VN-Index sinks below 300 mark

The Ho Chi Minh Stock Exchange fell to its lowest level since Oct 2005. (Photo: Thieu Gia)

The Ho Chi Minh Stock Exchange fell below 300 points on Friday, its lowest level since October 2005.

The VN-Index, a gauge of 167 leading firms and four closed-end funds, slumped 8.92 points, or 2.89 percent, to close at a three-year low of 299.68.

Trading volume accounted to 10.3 million shares as 131 stocks lost ground, 19 gained and 22 remained steady.

Cables & Telecommunications Material Joint Stock Co. (SAM), which makes and markets telecommunication wire and cable products, fell VND600, or 3.9 percent, to close at VND14,600, its lowest since February 2004.

Tran Xuan Nghia, a member of the company's supervisory board, registered to sell 11,254 shares by the end of this month, according to a statement posted the exchange website yesterday after the market close.

Can Tho Techno-Agricultural Supplies Joint Stock Co. (TSC), one of Vietnam's biggest fertilizer importers, dropped VND1,900, or 4.9 percent, to finish at VND37,100.

Thong Nhat Rubber Joint Stock Co. (TNC) posted its first gain in a week, climbing VND400, or 4.7 percent, to close at VND9,000.

Vegetexco Port Joint Stock Co. (VGP) rose VND400, or 2 percent, to close at VND20,400. The Ho Chi Minh City-based company plans to pay shareholders a dividend of 800 dong (5 cents) per share on December 30, according to a company statement on the exchange website.

The Hanoi stock exchange was also bearish as the HaSTC-Index dropped 3.08 points, or 2.89 percent, to close at 103.54.

Reported by Thieu Gia

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