Thursday, June 21, 2007

Vietnam stock indexes continue dip

The country's stock indexes continued to record slight losses at both the Ho Chi Minh City’s bourse and its Ha Noi-based counterpart by the end of the June 21 morning trading session.

By closing, the VN-Index, which measures the value of the Ho Chi Minh City Securities Trading Centre, slumped by 10.85 points to finish at 1,034.43 points.

More than 5.68 million shares, worth over 540 billion VND, changed hand during the day. Sixteen stocks recorded gains, 13 showed no change and 78 fell.

Binh Minh Minerals (BMC) and Tay Ninh Cable Car Tour (TCT) still top the list of big gaining stocks that includes Song Da Urban and Industrial Zone Investment and Development (SJS), Lu Gia Mechanical and Engineering (LGC), and Electric Equipment and Installation Firm Full Power (FPC).

Meanwhile, blue-chips shares Tan Tao Industrial Zone Development Company (ITA), Binh Minh Plastics (BMP) and Corporation for Financing and Promoting Technology (FPT) continued to lose value.

At the Ha Noi Securities Trading Centre, the Ha-STC dropped by 7 points to finish at 302.9 points. More than 1 million shares were traded, worth 114.4 billion VND.

Saigon Securities (SSI), Asia Commercial Bank (ACB) and Military Petroleum Company (MBC) recorded the largest trading volumes.

Blue-chippers like Bao Minh Insurance (BMI), Bao Viet Securities (BVS), Asia Commercial Bank (ACB) and Saigon Securities (SSI) were among shares found to be in decline by the end of the day.

Nguyet Anh, an investor, said that information relating to taxes being imposed on stock transaction activities and tardy progress of rolling out initial public offerings (IPO) by many businesses have caused anxiety in the market.

Source: VNA

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