VN-Index hovers around 460 over thin trading volume

Share prices on Vietnam’s major stock market in Ho Chi Minh City remained unchanged on Thursday over thin trading.

The VN-Index hovered around the opening level of 446.79 in the first session before rising slightly in the next session on the back of many orders for small amounts of small caps, like DESCON Construction Corporation (DCC), Ha Nam Mineral (KSH) and Lu Gia Mechanical Electric Joint Stock Company (LGC).

But the index retreated in the last session, as investors were suddenly back into buying mood.

VN-Index eventually dropped for a third day, falling 0.1 percent to 446.40. Turnover was only 26.4 million, worth VND937 billion, as 60 stocks advanced, 79 declined, and 23 were unchanged.

Binh Thanh Import-Export Production & Trade (GIL) dropped 0.9 percent to VND22,400.

Phan Cong Truc, brother of Binh Thanh’s deputy chairwoman Phan Thi Ngoc Anh, plans to cut his entire stake of 125,418 shares in the company by September 24 to buy a house, Binh Thanh said in a statement to the exchange yesterday

Vietnam Dairy Products (VNM), the country’s fifth-biggest listed company, rose 4.1 percent to VND102,000, the highest since June 12.

Vinamilk, as the company is known, posted a pretax profit of VND1.15 trillion ($64.6 million) in the first half, according to a company statement on its website yesterday.

The producer of milk, yoghurt, ice cream and cheese reached about two-thirds of its full-year target, Hanoi-based Vinamilk said.

Hoa Sen Group (HSG), a steel and plastic building products maker, gained 2.8 percent, to VND33,200.

Hoa Sen expects net income of VND123.8 billion in the first six months, according to a company statement on the bourse’s website after the market closed yesterday.

The company, based in the southern province of Binh Duong, said its income in the second quarter rose nearly sevenfold from the first quarter, to VND108 billion on higher sales. It did not give a year-earlier first half comparison.

Kinh Bac City Development Share Holding Corp. (KBC), Vietnam’s biggest developer by market value, declined for a third day, falling one percent, to VND30,500 on the Hanoi Stock Exchange.

Hanoi-based Kinh Bac City will list about 65 million additional shares on July 13, according to a statement filed on the Hanoi exchange.

At the smaller exchange in Hanoi, the HNX-Index also edged down 0.88 points, 0.59 percent to end the day at 148.38.

By Thieu Gia

Other news