No light yet at the end of tunnel for HCMC stocks

The losing streak at the Ho Chi Minh Stock Exchange extended for a 10th straight day Monday.

The VN-Index, a measure of 173 companies and four closed-end funds, lost 8.55 points, or 3.4 percent, to close at 244.02.

Turnover was more than 9.6 million shares worth VND178 billion ($10.2 million) as 134 stocks declined and only 17 gained.

Cavico Vietnam Mining and Construction Joint-Stock Co. (MCV) slid 4.9 percent to VND7,800. Cavico Vietnam Ltd. has pared its stake in the company to 25.55 percent from 26.13 percent, according to a statement posted on the exchange’s website.

Dien Quang Lamp Joint-Stock Co. (DQC) fell 4.1 percent to VND9,300. Its net income fell 98 percent last year to VND4.4 billion ($251,700), the exchange said.

Tan Tao Investment Industry Corp. (ITA) dropped 4.8 percent to VND16,000, the lowest close since November 16, 2005. The company has received approval from the exchange to list an additional 3,666,183 shares starting today, according to a statement filed on the exchange’s bulletin.

Gas supplier Sai Gon Fuel Company (SFC) remained unchanged at VND50,000. The firm announced on the exchange’s website that general director Cao Van Phat registered to buy 30,000 shares before August 24 to raise his holding to 31,800.

The HaSTC-Index at the smaller exchange in Hanoi slipped 4.68 percent to finish at 80.26 points.

Reported by Thieu Gia

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