Blue-chip stocks drive market down

The Vietnam’s benchmark VN-Index made a slight correction on June 13 as large-cap stocks declined, whereas cheap stocks attracted investors.

The gauge of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange went down 0.52 percent, or 2.31 points, to close at 442.69 points.

On the index, gainers doubled losers as 155 stocks advanced, 71 fell, while 63 remained unchanged.

Trading on the city bourse rose by 40 in volume and 33 percent in value over the previous trading session as 57.63 million shares changed hands at a value of VND887 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued to top the list of most active shares by volume with 2.46 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) took the second rank with 1.68 million shares traded.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) tagged along with 1.56 million shares changing hands.

Petrolimex International Trading Joint Stock Company (PIT) capped its four-day winning streak, collapsing 10.43 percent to VND10,300. The company will pay dividends for the year 2010 to its current shareholders at a ratio of 10 percent on July 1. It also plans to issue 590,516 bonus shares next month to reward its current shareholders at a ratio of 100:5.

Pomina Steel Corporation (POM) dropped 7.33 percent to VND17,700.

Bao Viet Holdings (BVH), and Dong Thap Trading Corporation (FDG) both contracted 5 percent to VND85,500, and VND17,100 respectively.

Gainers on the city bourse included sweets producer Bibica Corporation (BBC), Na Ri Hamico Mineral Joint Stock Company (KSS), and Lilama 10 Joint Stock Company (L10). They all jumped 5 percent to VND12,600, VND16,800, and VND12,600 respectively.

Meanwhile, the Hanoi’s HNX-Index of the smaller in the north opened week with a contrast move, climbing 2.24 percent, or 1.77 points, to 80.87 points. Trading slightly improved by 4.3 percent in volume and 6.89 percent in value over the previous trading session as 60.93 million shares worth VND750 billion changed hands.

The UPCoM-Index of unlisted shares also bounced 0.24 points, or 0.72 percent, to 33.58 points. A total of 255,078 shares changed hands at a value of VND3.75 billion as of 2:30 pm local time.

By Thuy Doan

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