Index slumps as investors dabble in penny stocks

Hanoi (VNA) - The VN-Index continued slumping again on Jan. 13, closing down 1.62 percent to 307.13, with most activities again centred on small caps like Ha Nam Mineral (KSH), Chau Thoi Concrete No 6 (BT6) and Saigon Fishing Net (SFN).

Rumours circulated again in the mass media in recent days that the Government may
delay the implementation of the income tax had little noticeable effect on the
market, with an anonymous analyst saying most investors were taking a wait-and-see
attitude.

The Ho Chi Minh Stock Exchange did see a slightly improved volume on Jan. 13, with
7.67 million shares changing hands, worth 174.9 billion VND (about 10 million USD).

Most-active share Sacombank (STB) recorded a modest volume of 686,040 shares,
closely followed by Saigon Securities Inc (SSI) with 605,330 shares.

The most-watched factor, overseas investors, again became net sellers, although just
barely: they sold 1.47 million shares while buying 1.43 million.

In Hanoi on Jan. 13, the HASTC-Index also slipped 1.40 percent to close at
104.23, on a moderate volume of 3.85 million shares, worth just 84.23 billion VND
(4.8 million USD).-