VN-Index unexpectedly reverses, backed by BVH and VCB

Vietnam’s benchmark VN-Index made a U-turn in last minutes, driven by heavyweight stocks Bao Viet Holdings (BVH) and Vietcombank (VCB), to climb the second day on July 14.

The gauge of 289 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange built up 0.18 percent, or 0.75 points, to close at 418.93 points.

Across the electronic board, there were 95 winners, 101 losers, while 98 stocks remained unchanged.

Trading on the city bourse fell by 41 percent in volume, and 18 percent in value over the previous trading session as 24 million shares changed hands at a value of VND460 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) led the list of most active shares in volume for six consecutive trading sessions with 1.48 million shares changing hands.

Sugar maker Société De Bourbon Tay Ninh (SBT) followed with 1.19 million shares traded.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came next with 869,170 shares traded.

Da Nang Construction Building Materials & Cement  Joint Stock Company (DXV) and Bank for Foreign Trade of Vietnam (VCB) recovered 5 percent to close at VND6,300 and VND29,400 respectively.

Bao Viet Holdings (BVH) rebounded 4.96 percent to close at VND74,000.

Everpia Vietnam Joint Stock Company (EVE) surged the second day, edging up 4.85 percent to VND34,600.

Hang Xanh Motors Service Joint Stock Company (HAX) slashed 24.73 percent to close at VND7,000. The company will pay dividends for the year 2010 to its current shareholders by shares at a ratio of 12 percent. In addition, it will also reward bonus shares at a ratio of 26 percent.

Tan Dai Hung Plastic Joint Stock Company (TPC) nosedived 16.84 percent to VND7,900. The company’s current shareholders will receive dividends for the year 2010 in cash at a ratio of 15 percent on August 19.

Domesco Medical Import Export Joint Stock Corporation (DMC) contracted 5 percent to close at VND24,700.

Meanwhile, the Hanoi’s HNX-Index of the smaller in the north adjusted 0.1 percent, or 0.07 points, to finish at 71.95 points. Trading volume on the northern market only reached 19.56 million shares worth VND216.34 billion.

The UPCoM-Index of unlisted shares dipped 0.06 percent, or 0.02 points, to 32.60 points as of 2:10 pm local time. A total of 97,910 shares changed hands at a value of VND656 million.

By Vinh Bao

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