News

Vietnamese stocks tumbled today on massive sell-off as investors feared further correction after the index posted strong gain year to-date and possible electricity price hike in sight.

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) forecasts that Vietnam can expand its economy by 5.8% this year, compared to the government’s target of 6.0-6.5%, the state-run online newspaper Vietnam Plus reported.

The UPCoM-Index, the measure of 130 unlisted public companies, bucked trend to close up for the second day on Friday, liquidity fell.

Foreigners changed to net buyers on HOSE but continued to be net sellers on HNX on Friday. Level of participation almost unchanged from yesterday.

Vietnamese stocks fell most in 1 month and a half as investors sold to lock in profit as the index at the 14 month high, liquidity was good as buying interest looked stable.

Ho Chi Minh city has granted new investment certificates for 113 foreign direct investment (FDI) projects worth $77.7 million in the first 4 months of this year, rising 5.6% year on year in quantity but falling 94% in value.

Nha Be Water Supply JSC (NBW) has authorized Deputy Director Pham Chi Thien as its investor relation officer, the firm said in a filing posted on the HNX’s website on May 9.

Construction Investment JSC. No. 5 (CI5) announced May 16 as ex-date and May 18 as record date for 2011 cash dividend payment.

Can Tho Tourist JSC. (DLC) announced May 11 as ex-date and May 15 as record date for 2011 second cash dividend payment.