Stocks wrap week in green

The Vietnam’s benchmark VN-Index slightly edged up on June 10 as investors scrambled to buy below-par-value stocks on speculation of a new uptrend.

The gauge of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange inched up 0.24 percent, or 1.05 points, to close at 445 points.

This week, the benchmark added 0.36 percent, paring this year’s loss to 8.1 percent.

Of the index, 205 stocks gained, 35 lost, while 49 remained unchanged.

Trading on the city bourse rose by 23 in volume and 16 percent in value over the previous trading session as 41.11 million shares changed hands at a value of VND667 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share by volume with 5.39 million shares changing hands.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) followed with 1.82 million shares traded.

Tan Tao Investment & Technology Joint Stock Company (ITA) tagged along with 1.51 million shares changing hands.

Winners on the city bourse included Binh Duong Construction & Civil Engineering Joint Stock Company (BCE),  DESCON Industry Construction Corporation (DCC), and  Everpia Vietnam Joint Stock Company (EVE). They all sprang 5 percent to VND8,400, VND16,800, and VND25,200 respectively.

Vietnam Fumigation Joint Stock Company (VFG) slumped 21.31 percent to close at VND48,000. The company will pay dividends for the year 2010 and advance dividends for the first term of 2011 in cash to its current shareholders at a ratio of 15 percent on June 30. It will also issue 2,924,470 bonus shares to reward its current shareholders at a ratio of 10:3.

Saigon Fuel Joint Stock Company (SFC) slid the second day, deleting 4.88 percent to VND23,400.

Food producer Vinh Hoan Corporation (VHC) dropped 4.7 percent to close at VND30,400.   

The Hanoi’s HNX-Index of the smaller in the north also jumped 2.21 percent, or 1.71 points, to finish week at 79.1 points. Trading volume slightly improved over the previous trading session as 58.38 million shares worth VND701.2 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares reversed 0.75 points, or 2.3 percent, to close week at 33.34 points. A total of 241,300 shares changed hands at a value of VND1.48 billion.

By Sao Khue

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