VN-Index drops second day on rising rate

Vietnam’s benchmark VN-Index sank the second day on April 4 as investors remained doubtful of the market’s recovery after the central bank raised interest rates last week in an effort to ease inflation.

The measure of 283 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange contracted 0.42 percent, or 1.92 points, to close at 457.25 points.

Of the index, 63 stocks increased, 154 declined, while 71 remained unchanged.

Trading on the city bourse lightly improved over the previous trading session as 24.64 million shares changed hands at a value of VND524 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share in volume with 1.44 million shares changing hands. It was the only company whose trading volume was above 1 million shares today.

Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) followed with 643,310 shares.

Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) came next with 578,490 shares.

House Vietnam Joint Stock Company (NVN) plunged 5.6 percent to close at VND21,900. The company will pay dividends to its current shareholders for the year 2010 in cash at a ratio of 20 percent since April 25.

Mien Dong Joint Stock Company (MDG) capped its three-day rising streak, paring 4.9 percent to VND13,600.

Seaprodex Refrigeration Industry Corporation (SRF) dropped 4.8 percent to VND23,800.

Viet Nhat Seafood Corporation (VNH) recovered 5 percent to close at VND6,300 respectively.

Electronics Communications Technology Investment Development Corporation (ELC) reversed 4.97 percent to VND35,900.

Dat Xanh Real Estate Service & Construction Corporation (DXG) restored 4.59 percent to VND22,800.

The smaller in the north fell for five consecutive trading sessions as the Hanoi’s HNX-Index plummeted 1.04 percent, or 0.95 points, to close at 90.1 points. Trading volume slightly fell over the previous trading session as just 20.4 million shares worth VND311.83 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares added up 0.09 points to 37.2 points this morning. A total of 148,065 shares changed hands at a value of VND1.53 billion before lunchtime.

By Da Nguyet

Other news