Two trading floors perform contrarily

The Vietnam’s benchmark VN-Index recovered on July 7 thanks to support from some blue-chip stocks amid liquidity remained low.

The shares of 288 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange reversed 0.39 percent, or 1.69 points, to close at 429.99 points.

Of the index, 80 stocks advanced, 112 fell, while 101 remained unchanged.

Trading volume on the city bourse slightly rose over the previous trading session as 23.4 million shares changed hands at a value of VND463 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) took the spot of most active share in volume with 1.94 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, fell to the second rank with 1.06 million shares traded.

Bac Giang Exploitable Mineral Joint Stock Company (BGM) came next with 853,440 shares.

Viet Nam Land Investment Corporation (VNI) reclaimed 4.88 percent to close at VND8,600.

Construction Joint Stock Company No.5 (SC5) recovered 4.86 percent to VND19,400.

Masan Group (MSN) and Nui Nho Stone Corporation (NNC) both gained 4.66 percent to close at VND101,000 and VND29,200 respectively.

PetroVietNam IDICO Long Son Industrial Park Investment Joint Stock Company (PXL) plummeted 8.16 percent to VND4,500. The company will pay dividends for the year 2010 to its current shareholders in cash at a ratio of 4.5 percent on July 29.

Other losers on the southern trading floor included Thac Mo Hydro Power Joint Stock Company (TMP), Vinh Long Cereal and Food Corporation (VLF), and Chuong Duong Joint Stock Company (CDC).

Meanwhile, the Hanoi’s HNX-Index of the smaller in the north moved inversely, sinking 0.54 percent, or 0.4 points, to finish at 73.04 points. Trading on the northern market reduced by 25.64 percent in volume and 27 percent in value over the previous trading session as 16.72 million shares worth VND188.83 billion changed hands.

The UPCoM-Index of unlisted shares grew 0.17 points, or 0.52 percent, to 32.79 points. A total of 153,112 shares changed hands at a value of VND1.38 billion as of 2 pm local time.

By Gia Doan

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