|
City stocks retreat despite int’l gains
The Ho Chi Minh Stock Exchange lost ground on Monday in spite of a sharp rally on Asian markets.
The VN-Index of 176 leading companies and four closed-end funds fell for the third straight session, dropping 6.46 points, 2.42 percent, to close at 260.16.
Turnover amounted to 15 million shares worth VND300 billion ($1.72 million). Among the index members, 121 fell and 31 rose.
Asian stocks rose to a two-month high on Monday and high-yielding currencies advanced on the yen after details of a US plan to rid banks of up to $1 trillion in toxic assets bolstered confidence in risk taking, according to Reuters.
The Nikkei share average ended 3.4 percent higher, closing at its highest level since late January, getting the biggest boost from technology shares.
The MSCI index of Asia Pacific stocks outside Japan was up four percent, hitting a two-month high, supported mostly by the energy and financial sectors.
Hong Kong's Hang Seng index rose 3.4 percent, led by a 5.3 percent gain in China Construction Bank. Index heavyweight HSBC slipped 2.5 percent as its deeply discounted rights shares begin trading on Monday.
In Vietnam, Phu Nhuan Jewelry Joint-Stock Company (PNJ) became the 180th stocks listing on the main stock exchange in HCMC today. The jewelry maker rose 20 percent, the maximum trading limit of the day of listing, to close at VND45,600. It opened at the price of VND38,000.
Lam Dong Mineral and Building Material Joint-Stock Company (LBM) slipped 3.23 percent to VND12,000. Chairman Luong Hung Minh will sell 20,200 rights issues out of his 110,200 tomorrow, according to a statement on the exchange’s website.
His wife, Cao Thi Lanh, and vice chairman Pham Tuan Anh followed a similar pattern, selling 29,600 and 25,840 rights issues respectively tomorrow.
Hanoi-based property developer Vincom (VIC) slid 4.86 percent to VND33,300. The firm said on the exchange’s website that it bought back around 2.9 million shares out of more than four million it had registered, adding it has to focus its investment on main construction projects.
Viky Plastic Joint Stock Company (VKP) declined 3.51 percent to close VND5,500. Ly Le Hoa, wife of director Nguyen Huy Cao An, will cut her stake from 2.02 percent to 1.54 percent by selling 38,610 shares, according to the exchange’s website.
At the smaller bourse in Hanoi, the HaSTC-Index closed 2.43 points lower, 2.54 percent, at 93.14 points.
VietNamNet/SGGP
|
