Pessimistic sentiment prevents stocks from strongly rising

The Vietnam’s benchmark VN-Index advanced the third day on May 30 although investors sold shares heavily to lock in profits of previous gains.

The measure of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange surged by 0.31 percent, or 1.28 points, to close at 412.1 points.

Among the index members, 68 climbed, 168 fell, while 53 remained unchanged.

Trading volume on the city bourse dropped by 10 percent over the previous trading session as 27.11 million shares changed hands at a value of VND516 billion.

HCMC-based Refrigeration Electrical Engineering Corporation (REE) was the most active shares by volume with 3.03 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, followed with 2.14 million shares.

Hoang Anh Gia Lai Joint Stock Company (HAG) came next with 1.46 million shares traded.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) enlarged for three consecutive days, stretching 5 percent to VND10,500.

Vincom Joint Stock Company (VIC) emerged 4.95 percent to VND106,000. The company’s 31,291 additional shares, which were converted from debenture bonds, were officially traded on the city bourse today.

Masan Group (MSN) and Tuong An Vegetable Oil Joint Stock Company (TAC) both accelerated 4.89 percent to VND96,500, and VND23,600 respectively.

Tu Liem Urban Development Joint Stock Company (NTL) crashed 47.86 percent to VND23,100. The company will issue 30.8 million shares to pay dividends for the year 2010 to its current shareholders at a ratio of 1:1.

Construction Joint Stock Company 47 (C47) was deflected 20.49 percent to VND9,700.

Viet An Joint Stock Company (AVF) crumpled 10.87 percent to VND12,300. The firm will pay dividends to its current shareholders in cash with a ratio of 10 percent on June 30.

The Hanoi’s HNX-Index of the smaller in the north slumped 1.72 percent, or 1.22 points, to close at 69.61 points. Trading volume fell by 5 million shares over the previous trading session as 26.6 million shares worth VND282.71 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares adjusted 0.59 points to 31.99 points this morning. A total of 84,000 shares changed hands at a value of VND690 million.

By Bao Phuong

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