VN-Index drops to three-month low

Vietnam’s benchmark VN-Index extended its losing streak to three straight days to a three-year low on January 5 as pessimistic sentiment urged investors to dumped shares heavily to cut loss.

The gauge of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange nosedived 2.26 percent, or 7.9 points, to close at 340.94 points.

Among the index members, 60 winners, 149 losers, while 97 stocks remained unchanged.

Trading on the city bourse fell by 21 percent in volume, and 11 percent in value over the previous day as 20.62 million shares changed hands at a total value of VND304 billion.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) topped the list of most active shares in volume with 1.81 million shares changing hands.

Viet Nhat Medical Instrument Joint Stock Company (JVC) won second rank with 1.08 million shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, followed with 848,330 shares traded.

Construction Joint Stock Company 47 (C47) plunged 11.46 percent to close at VND8,500. The company will pay dividends for the first term of the year 2011 to its current shareholders in cash at a ratio of 10 percent on January 19.

Viet Nhat Medical Instrument Joint Stock Company (JVC) shrank 7.26 percent to close at VND16,600. The company’s current shareholders will receive dividends for the first term of the year 2011 in cash at a ratio of 20 percent on February 17.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) retreated 5.88 percent to close at VND1,600.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) rebounded 7.14 percent to finish at VND1,500.

Minh Phu Seafood Corporation (MPC) edged up the third day, rising 5 percent to VND16,800.

Saigon General Service Corporation (SVC) mounted 4.89 percent to finish at VND19,300.

Hanoi’s HNX-Index of the smaller bourse in the north sank 0.96 percent, or 0.54 points, to close at 55.89 points. Around 20.37 million shares changed hands at a value of VND181.57 billion.

Meanwhile, the UPCoM-Index of unlisted shares recovered 0.15 percent, or 0.05 points, to close at 33.69 points. More than 4.09 million shares changed hands at a value of VND201.41 billion.

By Thuy Doan

Other news