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HCMC shares opens on seven month high
The Ho Chi Minh Stock Exchange opened higher on Monday, as investors were back into a buying mood after selling off last Friday to book profits.
The VN-Index advanced 10.98 points, 2.64 percent, to close at 426.43, a seven-month high. Among the index members, 157 rose, eight fell and five were unchanged. Eight have stopped trading for failing to meet bourse capital requirements.
Lam Son Sugar Joint-Stock Corp. (LSS) rose 4.98 percent to close at VND27,400. Vice chairman Bui Xuan Sinh will cut his stake from 0.11 percent to 0.08 percent by selling 10,000 shares, according to a statement on the exchange’s website. The sale starts today and will finish on September 30.
Alphanam Joint-Stock Co. (ALP) increased sharply by 4.86 percent to VND15,100.
The company said on the bourse’s website that deputy general director Do Thi Minh Anh, wife of chairman Nguyen Tuan Hai, boosted her holdings to more than 7.8 million shares by purchasing 1.744 million last month.
South Vietnam Container Shipping Joint-Stock Co. (VSG) moved up 2.17 percent to end at VND14,100. The container shipping company announced Le Ngoc Mai, wife of deputy chairman Nguyen Huu Chien, will sell her entire stake of 0.24 percent, equivalent to 26,410 shares today.
LICOGI 16 Joint-Stock Co. (LCG) edged up 0.64 percent to close at VND78,500. The construction firm said it sold all of 216,500 shares it had bought back earlier to “increase working capital.”
Minh Phu Seafood Joint-Stock Co. (MPC) jumped 4.7 percent to VND19,900, its highest level since September 9. Minh Phu has rallied 73 percent so far this year, outpacing the index’s 35 percent advance.
Vietnam Investment Fund, which currently holds five percent in the seafood processor based in the southernmost province of Ca Mau, will boost its holding to 6.4 percent by buying one million shares, Minh Phu said in a statement to the Exchange after the market closed last week.
The purchase starts today and will be completed by September 1, according to the statement.
Sea & Air Freight International Joint-Stock Co. (SFI), a forwarding agent, climbed VND5,000, 4.5 percent, to close at VND117,000, the highest since December 4, 2007.
The company won approval from Vietnam’s government to set up a joint-venture with China’s SITC Shipping Asia. The venture has an initial capital of about US$400,000, with Sea & Air holding 51 percent, the Ho Chi Minh City-based company said in a filing to the Ho Chi Minh City Stock Exchange.
The venture, which is scheduled to start operations this month, will offer forwarding logistics and shipping-agency services, it said.
At the smaller bourse in Hanoi, the HaSTC-Index also rose 5.43, 3.77 percent, to finish at 149.56.
Phuc Huy
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