2,326,487, accounting for 0.35 percent of chartered capital, to restructure its investment category.


PetroVietNam Transportation Corporation (PVT) followed with 5.86 million shares traded, down 1.85 percent to VND15,900.


Refrigeration Electrical Engineering Corporation (REE) came third with 2.58 million shares.


Ca Mau Trading Joint Stock Company (CMV) and Petrolimex Joint Stock Tanker Company (PJT) both added the daily maximum allowed limit of 5 percent, reaching VND37,800 and VND12,600 respectively.


South Vietnam Container Shipping Joint Stock Company (VSG) rose by 4.96 percent to VND12,700, up from VND12,100 yesterday.


Losers on the southern bourse included the newly listed steel producer Dai Thien Loc Corporation (DTL), Post and Telecommunications Investment and Construction Joint Stock Company (PTC) and consumer products producer Son Ha International Corporation (SHI).


The Hanoi’s HNX-Index dropped 2.09 points, or 1.27 percent, to close at 161.92 points. Trading volume remained at a high level with 45.8 million shares (worth VND1.38 trillion) changing hands.


The UPCoM-Index lost 0.47 points, falling to 45.55 points, as of 11:25 am local time. The market of unlisted stocks recorded 97,000 shares traded, worth VND1.6 billion.


US stock markets also finished in the red with the Dow Jones Industrial Average index sliding 0.08 percent to 10,442.41 points. The Nasdaq Composite index plunged 0.9 percent while the S&P 500 index retreated 0.39 percent.


Japan’s Nikkei 225 index lost 1.22 percent. Meanwhile, Hong Kong’s Hang Sheng index edged up 0.08 percent and China’s Shanghai Composite index advanced 0.14 percent.

Source: SGGP

Global slump sees investors dumping shares

In Uncategorized on May 21, 2010 at 9:17 am

The shares of 230 companies and 4 mutual funds listed on the Ho Chi Minh Stock Exchange edged back down on May 21, after one day of gains, as investors responded to the bearish trend.


Vietnam’s benchmark VN-Index tumbled 3.94 percent, or 19.86 points, to close at 483.69, the lowest level since February 9 of this year. Turnover improved to around 61 million shares worth VND2 trillion.


Only six shares advanced among the members of the city bourse, 220 dropped and 8 remaining unchanged since yesterday.


Wire producer Ngo Han Joint Stock Company (NHW) in Dong Nai Province, the Hanoi-based Post and Telecommunications Investment and Construction Joint Stock Company (PTC), and Quang Ninh Province’s Royal International Corporation (RIC), led declines in the southern market.


Saigon Securities Inc. (SSI) retook the top position of the most active shares in volume with 4.89 million shares traded on the city bourse, followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 2.39 million shares changing hands.


Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) came next with 1.82 million shares. The company’s shares traded down 4.94 percent to VND38,500.


The Danang-based Vietnam Electricity Construction Joint Stock Corporation (VNE) rose 4.97 percent to trade at VND16,900.


Telecommunication cables producer Viet – Han Corporation (VHG) gained 4.82 percent to VND17,400.


Descon Construction Corporation (DCC) saw its share value rise 0.36 percent.


The smaller bourse in the north also stayed in the red as the Hanoi’s HNX-Index finished at 152.69, down 6.53 percent, or 10.67 points. Trading volume was at 43.4 million shares worth VND1.22 trillion.


The index of the over-the-counter market, the UPCoM-Index, experienced a slide of 2.22 points to 48.26. 219,967 shares changed hands, totaling VND3.22 billion.


On the global market, Wall Street experienced the worst decline since the beginning of this year, as most major market indexes in the US fell amid concern over the sluggish rate of economic recovery.


The Dow Jones industrial average lost 376.36 points, or 3.6 percent, while the Nasdaq composite index fell 4.1 percent.

Source: SGGP

World stocks slump on German trading curb

In Uncategorized on May 19, 2010 at 5:07 pm

Stocks slumped globally and the euro dropped to a four-year low point. AFP file

LONDON (AFP) – Stocks slumped globally on Wednesday and the euro dropped to a four-year low point, hit by sudden German trading controls, as Chancellor Angela Merkel issued a dire warning about the eurozone crisis.


In late morning deals, London sank 2.30 percent, Frankfurt shed 2.59 percent and Paris lost 2.84 percent.


Stock prices in Athens fell by 2.25 percent, Madrid dropped 3.13 percent and Milan fell 3.69 percent.


The euro nosedived to 1.2144 dollars in earlier Asian deals, hitting the lowest point since April 17, 2006. It later pulled back to 1.2181 dollars.


“Angela Merkel’s knee-jerk reaction to ban speculators from short-selling debt has sent the markets into a tailspin,” ETX Capital senior trader Manoj Ladwa said in London.


“The reverberation of her decision is likely to have a serious negative impact on not only the euro, but also other European countries who may impose a similar restriction.”


German Chancellor Angela Merkel called on Wednesday for a radical overhaul of Europe’s fiscal rules along German lines, warning of “incalculable consequences” for the European Union if the euro were to fail.


