Stocks rise during calm sentiment

The Ho Chi Minh Stock Exchange opened this week with a
fairly strong rally on Monday as investor confidence was calmly
restored after Friday’s rebound.

The VN-Index rose 5.94 points, 2.11 percent, to close at 287.57.

But trading volume was thin, with only 5.4 million
shares worth VND126 billion ($7.2 million). Turnover last week reached
an average of 6.4 million shares.

Of the index’s 176 members, 117 rose, 33 tread water and 26 fell.

Investors reacted positively with last Fridays’ 1.38
percent gain, but the thin turnover showed that they were afraid of a
heavy sell-off appearing after three days. Investors received their
shares in their accounts due to the T+3 standard, of which three days
are required for regular settlement of a stock transaction.

PetroVietnam Finance Joint-Stock Co. (PVF VN), a
subsidiary of Vietnam Oil & Gas Group and ten percent owned by
Morgan Stanley, rose VND500, 3 percent, to VND17,300 ($0.99). Chairman
Nguyen Dinh Lam registered to buy 20,000 shares, starting from today,
Dau Tu Chung Khoan magazine reported. The purchase will be completed by
March 9, it said, adding that Lam currently does not own any shares in
the company.

Minh Phu Seafood Joint-Stock Co. (MPC), which produces
and exports seafood, advanced VND400, 3.9 percent, to VND10,800. Chu
Thi Binh, deputy general director, raised her stake by 500,000 shares
to 16.9 million shares, Dau Tu Chung Khoan said today. Binh registered
to buy another one million shares, starting from February 10, the
magazine added.

620 Chau Thoi Concrete Corporation (BT6) jumped
VND3,000, 4.55 percent, to close at VND69,000. The cement manufacturer
informed the bourse that Ha Duc Binh, a director on the board, became a
shareholder by buying 1,300 shares last month.

An Pha S.G Petrol Joint Stock Company (ASP), a gas
supplier, remained unchanged at VND7,700. The firm said on the
exchange’s website that net profits in the last quarter of 2008 rose
sharply by 182 percent from the previous quarter to VND7.7 billion

Ben Tre Forestry and Aqua Product Import Export Joint
Stock Company (FBT) lost VND500, 2.7 percent, to close at VND18,000.
Phan Duy Lam, son of Chief Accountant Nguyen Thi Vui, sold his entire
holdings of 20,000 shares on February 4, according to a report on the
exchange’s website.

The smaller exchange in Hanoi also moved up on Monday, with the HaSTC-Index gaining 2.78 points, 3 percent, to close at 95.44.