VN-Index closes week in low note

Vietnam’s benchmark VN-Index dropped for the third day on December 24 due to bad news and a lack of support from foreign investors as they stopped trading for the holidays.

Standard & Poor’s downgraded credit rating of Vietnam and some credit institutions in the country. Besides, the Vinashin’s debt of US$60 million had not been resolved.

The measure of 274 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange declined 0.56 percent, or 2.65 points, to close at 472.76 points.

On the index, 89 stocks raised, 120 fell, while 71 were unchanged.

Trading volume significantly reduced over the previous trading session. Around 55.81 million shares changed hands at a value of VND1.35 trillion.

Investment and Trading of Real Estate Joint Stock Company (ITC) topped the list of most active shares in volume with 2.55 million shares.

It was followed by Tan Tao Investment Industry Corporation (ITA) with 2.28 million shares traded.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) tagged along with 2.2 million shares.

Petroleum Industrial & Civil Construction Joint Stock Company (PXI) marched south for three straight trading sessions, slumping 11.18 percent to VND15,100. The company will pay dividends to its current shareholders at a ratio of 16 percent on January 10, 2011.

Sieu Thanh Joint Stock Corporation (ST8) shrank 5 percent to trade at VND22,800.

Imexpharm Pharmaceutical Joint Stock Company (IMP) contracted 4.8 percent to VND59,500.

Ben Tre Aquaproduct Import and Export Joint Stock Company (ABT) and Cadovimex Seafood Import-Export and Processing Joint Stock Company (CAD) both accelerated 5 percent to VND42,000, and VND8,400 respectively.

Long Hau Corporation (LHG) climbed the second day, escalating 4.95 percent to VND42,400.

House Viet Nam Joint Stock Company (NVN) strengthened 4.93 percent to VND21,300.

The smaller bourse in the north also wrapped week in red as the Hanoi’s HNX-Index tripped 0.03 percent, or 0.03 points, to close at 111.19 points. Trading volume sank by 24 percent in volume and 30 percent in value over the previous day as 30.9 million shares worth VND592.8 billion were traded.

Meanwhile, the UPCom-Index slightly reversed 0.09 points to 41.16 points this morning. A total of 150,000 shares changed hands at a value of VND1.9 billion as of 11:15 am local time.

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