Investors unexpectedly dump mining shares

Vietnam’s benchmark VN-Index surged marginally on May 8 as investors unexpectedly dumped mining shares heavily, paring today’s gain.

The gauge of 304 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange grew 0.36 per cent, or 1.76 points, to close at 488.07 points with 177 advancers, 98 decliners, and 34 stocks remaining unchanged.

Trading on the city bourse rose by nearly 32.5 per cent in volume, and 23 per cent in value over the previous trading session as more than 133.17 million shares changed hands at a total value of VND2.22 trillion.

Military Commercial Joint Stock Bank (MBB) was the most active share in volume with 7.55 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) remained at second place with 5.98 million shares.

Vinh Son - Song Hinh Hydropower Joint Stock Company (VSH) came third with 3.55 million shares traded.

Ben Thanh Rubber Joint Stock Company (BRC), Bank for Investment & Development of Vietnam Securities Company (BSI), Petrolimex Gas Joint Stock Company (PGC), Vietnam Ocean Shipping Joint Stock Company (VOS), Innovative Technology Development Corporation (ITD), and Mien Trung Petroleum Construction Joint Stock Company (PXM) were the biggest gainers on the city bourse today. They soared 5 per cent to close at VND16,800, VND8,400, VND12,600, VND4,200, VND10,500 and VND8,400 respectively.

National Seed Joint Stock Company (NSC) salvaged 4.99 per cent to close at VND46,300.

Hung Vuong Joint Stock Corporation (HVG) strengthened 4.97 per cent to close at VND40,100.

Petro Vietnam General Services Joint Stock Corporation (PET) vapourised 11.05 per cent to close at VND15,300. The company will pay dividends to its current shareholders in cash at a ratio of 18 per cent on May 28.

Saigon Cable Corporation (CSG) plunged 7.92 per cent to end at VND9,300.

Petrolimex Joint Stock Tanker Company (PJT) contracted 5.56 per cent to close at VND8,500. The company will pay dividends to its current shareholders in cash at a ratio of 6 per cent on May 25.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – moved forward 4.72 points, or 0.85 per cent, to end at 557.02. Among its 30 members, 13 stocks rallied, 11 sank and 6 closed flat.

Hanoi’s HNX-Index of the smaller bourse in the north slid 0.18 per cent, or 0.15 points, to close at 83.64 points with 182 winners, 135 losers, and 44 stocks treading water. Around 123.4 million shares changed hands at a total value of VND1.43 trillion.

Meanwhile, the UPCoM-Index of unlisted shares built up 0.94 per cent, or 0.33 points, to close at 35.49 points. A total of 1,273,580 shares changed hands at VND10.97 billion.

By Thuy Doan

Other news