VN-Index unexpectedly rebounds

The Vietnam’s benchmark VN-Index rose the first time in four days on June 16 as investors regained confidence.

The shares of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange reversed 0.84 percent, or 3.72 points, to close at 445.17 points.

On the index, the number of gainers doubled losers as 152 stocks advanced, 71 retreated, while 66 remained unchanged.

Trading on the city bourse dropped by 31 percent in volume and 33 percent in value over the previous trading session as 34.48 million shares changed hands at a value of nearly VND573 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share by volume for nine consecutive trading sessions with 2.61 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) climbed to the second place with 1.51 million shares traded.

PetroVietnam Transportation Corporation (PVT) came next with 1.38 million shares.

Gainers on the city bourse included Song Da Urban & Industrial Zone Investment & Development Joint Stock Company (SJS), Quoc Cuong Gia Lai Joint Stock Company (QCG), and Lu Gia Mechanical Electric Joint Stock Company (LGC). They all sprang 5 percent to close at VND33,600, VND21,000, and VND18,900 respectively.

Ngo Han Joint Stock Company (NHW) sank 7.96 percent to close at VND10,400 after treading water for eight consecutive trading sessions.

Materials - Petroleum Joint Stock Company (COM) tumbled the second day, eroding 6.58 percent to VND28,400. The company will pay dividends for the year 2010 and advance dividends for the first term of 2011 to its current shareholders in cash at a ratio of 6 percent on July 6.

Other losers included Industrial Urban Development Joint Stock Company No. 2 (D2D), Descon Construction Corporation (DCC), and Lilama 18 Joint Stock Company (LM8).

The Hanoi’s HNX-Index of the smaller in the north also recovered 1.21 percent, or 0.94 points, to 78.68 points. Trading volume on the northern market slightly improved over the previous trading session as 58.4 million shares worth VND720.25 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares made a contrast move, trimming 0.08 points, or 0.24 percent, to 33.14 points. A total of 100,420 shares changed hands at a value of VND840 million as of 11:30 am local time.

By Ngoc Giao

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