VN-Index goes beyond 400

Vietnam’s benchmark VN-Index strongly jumped for the fourth trading session to the highest level since the beginning of this month on August 18 as investors rushed to buy on speculation that stocks were at attractively low values.

The gauge of 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange accelerated 2.4 percent, or 9.43 points, to close at 402.89 points, the strongest rise since June 22.

Of the index members, 169 stocks gained, 62 slid, while 69 remained unchanged.

Trading on the city bourse decreased by 21 percent in volume and 40 percent in value as around 31 million shares changed hands at a value of VND488 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share by volume for a second day with 3.75 million shares traded.

Tan Tao Investment & Technology Joint Stock Company (ITA) followed with 1.07 million shares changing hands.

Construction company Licogi 16 Joint Stock Company (LCG) came next with 993,040 shares.

Food producer Basa Joint Stock Company (BAS), PetroVietnam General Services Joint Stock Corporation (PET), PetroVietnam Finance Joint Stock Corporation (PVF), and Vietnam Active Fund (VFMVFA) were the biggest gainers on the primary bourse. They shot up 5 percent to close at VND2,100, VND12,600, VND12,600, and VND4,200 respectively.

Dry Cell And Storage Battery Joint Stock Company (PAC) extended its winning run for eight straight trading sessions, building up 4.96 percent to VND40,200.

Ha Do Group Joint Stock Company (HDG) rose the third day, adding up 4.94 percent to VND17,000.

Tien Giang Investment and Construction Joint Stock Company (THG) sank for 15 consecutive trading sessions, dismissing 9.8 percent to VND9,200.

IDICO Infrastructure Development Investment Joint Stock Company (HTI) curbed its five-day winning streak, eroding 5.88 percent to close at VND6,400. The company will pay dividends for the second term of 2010 to its current shareholders in cash at a ratio of 7 percent on August 31.

Viky Plastic Joint Stock Company (VKP) plunged 5.26 percent to finish at VND1,800.

The Hanoi’s HNX-Index of the smaller bourse in the north sprang 1.34 percent, or 0.9 points, to finish at 68.31 points. Trading on the northern floor slightly dropped over the previous day as 45.42 million shares changed hands at a value of nearly VND460 billion.

The UPCoM-Index of unlisted shares surged 0.74 percent, or 0.23 points, to 31.11 points. A total of 176,200 shares changed hands at a value of VND1.61 billion as of 2:50 pm local time.

By Thuy Doan

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