VN-Index plunges on Japan’s woes

Vietnam’s benchmark VN-Index tumbled with the steepest pace in three weeks on March 14 as investors were pessimistic amid the worst devastating natural disaster in Japan.

The gauge of 281 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange nosedived 3.06 percent, or 15.16 points, to close at 479.9 points.

Among the index members, 27 gained, 221 slumped, while 38 remained unchanged.

Trading on the southern trading floor slightly improved over the previous trading session as 45.6 million shares changed hands at a value of VND932 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share in volume with 6.84 million shares changing hands.

It was followed by Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) with 2.14 million shares.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) got the third rank with 1.55 million shares changing hands.

HAI Agrochem Joint Stock Company (HAI) slashed 16.67 percent to VND29,500. The company will pay dividends for the second term of the year 2010 in cash to its current shareholders at a ratio of 10 percent on April 6. It also will issue 2,899,999 shares to reward its current shareholders at a ratio of 5:1.

Lilama 10 Joint Stock Company (L10) dropped 824 percent to VND15,600.

Other losers on the city bourse included IDICO Infrastructure Development Investment Joint Stock Company (HTI), Song Da Urban & Industrial Zone Investment & Development Joint Stock Company (SJS), and Cuu Long Petro Urban Development & Investment Corporation (CCL).

Hamico Mineral Group (KSH) was the biggest gainers, strengthening 5 percent to VND31,500.

Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) rebounded 4.84 percent to VND13,000.

Interfood Shareholding Company (IFS) rallied 4.67 percent to VND15,700.

The smaller in the north also opened week on low note as the Hanoi’s HNX-Index sank 3.09 percent, or 2.93 points, to close at 91.92 points. Trading volume doubled that of the previous trading session as 49.6 million shares worth VND749 billion changed hands.

Meanwhile, the UPCom-Index of unlisted shares market contracted 0.83 points to 38.21 points this morning. A total of 322,700 shares changed hands at a value of VND4 billion as of 11:20 am local time.

By Ngoc Thien

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