Stocks unchanged amid record turnover

The Ho Chi Minh Stock Exchange inched down on Wednesday, with trading volume and value hitting an all-time high.

VN-Index, the gauge of 174 stocks on Vietnam’s main stock exchange in HCMC, lost marginally 0.74 points, 0.13 percent, to close at 582.11. Among its members, 84 stocks advanced and 65 declined.

Turnover surged to around 92 million shares worth VND4.43 trillion, both record levels on the exchange.

Licogi 16 Joint-Stock Co. (LCG), a Ho Chi Minh City-based builder and property developer, dropped for the first time in four days, trimming 2.8 percent, to VND88,000.

Locogi plans to issue 4.6 million additional shares by the year’s end, according to a company statement on the exchange’s website.

Vietnam Sun Corp. (VNS), a provider of travel services, fell 1.9 percent, to a 13-day low of VND50,500.

The HCMC-based company has agreed to raise its pay to its drivers after they complained that higher fuel costs were cutting their incomes, Vietnam Sun said on the bourse’s website. The company will raise drivers’ pay 2.5 percent, the statement said. The increase will bring up the company’s costs.

Saigon Telecommunication & Technology Corp. (SGT), an Internet and software-services provider, jumped 4.6 percent, the biggest gain in five weeks, to VND25,000.

The company, known as SaigonTel received a VND1.5 trillion (US$84 million) loan to accelerate a $1.2 billion software park project, according to a company statement on the exchange’s website.

Lilama 10 Joint Stock Co. (L10 VN), rallied for a fourth day, climbing 4.9 percent, to VND27,700, the highest since March 17, last year. The Hanoi-based machinery producer has won a VND157 billion contract to provide equipment and upgrade electricity generators to the Thac Bac hydropower plant, according to a statement on Thac Ba’s website.

Huu Lien Asia Corp. (HLA), the fourth-biggest listed steel company on the bourse, advanced 4.9 percent, to a record high of VND36,700.

BIDV Finance Investment Co. will buy 300,000 shares to raise its holding in Huu Lien to more than one million shares, 5.5 percent, from less than four percent at the present, according to the exchange’s website.

The HNX-Index of the smaller exchange in Hanoi made a contrast move, edging up 1.45 points, 0.81 percent, to finish at 181.08.

At the unlisted stock exchange UPCoM, the UPCoM-Index also rose slightly 0.47 points, 0.71 percent, to 66.63 as of 11 pm.

By Minh Tri

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