VN-Index advances third day on local buying

Vietnam’s benchmark VN-Index climbed the third day on January 11 as investors increased buying of undervalued shares.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange added up 0.8 percent, or 2.75 points, to close at 347.43 points.

Of the index, 106 stocks advanced, 109 dropped, while 91 remained unchanged.

Trading on the city bourse fell by 21 percent in volume and 16 percent in value over the previous day as 29.07 million shares changed hands at a total value of VND420 billion.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume for nine consecutive trading sessions with 3.72 million shares changing hands.

Viet Nhat Medical Instrument Joint Stock Company (JVC) tagged along with 1.14 million shares.

Vietnam Commercial Joint Stock Export Import Bank (EIB) followed with 1.06 million shares traded.

COMA 18 Joint Stock Company (CIG) and Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT) both jumped 5 percent to close at VND4,200.

Vietnam Fumigation Joint Stock Company (VFG) emerged 4.99 percent to close at VND37,900.

Everpia Vietnam Joint Stock Company (EVE) surged for five straight trading session, escalating 4.95 percent to VND21,200.

Viky Plastic Joint Stock Company (VKP) nosedived 12.5 percent to finish at VND700.

Saigon Beer Transportation Joint Stock Company (SBC) slashed 11.72 percent to VND12,800. The company will pay dividends for the first term of the year 2011 to its current shareholders in cash at a ratio of 20 percent since January 20.

Other big losers on the city bourse today included Basa Joint Stock Company (BAS), Meca Vneco Investment & Electricity Construction Joint Stock Company (VES), and South Vietnam Container Shipping Joint Stock Company (VSG).

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north retreated 0.48 percent, or 0.27 points, to close at 55.88 points. More than 24 million shares changed hands at a value of VND202.24 billion.

The UPCoM-Index of unlisted shares inched up 0.15 percent, or 0.05 points, to close at 33.47 points. A total of 57,400 shares changed hands at a value of VND173 million.

By Thuy Doan

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