“The current crisis facing the euro is the biggest test Europe has faced in decades, even since the Treaty of Rome was signed in 1957,” she said in a speech in parliament, referring to the treaty that created the EU.


“This test is existential and it must be overcome … if the euro fails, then Europe fails,” Merkel added, defending Germany’s slice of a near trillion-dollar package to prevent Greek debt woes spreading across Europe.


“The euro is in danger. If we do not avert this danger, then the consequences are incalculable and the consequences for the whole of Europe are also incalculable,” she said.


In a unilateral move, Germany’s securities market regulator Bafin has slapped a ban on so-called naked short-selling in shares of 10 financial institutions and eurozone government bonds, in a bid to end markets volatility.


The European Union reacted by calling for coordination against speculative trading, while French Finance Minister Christine Lagarde voiced reservations and said other states should have been consulted first.


Naked short selling occurs when investors sell on the market stocks or bonds they don’t own and haven’t even borrowed, hoping to be able to buy them back later at a lower price, thereby earning a profit.


Eurozone fears also plagued Asian stock markets, with Hong Kong slumping 1.08 percent and Tokyo shedding 0.54 percent, after Wall Street sank 1.08 percent overnight.


European stocks had risen on Tuesday as better-than-expected US economic data had helped offset persistent concerns about Europe’s debt crisis.


“Equity markets have certainly started the session with something of a hangover in light of those German short-selling restrictions,” said David Jones, chief market strategist at IG Index.


Bearish sentiment towards the euro currency has prevailed even after eurozone finance ministers vowed to fix the region’s finances while expressing concern at their plunging currency.


After agreeing a 110 billion euro (140 billion dollar) bailout for Greece and a 750 billion euro fund for other European Union nations that may struggle to repay loans, Europe’s leaders are scrambling to put the plan into action.


Fears are also growing that subsequent austerity measures being put in place in the eurozone will hit growth.


Meanwhile, there was little comfort from top economist Nouriel Roubini, who was one of the few experts to forecast the financial crisis.


“What’s happening in Greece is just the tip of an iceberg of a broader range of sovereign debt issues, of deficit, in many advanced economies,” he warned late on Tuesday.


The new crisis could occur “not just in the eurozone but UK, US, or Japan,” he said in a speech at the London School of Economics.


“The next stage of the crisis could be a sovereign debt crisis that could lead to a double-dip recession.”


He reiterated his view that “there is a possibility of a breakup of the monetary union.”


“One or more countries of the eurozone could default,” said the New York University professor.

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Source: SGGP

Stocks slump as investors neglect

In Uncategorized on April 14, 2010 at 7:34 am

The shares of 221 companies and four close-ended funds listed on the Ho Chi Minh Stock Exchange fell 0.34 percent on April 14 as investors were not in buying mood.

Vietnam’s benchmark VN-Index slid 1.77 points to finish at 516.21. Trading volume dropped to six-session low as around 45.1 million shares were traded at VND1.73 trillion.


Among the index members, 86 gained, 93 fell, and 46 remained unchanged.


Electronics manufacturer Viettronics Tan Binh Joint Stock Company (VTB), which gave up 4.81 percent to VND17,800, was the biggest losers on the city bourse.


Hatien2 Cement Joint Stock Company (HT2) lost by 4.03 percent to VND14,300 from VND14,900. Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC) dropped 3.95 percent to VND24,300.


Saigon Commercial Bank or Sacombank (STB) returned to the spot of the most active share in volume with 1.79 million shares changing hands at VND21,900, followed by Truong Thanh Furniture Corporation (TTF) with 983,080 shares, and Société De Bourbon Tay Ninh (SBT) with 957,930.


Gainers on the southern bourse included Ngo Han Joint Stock Company (NHW), and Viet Nhat Seafood Corporation (VNH). Both added up 4.98 percent to VND21,100 and VND23,200 respectively.


Thien Nam Trading Import Export Corporation (TNA) edged up 4.97 percent to VND33,800.


Meanwhile, shares on the smaller bourse in the north made a better performance as the Hanoi’s HNX-Index gained 0.49 points, or 0.29 percent, to close at 169.06. Liquidity was lower than the previous day as around 36.6 million shares, worth VND1.3 trillion, were traded.


The UPCoM-Index also rallied. The index of the over-the-counter market rose 0.31 percent, or 0.13 points, to 41.57 points. A total of 174,147 shares was  changed hands at VND2.4 billion.

Source: SGGP

Stocks slump below 500

In Uncategorized on March 31, 2010 at 10:56 am

Vietnam benchmark’s VN-Index slipped off the 500-point mark on March 31 under selling pressure. Liquidity fell 12 percent in quantity and 11 percent in value over the previous day.

The shares of 215 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange tumbled 0.29 percent, or 1.48 points, to close at 499.24. Total trading volume dropped to 52.3 million shares, worth more than VND2 trillion.


Among the index members, 107 fell, 68 gained and 45 were flat.


Decliners on the southern bourse were led by South Logistics Joint Stock Company (STG), which closed down 4.96 percent to VND32,600; HCMC-based Seafood Joint Stock Company No4 (TS4); and Long Giang Investment and Urban Development Joint Stock Company (LGL) located in Hanoi.


