VN-Index nearly unchanged

Vietnam’s benchmark VN-Index finished almost flat Friday adding 0.03 percent.

The index which tracks 187 companies and four closed-end funds on the Ho Chi Minh City Stock Exchange, gained 0.16 points to close at 494.96. Trade volume plunged to 34.84 million shares, worth VND1.47 trillion (US$80.4 million).

After the bell, there were 76 advancers on the index while 78 dropped and 37 were unchanged.

Sai Gon Garment Manufacturing Trade Co. (GMC) was the biggest winner on December 4 gaining the maximum 5 percent allowed to VND27,300.

The HCM City-based Thanh Cong Textile Garment Joint Stock Co. (TCM) also won 5 percent to VND18,900, followed by Sao Vang Rubber Joint Stock Co. in Hanoi, which closed up 4.92 percent at VND64,000.

Thanh Cong Company was also among the top most active shares in volume having 1.68 million shares traded.

It was ranked third on the city bourse after Saigon Commercial Bank or Sacombank (STB), which saw 3.14 million shares change hands at 1.19 percent down or VND25,000, and the unchanged Vietnam Export Import Bank or Eximbank (EIB) with nearly 1.84 million shares traded.

Binh Chanh Construction Investment Shareholding Co. (BCI), a real estate developer, recovered from its three-month low gaining 2.68 percent to VND57,500. Vice General Director Truong My Linh plans to cut her holding in the company to 4,200 shares from 19,200 shares, according to a statement on the exchange’s website. The sale starts December 8 and will wrap up by March 30.

Hoa Phat Group Joint Stock Co. (HPG), Vietnam’s biggest listed steel producer, fell 0.81 percent to VND61,500. VOF Investment Ltd. cut its stake in the company to 4.97 percent from 5.8 percent by selling 1.63 million shares, the company said on the website Thursday.

Licogi 16 Joint Stock Co. (LCG), a city-based builder and property developer, gained 0.68 percent to VND74,500. Vietnam’s largest brokerage Saigon Securities Inc. cut its stake in the company to 4.3 percent from 6.1 percent, according to a statement on the website Thursday. Saigon Securities now has 1.1 million Licogi 16 shares.

Hanoi’s HNX-Index also added little, finishing up 0.26 percent, or 0.42 points, at 159.39. Nearly 13 million shares were traded at VND442 billion.

The UP-CoM Index gave up 1.04 percent to 58.91. A total of VND719.35 million was spent trading 54.810 shares.

US stocks fell sharply as trading wound down Thursday, with traders worried about the next session’s release of the monthly jobs report. The Dow Jones Industrial Average fell 101 points to 10,351 while the S&P 500 was off 10 points at 1,099.

By Thieu Gia

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