HCMC stocks continue to dive

Stocks on the Ho Chi Minh Stock Exchange continued to hemorrhage on Thursday.

The VN-Index fell for the fourth straight session, losing 8.3 points, 2.9 percent, to close at 277.81.

Turnover was 7 million shares worth VND152.5 billion ($8.7 million). Of the index’s 176 members, 141 fell and a mere 13 advanced.

Vinpearl Tourism & Trading Joint-Stock Co. (VPL), a resort operator, recorded its greatest loss since October 27 and fell VND2,100, 4.85 percent, to close at VND41,200 ($2.36). Vinpearl announced that profits slumped 59 percent last year after visitors to its main resort, in the coastal southern province of Nha Trang, dropped by 47 percent in the fourth quarter.

Nam Viet Corp. (ANV), Vietnam’s biggest catfish processor known as Navico, slumped VND700, 4.1 percent to VND15,500. Nam Viet posted a loss of VND126.4 billion ($7.2 million) in the last quarter of 2008, according to a report on the exchange’s website.

Saigon Beverages Joint-Stock Co. (TRI), also known as Tribeco, dropped VND300,
4.48 percent, to VND6,400. This is Tribeco’s biggest drop since December 10 after the exchange said on its website that the company’s loss last year may exceed its registered capital.

Dong Phu Rubber Joint-Stock Co. (DPR) plunged VND1,000, 3.23 percent, to close at VND30,000. Dong Phu’s 2008 net income rose to VND236.3 billion ($15 million) from VND230.2 billion in the previous year, according to its website.

The smaller bourse in Hanoi continued on a downward trend, as the HaSTC-Index slid 3.61 points, 3.85 percent, to finish 90.21.

By Thieu Gia

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