VN-Index continues upward march

The Ho Chi Minh Stock Exchange moved up for the second straight day on Tuesday, with the VN-Index reaching its highest level since October 6.

The index, the gauge of 181 leading shares, rose slightly 0.8 percent to close at 425.03.

Turnover amounted to 52 million shares worth VND1.66 trillion (US$93.3 million). Of its members, 93 gained, 70 fell and 16 were unchanged.

Vietnam Electricity Construction Joint-Stock Co. (VNE), a power-plant builder, climbed 4.5 percent, to VND11,700, its highest since October 6.

Vietnam Electricity will sell its Green Plaza Hotel in Da Nang to Thien Thanh Production, Trading & Construction Ltd. for VND389 billion and post a one-time gain of VND105 billion ($5.9 million) by the end of June, the company said in a statement to the exchange today.

Hang Xanh Motor Service Joint-Stock Co. (HAX), Vietnam’s first Daimler AG’s Mercedes-Benz cars dealership, slid 4.5 percent, to VND29,700.

An Phuc Securities sold 72,750 shares to reduce its stake in the luxury-car dealer to
10.89 percent, 471,851 shares, from 12.57 percent, said a separate company statement to the bourse after the market closed yesterday. Neither statement gave reasons for the share sale.

Transforwarding Warehousing Joint-Stock Corp. (TMS) increased 1.25 percent to close at VND32,500.

The HCMC exchange announced on its website that it approved the firm to list more than 1.6 million right issues, which are offered for existing shareholders.

Long An Food Processing Export Joint-Stock Co. (LAF) rose 4.35 percent to VND14,400. Nguyen Van Phung, husband of supervisory board head Ho Thi Kim Hoang, became one of the firm’s shareholders by buying 15,000 shares.

FPT Corp. (FPT) edged up 0.75 percent to close at VND67,000. The Hanoi-based software developer announced that it will pay ten percent dividend and go ex-dividend on June 4.

The Hanoi exchange’s HaSTC-Index also made a minor rally, rising 1.04 percent to 150.18.

Reported by Dong Hoai

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