VN-Index wraps week in red

Vietnam’s benchmark VN-Index dropped at the steepest pace in three weeks on February 18 as investors sold heavily on speculation of negative economic data.

The measure of 280 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange collapsed 1.16 percent, or 5.91 points, to close at 503.92 points.

On the index, 37 stocks gained, 213 shrank, while 35 remained unchanged.

Trading volume slightly improved over the previous trading session, totaling 38.44 million shares changed hands at a value of VND896 trillion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued ranking as the most active share in volume with 2.36 million shares changing hands.

Saigon Thuong Tin Commercial Bank or Sacombank chased after with 1.75 million shares, followed by Investment and Trading of Real Estate Joint Stock Company (ITC) with 1.45 million shares traded.

Binh Duong Trade and Development Joint Stock Company (TDC) shed 50.75 percent to VND13,100. The company will issue 80 million additional shares to increase its chartered capital to VND1 trillion. The shares will be sold to its current shareholders at a ratio of 4:1. In additional, the company will pay dividends to its current shareholders at a rate of 40 percent on April 13.

Lix Detergent Joint Stock Company (LIX) went down 5.88 percent to VND56,000. The company will pay dividends to its current shareholders in cash at a ratio of 15 percent since March 10.

Binh Dinh Minerals Company (BMC) sank 5.24 percent to trade at VND23,500. The company will pay dividends the second time for the year 2010 at a ratio of  13 percent.

Vinpearl Joint Stock Company (VPL) proceeded 5 percent to VND52,500.

Ngo Han Joint Stock Company (NHW) leaped forward for four straight days, enhacing 4.88 percent to VND17,200.

Vinh Long Cereal and Food Import Export Company (VLF) strengthened 4.57 percent to VND22,900.

The smaller bourse in the north declined for the whole week as the Hanoi’s HNX-Index tumbled 1.6 percent, or 1.66 points, to close at 102.31 points. Trading volume slightly improved over the previous day as around 27.97 million shares changed hands worth VND467.5 billion.

Meanwhile, the UPCom-Index adjusted 0.11 points to 41.43 points this morning. A total of 140,000 shares changed hands at a value of VND2.1 billion.

By Hoang Nhan

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