Stocks unchanged as investors wait for news

The Ho Chi Minh Stock Exchange treaded water on Wednesday, as investors stayed put to wait for more corporate earning reports and economic forecasts.

The VN-Index dropped for a second day, creeping down 0.84, 0.2 percent, to 446.79. Among the index members, 62 gained, 69 declined, and 31 were unchanged.

Vincom Joint-Stock Co.(VIC), Vietnam’s second-biggest listed real-estate developer, plunged by the daily maximum limit of five percent, the most since April 21, to VND46,100.

Hanoi-based Vincom will spend VND885 billion ($50 million) to raise its stake in Hanoi-based Hoang Gia Property Investment & Development to 51 percent, Vincom said in a statement to the exchange.

Vinpearlland Tourism (VPL), one of the country’s leading resort operators, declined 3.7 percent to VND64,500.

Vinpearlland, based in the southern coastal city of Nha Trang, will pay VND575 billion for 57.5 million shares to increase its holdings in Hoang Gia Property Investment & Development to 34 percent, Vinpearlland said in a statement.

Minh Phu Seafood (MPC), Vietnam’s second-biggest listed seafood company, rose 1.8 percent to VND22,700, the first gain in three days.

Minh Phu, based in the southernmost province of Ca Mau, said its exports rose more
than 16 percent in the first half from a year earlier, according to a company statement. The company exported more than 5.5 million tons of seafood produce, the statement said.

At the Hanoi Stock Exchange, the HNX-Index fell marginally 1.42 points, 0.94 percent, to finish at 149.26.

By Phong Linh

Other news