VN-Index falls below 450 again

Movements of VN-Index on August 23. (Photo:
The shares on the Ho Chi Minh Stock Exchange returned to losing trend on August 23 after last weekend’s rally triggered investors’ wariness instead of their upbeat sentiment.

VN-Index, the benchmark of 253 companies and five mutual funds, sank 1.52 percent, or 6.92 points, to open week at 447.92.

Liquidity on the market dropped to the lowest level since the beginning of this year as just nearly 25 million shares changed hands, worth VND762.8 billion.

Among the index members, 34 advanced, 183 declined, while 41 remained unchanged.

Tan Tao Investment Industry Corporation (ITA) was the most active share by volume with 1.01 million shares changing hands. The company’s 127,827,773 shares, which were issued to pay dividends for the year 2009 and reward its current shareholders, were officially listed on the city bourse today.

It was followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 910,000 shares.

PetroVietNam Transportation Corporation (PVT) tagged along with 645,240 shares.

Most blue-chips tumbled. Decliners on southern market included Sao Mai Construction Corporation (ASM), Bao Minh Insurance Corporation (BMI), and Construction and Materials Trading Joint Stock Company (CNT).

Construction and Materials Trading Joint Stock Company (CNT) announced that it would issue 3 million shares to sell to its current shareholders at a ratio of 10:3, and a price of VND24,000 per share. After collecting VND72 billion, the company would distribute VND30 billion to the projects: Green Pearl in District 2, and My Phuc Apartment in District 8. The remaining would be added to the company’s working capital.

Ca Mau Trading Joint Stock Company (CMV) advanced for four consecutive days, gaining 4.91 percent to VND34,200.

Saigon Beverages Joint Stock Company (TRI) continued to rise for the sixth day. The company’s shares traded at VND8,800, up 4.76 percent.

Seafood producer NTACO Co. (ATA) added up 4.71 percent to VND26,700 from VND25,500.

The Hanoi’s HNX-Index plunged below resistance level of 130, adjusting 1.77 percent, or 2.32 points, to finish at 129.09. Trading volume also fell to six-month low as just 19.3 million shares changed hands at a value of VND470.78 billion.

The UPCoM-Index of unlisted shares slipped 0.03 points to 48.58 points. Around 2.44 billion were spent on 178,049 shares as of 11 am local time.

By Kha Lam

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