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Market hovers around 475 points
The Ho Chi Minh Stock Exchange swung between positive and negative territories before closing on a lower note on Friday.
The VN-Index, a measure of 162 companies, ended two days of gains, dropping slightly 0.9 percent to 475.22. Among the index members, 56 rose, 95 dropped and 11 remained unchanged.
Hang Xanh Motors Service Joint-Stock Co.(HAX), Vietnam’s exclusive dealer for Mercedes-Benz cars, fell 4.7 percent, the biggest drop since June 10, to VND51,000.
Pham Tuan Mai, a board member, sold 50,000 shares to reduce his holdings in the Ho Chi Minh City-based company to 177,212 shares, Hang Xanh said in a statement to the bourse’s website after the market closed yesterday.
Nguyen Hong Anh, another board member, trimmed his stake to 31,146 shares by selling 30,000 shares, said the statement.
Saigon Thuong Tin Commercial Joint-Stock Bank (STB), Vietnam’s third-largest listed company, slid 3.2 percent to VND36,800, the lowest since June 10.
Hoang Khanh Sinh, a deputy chief executive officer of the Ho Chi Minh City-based bank, will sell 260,000 shares, keeping a holding of 203,574, by September 22 for his personal needs, the lender said in a statement to the exchange after the market closed yesterday.
General Forwarding & Agency Joint-Stock Co. (GMD), Vietnam’s largest listed freight-forwarding company, slid 3.8 percent to VND51,000.
Pham Hong Hai, a board member, will sell 60,000 shares to cut his holdings in the Ho Chi Minh City-based company to 113,510 shares by December 12, Gemadept, as the company is also known, said in a statement to the exchange’s website after the market closed yesterday.
Le Ngoc Quang, another board member, plans to sell 48,000 shares to keep a stake of 100,000 shares, by December 12, the statement said.
The HaSTC-Index of the smaller bourse in Hanoi also fell slightly 0.68, 0.4 percent, to close at 167.86.
Phong Linh
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