Vietnam Export Import Commercial Joint Stock Bank, or Eximbank (EIB), topped the list of most active shares in volume with 3.87 million shares trading at VND23,400, up 0.43 percent. Nam Viet Corporation (ANV) came next with 1.99 million shares, followed by Cables and Telecommunications Material Joint Stock Company (SAM), which saw 1.83 million shares change hands.


Construction company Long Hau Corporation (LHG), located in Long An Province, was the biggest winner. Its stock gained the daily maximum allowed limit of 5 percent to VND63,000.


Cuongthuan Investment Corporation (CTI) was next, gaining 4.98 percent to VND25,300.


Vien Dong Investment Development Trading Corporation (VDI) followed with an increase of 4.96 percent to trade at VND12,700.


The northern market was also in the red as the HNX-Index dropped to 160.55, down 1.82 points or 1.12 percent over Wednesday. More than 22.4 million shares were traded at VND750.4 billion.


Meanwhile, the UPCoM-Index gained 0.07 points or 0.15 percent to 46.05. A total of VND5 billion was spent trading 337,272 shares.

Source: SGGP

VN-Index sees small rise as most blue-chips slump

In Uncategorized on March 24, 2010 at 6:22 am

Vietnam’s benchmark VN-Index on March 15 rose slightly while most blue-chips declined due to investors’ caution.

The shares of 211 companies and four close-ended funds listed on the Ho Chi Minh Stock Exchange, gained 0.35 points, or 0.06 percent, to finish at 531.86. Around 56.56 million shares, worth VND2.35 trillion changed hands.


Among the index members, 114 shares advanced, 64 fell, and 37 were unchanged.


Saigon Commercial Bank or Sacombank (STB), which lost 0.42 percent to VND23,800, was the most active stock in volume as 2.83 million shares were traded on the city bourse.


The HCM City-based Tan Tao Industrial and Investment Corp. (ITA) came next with more than 2.75 million shares changing hands, followed by Vietnam Export Import Commercial Joint Stock Bank (EIB), the only banking share that advanced today, with more than 1.64 million shares traded.


Gainers on the southern market were led by the city-based Transforwarding Warehousing Joint Stock Corporation (TMS); seafood producer Vinh Hoan Corp. (VHC), located in the Mekong Delta province of Dong Thap; the Ba Ria – Vung Tau-based Viet Nam Golf Tourism Joint Stock Company (VNG); and the Dat Xanh Real Estate Service & Construction Corporation (DXG).


They all added up the maximum daily allowed limit of 5 percent to VND33,600, VND46,200, VND10,500, and VND73,500 respectively.


The Ho Chi Minh Stock Exchange also gave the go-ahead to Vinh Hoan Corp. to list an additional 5,328,000 shares, worth VND53.28 billion.


An Phu Irradiation Joint Stock Company (APC) and wire producer Ngo Han Joint Stock Company (NHW) topped the list of losers. Both gave up 4.85 percent to VND31,400 and VND21,600.


Next were Godaco Seafood Joint Stock Company (AGD) and Ha Tien Transport Joint Stock Company (HTV).


Meanwhile, the smaller bourse in the north failed to maintain the rising trend as the HNX-Index fell 0.13 points, or 0.07 percent, to close at 173.32.


Trading volume reached more than 35.85 million shares, worth VND1.2 trillion.


The UPCoM-Index rose 0.01 points, or 0.02 percent, to finish at 43.12. A total of 121,759 shares were traded at VND1.4 billion.





Source: SGGP Bookmark & Share

Monthly car sales slump to two-year low

In Uncategorized on October 10, 2008 at 4:57 pm

HA NOI — The auto market last month saw the lowest sales volumes seen in two years, reported the Viet Nam Automobile Manufacturers Association (VAMA).


Seventeen leading auto makers in the country sold 5,180 vehicles last month, down 33 per cent over the same period last year and 2,629 vehicles less than in August, it said.


According to the association, only Toyota had sales of more than 1,000 units last month. Six months ago, five companies reached that number.


The passenger-car segment led the figures down in September, with a 49 per cent decline year-on-year to 1,137 units, the lowest level since May 2007.


Sport Utility Vehicle and Multi Purpose Vehicle (SUV/MPV) saw a 28 per cent decline year-on-year to 1,130 units, the worst figures since April 2006.


Commercial vehicle sales also saw a 25 per cent decline year-on-year to 2,913 units.


“Severe economic recession and galloping inflation has impacted customers and negatively affected the auto market,” said a representative from GM-Daewoo in Ha Noi.


In company rankings, Toyota topped the list with 1,226 units sold last month, followed by bus and truck maker Vinamotor with 771 units, GM-Daewoo brand Vidamco with 601 units and Truong Hai with 566 units.


Car ownership remains limited to the elite and emerging upper classes in Viet Nam. The country has more than 900,000 privately-owned cars and 21 million motorbikes.


According to the Ministry of Industry and Trade, Viet Nam has more than 40 auto makers and more than 100 auto-part makers with a total capacity of more than 200,000 units per year. —