Stocks close week in bright note

Stocks on the Ho Chi Minh Stock Exchange regained ground the second day on May 27 as investors continued buying heavily to take advantage of low prices after the benchmark dropped steeply for ten straight days.

The Vietnam’s benchmark VN-Index, which tracks 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, fortified 3.21 percent, or 12.78 points, to close at 410.82 points.

This week, the gauge lost 5.1 percent, following a previous loss of nearly 10 percent last week.

Among the index members, 197 edged up, 46 dropped, while 46 remained unchanged.

Trading on the city bourse declined by 36 percent in volume and 37 percent in value over the previous trading session as 30 million shares changed hands at a value of VND510 billion.

Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) topped the list of most active shares in volume with 3.12 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, dropped to second rank with 2.58 million shares.

Tan Tao Investment & Technology Joint Stock Company (ITA) tagged along with 934,440 shares traded.

Winners on the city bourse included Hoa Phat Group Joint Stock Company (HPG), Cavico Viet Nam Mining & Construction Joint Stock Company (MCV), and Refrigeration Electrical Engineering Corporation (REE). They all mounted 5 percent to VND31,500, VND6,300, and VND10,500 respectively.

Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) rebounded 4.99 percent to VND42,100.

Ho Chi Minh City Securities Corporation (HCM) advanced the second day, growing up 4.97 percent to VND16,900.

Cuu Long Petro Urban Development & Investment Corporation (CCL) slashed 11.51 percent to VND12,300. The company will pay dividends for the year 2010 to its current shareholders in cash at a ratio of 10 percent on June 14.

TMT Automobile Joint Stock Company (TMT) sank for four straight days, eroding 10.84 percent to VND7,400. The firm will pay dividends to its current shareholders in cash as a ratio of 11 percent on June 20.

Southern Rubber Industry Joint Stock Company (CSM) resumed its losing run, eliminating 9.66 percent to VND13,100.

The Hanoi’s HNX-Index of the smaller in the north lightly rose 0.7 percent, or 0.49 points, to close at 70.83 points. Trading volume fell by 46 percent and trading value 40 percent over the previous trading session as 31.85 million shares worth VND340.49 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares added up 0.17 points to 32.62 points this morning. A total of 203,200 shares changed hands at a value of VND2.15 billion as of 11:10 am local time.

By Bao Phuong

Other news