VN-Index edges up slightly on profit taking

Share prices on the Ho Chi Minh Stock Exchange treaded water on Wednesday as investors started selling off to book profits.

The VN-Index edged up 0.14 points, 0.03 percent, to close at 425.17. Of the index’s 182 members, 80 stocks advanced and 85 fell. A total of 56.4 million shares, worth VND1.9 trillion (US$107 million), were traded.

Hoa Sen Group (HSG), a steel and building products maker, fell the most in two months, dropping by the daily limit of five percent to a one-week low of VND26,800.

Hanoi-based Bao Viet Securities Co. will sell 406,350 of its Hoa Sen shares, 0.71 percent stake, by August 21 to restructure its portfolio, it said in a statement to the exchange after the market closed yesterday. 

Can Don Hydro Power Joint-Stock Co. (SJD) lost 2.94 percent to close VND16,500. The power supplier announced on the bourse’s website that it will pay eight percent dividend and go ex-dividend on June 3.

The company’s post-tax profits in the first three months of the year dropped 43.86 percent year-on-year to VND9.62 billion, or VND322 per share.

Lam Dong Mineral and Building Material Joint-Stock Co. (LBM) increased by the daily trading limit of five percent to VND19,000.

Lam Dong Hydropower Construction and Investment Joint-Stock Co. registered to sell 180,000 shares to lower its holdings in the company to 168,924, according to the exchange’s website. The sale will start tomorrow and finish on August 28.

Lam Dong Mineral and Building Material Joint-Stock Co. also informed the bourse that vice chairman Pham Tuan Anh will cut his holdings to 10,840 shares by selling 15,000 before August 28.

At the smaller bourse in Hanoi, the HaSTC-Index slipped 1.9 points, 1.27 percent, to close at 148.28.

Reported by Cat Tuong

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