Erratic trading on the HCM Stock Exchange sees the VN-Index rising and falling

Hanoi(VNA)- Erratic trading on the HCM Stock Exchange saw the VN-Index rising and
falling throughout the session before closing down 1.66 percent to 457.42 points on
Dec. 2.

About 66 million shares changed hands with a total value of 1.38 trillion VND (69
million USD)

After a slow start, over 100 codes closed at their ceiling prices, with blue-chips
such as Gemadept (GMD) and Sai Gon Securities Inc (SSI) first to peak.

This fuelled further growth in Refrigeration Electrical Engineering (REE), Tan
Tao Industrial and Investment (ITA), Licogi (LCG), Sao Vang Rubber (SRC), Song Da
Urban and Industrial Zone Investment and Development Co (SJS) and a series of penny
stocks.

Despite the unpredictable situation in HCM City , shares rose strongly on the
Hanoi Stock Exchange, where the HNX-Index finished the session up 4.9 percent to
111.93 points. Trading volume remained high at 68 million shares, with a value of
1.32 trillion VND ( 67 million USD) , nearly equal to the mark set by the HCM
City market.

Ngo Van Minh, director of analysis for the Sai Gon-Hanoi Fund Management Co, said
the stock market was gaining despite doubts about inflation, interest rates and
other economic factors.

“In addition, the EU debt crisis and stress between the DPR of Korea and the
Republic of Korea may seem far removed from us, but they have the capacity to
impact upon the local market,” Minh said.

Notably, all shares in the securities sector on both bourses hit their ceiling
prices on the day, including SSI and HCM City Securities Co (HCM) in HCM City ,
and Kim Long Securities Co (KLS) and Hai Phong Securities Co (HPC) in Hanoi .

Trading in Vien Dong Pharmaceuticals was officially taken under control by the
State Securities Commission on Dec. 3 and only permitted in the final 15 minutes of
the session on the day, as its former chairman, Le Van Dung, remains in temporary
detention on charges of attempting to manipulate share prices.-Enditem