Shares retreat due to profit-taking

The Vietnam’s benchmark VN-Index edged down on June 22 as investors sold shares heavily to lock in gain of the previous day amid liquidity drained.

The gauge of 286 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange erased 0.7 percent, or 3.11 points, to close at 439.63 points.

Of the index, 80 stocks climbed, 126 retreated, while 85 remained unchanged.

Trading volume on the city bourse decreased by 16 percent in volume over the previous trading session as 24.94 million shares changed hands at a value of nearly VND647 billion, up 10 percent from a day earlier.

Saigon Securities Inc. (SSI), the country’s largest brokerage, topped the list of most active shares by volume with 1.55 million shares changing hands.

PetroVietnam General Services Joint Stock Corporation (PET) took the second rank with 851,250 shares traded.

Tan Tao Investment & Technology Joint Stock (ITA) came next with 787,380 shares.

Vietnam Tanker Joint Stock Company (VTO) plummeted 11.29 percent to close at VND5,500. The company will pay dividends for the year 2010 to its current shareholders in cash at a ratio of 6 percent on July 11.

Tan Binh Import Export Joint Stock Corporation (TIX) slashed 5 percent to VND19,000. The company was allowed to list 12 million additional shares worth VND120 billion on June 16.

Dong A Plastic Joint Stock Company (DAG) slid 4.93 percent to VND13,500.

Domesco Medical Import Export Joint Stock Corporation (DMC) and Imexpharm Corporation (IMP) fortified 5 percent to VND21,000, and VND42,000 respectively.

Cu Chi Commercial & Industrial Developing Investment Joint Stock Company (CCI) reclaimed 4.92 percent to VND12,800.

Savimex Corporation (SAV) bounded 4.86 percent to close at VND30,200.

The Hanoi’s HNX-Index of the smaller in the north also declined, adjusting 0.83 percent, or 0.64 points, to finish at 76.41 points. Trading on the northern market dropped by 27.4 percent in volume and 20 percent in value over the previous trading session as 38.24 million shares worth VND468.6 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares made a contrast move, adding up 0.02 points, or 0.06 percent, to 32.66 points. A total of 676,470 shares changed hands at a value of VND4.53 billion as of 1:50 pm local time.

By Uyen Nhi

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