Most blue chips end at floor prices (23/8)

[imported_dumy8486]

Ho Chi Minh City Stock Exchange on August 22 allowed Saigon Infrastructure Real Estate Investment JSC (SSI) to list 40 million shares, worth VND400 billion on the city bourse.

Alphanam Investment Joint Stock Company (ALP), Bac Giang Exploitable Mineral Joint Stock Company (BGM), and Vietnam Fumigation Joint Stock Company (VFG) were warned for frequently violating information disclosure regulations.

Nguyen Van Son, director of Petro Vietnam Low Pressure Gas Distribution Joint Stock Company (PGD), registered to sell 5,000 shares from August 24 to September 24 for personal financial need. After the share sale, his holdings will be reduced to 44,724 shares from 49,724 units or 0.099 percent stake currently.

From August 25 to September 24, Nguyen Cong Minh, head of the Board of Supervisor of IDICO Infrastructure Development Investment Joint Stock Company (HTI), registered to buy 100,000 shares, to increase his ownership to 258,680 shares.

Tran Thi Phuong Anh, daughter of Tran Viet Binh, deputy CEO of Petrolimex International Trading Joint Stock Company (PIT), sold 2 shares out of 1,722 shares registered to sell from July 16 to August 16 due to unmatched prices.

Nguyen Van Hung, brother of Nguyen Ba Duong, chairman cum CEO of Cotec Construction Joint Stock Company (CTD), reported his trading result on August 21, later than regulated due to his business trip. He sold 2,740 shares out of 45,916 shares registered to sell from May 10 to June 10 for his personal affairs.

From August 27 to September 26, Nguyen Thi Sinh, wife of Pham Ngoc Phu, BOD member of Da Nang Rubber Joint Stock Company (DRC), registered to sell all her 1,000 shares for family affairs.

SSI Vision Fund, a major shareholder of OPC Pharmaceutical Joint Stock Company (OPC) sold 134,500 shares from May 22 to August 21, cutting its ownership to 852,600 shares, or 6.94 percent stake.

Ho Chi Minh City Finance and Investment State-owned Company, a major shareholder of Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), bought 2,178,950 shares out of 2.78 million shares from July 20 to August 20 due to unmatched prices, raising its holdings to 14,450,825 shares.

Nguyen Doan Thang, vice chairman cum CEO of Rang Dong Light Source & Vacuum Flask Joint Stock Company (RAL), registered to buy 30,000 shares from August 27 to September 27. After the share purchase, he aims to raise his holdings to 161,439 shares from 131,439 units currently.

Vietnam Debt Fund SPC, whose director is Dominic Scriven, BOD member of Refrigeration Electrical Engineering Corporation (REE), registered to sell all its 1,085,760 shares or 0.45 percent stake from August 27 to September 27 to restructure its investment portfolio.

Hoang Thi Ngoc Lan, BOD member cum deputy CEO cum IR officer of Duyen Hai Multimodal Transport Joint Stock Company (TCO), registered to buy 30,000 shares from August 27 to September 25, aiming to raise her holdings to 51,500 shares or 0.4 percent stake, from 21,500 units or 0.17 percent stake currently.

Tran Thi Hanh, sister of Tran Minh Loan, chairman of An Pha Petroleum Group Joint Stock Company (ASP), reported her trading results on August 16, later than regulated.

Bitexco Nam Long JSC, a major shareholder of Ca Mau Frozen Seafood Processing Import Export Corporation (CMX), sold all its 3,173,116 shares or 24 percent stake from August 10 to 17 to restructure its investment portfolio.

Tran Tuan Duong, vice chairman cum CEO of Hoa Phat Group Joint Stock Company (HPG), bought 160,000 shares as registered from August 20 to 22 of which 30,000 shares were bought from Nguyen Thi Thao Nguyen, deputy CEO of the company. After the share purchase, Duong raised his holdings to 9.4 million shares or 2.69 percent stake from 9.24 million shares or 2.65 percent stake earlier.

Phan Hoang Tuan was no longer a major shareholder of Urban Development and Construction Corporation (UDC) after selling 140,000 shares on August 20 this year for personal finance, cutting his ownership to 1,621,940 shares or 4.65 percent stake, from 1,761,940 shares or 5.05 percent stake earlier.

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[kuwaitiaddicted]

The VN-Index moved down 4 per cent to 393.57 points on the HCM City Stock Exchange as 90 per cent of the city's listed stocks lost value for the third day this week.

The value of trades reached only 68 per cent of yesterday morning's level, totaling VND552.65 billion (US$26.3 million) from 31.7 million shares.

The VN30, representing the southern bourse's top shares, also tumbled 4.2 per cent. The index reached 465.83 points, as all 30 shares failed to make gains, 25 of which closed this morning at floor prices.

On the Ha Noi Stock Exchange, the HNX-Index fell 5.55 per cent, standing at just 61.06 per cent. Blue chips sent the HNX30 down 4.15 per cent to 121.73 points.
Nearly 28.5 million shares worth an overall value of VND261.9 billion ($12.4 million) changed hands.

Kim Long Securities Co (KLS), which bottomed out during this morning's session, was the most heavily traded stock with 3.26 million shares.

The afternoon session will begin at 1pm.

[thanhnguyen1910]

Shares suffered heavy losses for the third day this week, following
the arrest of a banking tycoon earlier this week and speculation of more arrests to come.
"Observing market movements, I see the panic is not limited to small investors alone," said individual investor Nguyen Anh Tuan. "Sell orders with a large amount of shares were also set."

On the HCM City Stock Exchange, the VN-Index moved down 4.24 per cent to 392.82 points. Nearly 90 per cent of the city's listed stocks lost value.

The value of trades reached only 68 per cent of the previous day's level, totalling VND679.5 billion (US$32.3 million) on a volume of 38.8 million shares.

The VN30, representing the southern bourse's top shares, also tumbled 4.4 per cent. The index reached 464.83 points, as all of the 30 shares failed to make gains, 28 of which closed yesterday at floor prices.

On the Ha Noi Stock Exchange, the HNX-Index fell 5.3 per cent, standing at just 61.23 per cent. Blue chips sent the HNX30 down 6.3 per cent to 114.04 points.
Around 34.9 million shares worth an overall value of VND322.1 billion ($15.3 million) changed hands.

Prior to Tuesday's session, when the market was rattled by the detention of a finance tycoon on fraud charges, the two benchmark indices had just overcome their resistance levels.
Meanwhile, foreign investors were still active in buying, said VietCapital Securities Co analyst Nguyen The Minh.

On Tuesday, foreign investors were buyers by a margin of VND132 billion ($6.2 million), favouring such blue chips as Phu My Fertiliser (DPM), PetroVietnam Gas Co (Gas), Military Bank (MBB) and Vietcombank (VCB). The trend continued during the next day.

"Investors have got over panicking as they put sell pressure on almost all stocks," commented Military Bank Securities Co analyst Hoang Cong Tuan.

The current problem of the market, according to Tuan, was that investors did not know just what impact the arrest would have. "They are being misled by rumours," he added.

Facing this hefty fall, the State Securities Commission yesterday advised investors to calm down. "Investors should avoid being affected by unverified information from speculators who want to manipulate share prices," the commission said.

It recommended investors watch for official announcements from authorities, including the State Bank of Viet Nam, the commission and stock exchanges.

In addition, the commission is reinforcing the supervision of manipulation and raising penalties.

Meanwhile, Tuan predicted stocks would further decline during the next few sessions.
"Shares with a good foundation will soon recover, while bad performers will continue to face selling pressure," he said.