Stock market bounces back after two sharp falls

The Ho Chi Minh Stock Exchange rebounded on Thursday as investors found share prices fall to attractive level after the two sharply falling days earlier.

Investors watch electronic boards of stock prices in a trading session at ACB Securities Company

The VN-Index, Vietnam’s main stock index, advanced 3.91 points, or 1.14 percent, to close at 346.24.

Trading volume reached 16.2 million shares worth VND631 billion. Of the index’s 167 members, 88 rose and 41 fell.

Hang Xanh Motor Service Joint-Stock Co. (HAX) climbed VND700, or 4.8 percent, to close at VND15,400. The shares slid 17 percent in the previous four sessions.

Four board members of the HCMC-based company, including the general director, registered to buy a total of 110,000 shares, to boost their holdings to 360,436 shares, within six months, the company said in a statement posted on the bourse after the market closed yesterday.

Sieu Thanh Joint-Stock Co. (ST8) rose VND1,200, or 4.8 percent, to close at VND26,200. Vice Chairwoman Pham Thi Mai Duyen registered to buy 314,017 shares until December 6 to increase her holding in the HCMC-based company to more than 1.4 million shares, according to a statement filed on the exchange's Web site yesterday.

Thien Nam Trading Import Export Corp. (TNA) gained VND500, or 2.9 percent, to close at VND17,600. Pretax profit was VND16.5 billion (US$972,000) in the first 10 months, an increase of 23 percent from the same period last year, the company said in a statement filed on the bourse's Web site yesterday.

Vietnam Dairy Products Joint-Stock Co. (VNM), the country's biggest dairy maker, rose VND4,000, or 4.9 percent, to close at VND86,500. The company, known as Vinamilk, said yesterday it received approval from the Singapore Exchange Ltd. to list 8.8 million shares on the bourse, without saying when it will take place. 

Vinamilk said November 11 that net income jumped 39 percent to about VND1.13 trillion in the first 10 months, from VND815 billion a year earlier.

Vietnam Sun Corp. (VNS) added VND100, or 0.5 percent, to close at VND20,000. The firm will buy back 510,000 shares within three months starting from Nov. 21, according to a statement posted on the bourse's Web site yesterday.

At Hanoi’s exchange, the HaSTC-Index closed at 110.64, showing a 2.1 percent fall, or 2.37 points, from Wednesday’s trading session.   

Reported by Thieu Gia

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