VN-Index falls to 30-month low

Vietnam’s benchmark VN-Index sank to a 30-month low on November 18 as investors continued to sell off shares on speculation of further decline.

The index of 300 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange plummeted 1.62 percent, or 6.24 points, to close at 379.62 points. This week, the gauge lost 4.2 percent, adding this year’s loss to nearly 22 percent.

On the benchmark, 49 stocks climbed, 175 retreated, while 81 stocks remained unchanged.

Trading volume on the city bourse was a little changed over the previous day as around 34.4 million shares changed hands at a total value of VND542 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) led the list of most active shares in volume for three straight days with 2.54 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) remained at the second rank with 1.46 million shares traded.

Hung Vuong Joint Stock Corporation (HVG) finished third with 1.14 million shares.

Hamico Mineral Group (KSH) tumbled 14.74 percent to close at VND16,200. The company will pay dividends for the year 2010 to its current shareholders in cash at a ratio of 20 percent on December 8.

Viky Plastic Joint Stock Company (VKP) destroyed 10 percent to close at VND900.

Gia Lai Sugar - Thermal Power Joint Stock Company (SEC), Tay Ninh Rubber Joint Stock Company (TRC), and South Vietnam Container Shipping Joint Stock Company (VSG) all tripped 5 percent to close at VND17,100, VND34,200, and VND1,900 respectively.

Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT) declined for three-straight days, losing 4.92 percent to close at VND5,800.

Basa Joint Stock Company (BAS) escalated for three consecutive days, accelerating 7.14 percent to finish at VND1,500.

Hanoi Maritime Holding Company (MHC), and Nam Kim Steel Joint Stock Company (NKG) both surged 5 percent to VND2,100, and VND14,700 respectively.

South Logistics Joint Stock Company (STG) mounted 4.81 percent to close at VND21,800.

The Hanoi’s HNX-Index of the smaller bourse in the north pared 1.11 percent, or 0.7 points, to close at 62.18 points. Trading volume slightly rose over the previous day as 25 million shares changed hands at a value of VND227.8 billion.

Meanwhile, the UPCoM-Index of unlisted shares collapsed 1.54 percent, or 0.45 points, to 28.79 points at 2 pm Vietnamese time. A total of 167,600 shares changed hands at a value of VND932 million.

By Thuy Doan

Other news