VN-Index posts worst weekly decline in 2012

Vietnam’s benchmark VN-Index fell the eighth trading sessions, setting the worst weekly performance this year on May 18 as investors continued to sell off shares heavily to flee from the market.

The index of 303 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange slumped 1.72 per cent, or 7.63 points, to close at 434.95 points, the lowest since March 15, with 34 winners, 240 losers, and 34 stocks remaining unchanged.

This week, the gauge lost 9.4 per cent.

Trading on the city bourse rose by 3 per cent in volume, and 6.6 per cent in value over the previous trading session as more than 80.35 million shares changed hands at a total value of VND1.22 trillion.

Saigon Securities Inc. (SSI) led the list of most active shares in volume with 3.44 million shares changing hands.

Vietnam Export Import Commercial Joint Stock Bank or Eximbank (EIB) was at the second place with 3.34 million shares.

Licogi 16 Joint Stock Company (LCG) finished third with 2.83 million shares traded.

Thac Ba Hydropower Joint Stock Company (TBC) drained 11.54 per cent to close at VND11,500. The company will pay dividends to its current shareholders in cash at a ratio of 9.5 per cent since June 14.

Vietnam – Italy Steel Joint Stock Company (VIS) shooed 10.32 per cent to close at VND13,900. The company will pay dividends to its current shareholders in cash at a ratio of 10 per cent on June 7.

Other losers included BenThanh Rubber Joint Stock Company (BRC), Dong Thap Trading Corporation (FDG), Construction & Materials Trading Joint Stock Company (CNT), and Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC).

An Pha Petrol Joint Stock Company (ASP) mounted 5 per cent to close at VND6,300.

Tuong An Vegetable Oil Joint Stock Company (TAC) rallied 4.85 per cent to close at VND49,700.

Godaco Seafood Joint Stock Company (AGD) surged 4.81 per cent to end at VND47,900.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – tumbled 8.85 points, or 1.72 per cent, to end at 504.61. Among its 30 members, only 1 stock gained, 28 lost, and 1 closed unmoved.

The Hanoi’s HNX-Index of the smaller bourse in the north dispelled 3.07 per cent, or 2.34 points, to close at 73.81 points with 50 gainers, 251 losers, and 37 stocks treading water. Around 74.32 million shares changed hands at a total value of VND706.9 billion.

Meanwhile, the UPCoM-Index of unlisted shares shot up 0.95 per cent, or 0.34 points, to close at 35.95 points. A total of 193,150 shares changed hands at VND1.16 billion.

Related links : Real-time Boards: HOSE and HNX

By Thuy Doan

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