HCMC Stocks Unimpressed By International Rally

The Ho Chi Minh Stock Exchange trod water Wednesday though international markets rallied after Tuesday’s sharp fall.

European shares rose Wednesday, after gains in Asia and overnight on Wall Street, amid renewed hope that a revised version of a US financial rescue plan would be adopted by Congress, dealers said.

The VN-Index lost 2.38 points, or 0.52 percent to close at 454.32.

Trading volume reached 19.4 million shares worth VND706 billion, four time higher than yesterday’s figure. Among the market’s 164 members, 75 advanced and 71 declined.

Thu Duc Housing Development Joint-Stock Co. (TDH) fell by VND1,900, or 4.6 percent, to close at VND39,600. The HCMC-based company got approval from the stock exchange to sell an additional 2,250,000 shares, according to a statement posted on the exchange's Web site after the market closed yesterday.

Dry Cell & Storage Battery Joint-Stock Co., known as Pinaco, fell for a third straight day, losing VND800, or 2 percent, to finish at VND41,500. Pham Kieu Diem, a director, reduced her holding to 23,670 after selling 2,000 shares, the exchange said.

Tan Dai Hung Plastic Joint-Stock Co. slid VND100, or 0.9 percent, to close at VND10,900 after saying it got permission to list 10,146,000 new shares.

Ba Ria-Vung Tau Housing Development Joint-Stock Co. lost VND700, or 2 percent, to close at VND32,700. Vu Hong Duong, a board member, registered to sell 3,000 shares to cut her holding by December to 0.11 percent from 1.15 percent.

Cables & Telecommunications Material Joint-Stock Co. gained VND600, or 3 percent, to close at VND22,400. The company, known as SAM, has completed a buyback of 1 million shares.

Reported by Thieu Gia

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