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Trading surges on bank stock buys VNTimes

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On the Ho Chi Minh Stock Exchange, the VN-Index finished on May 31 down 0.59 percent at 518.39 points.

Although it reached 525 points during the session, the highest it hasbeen in three years, profit-taking stopped buyers from lifting theindex.


Trading value hit a record high of 2.5 trillion VND (119 million USD), while volume fetched more than 150 million shares.


The surge in value was partially due to trading on Sacombank (STB).More than 47.8 million STB shares, or 4.38 percent of the total, changedhands on May 31 at 18,200 VND.


The VN30, tracking the southern bourse's top 30 shares, shed 0.47 percent to finish at 581.95 points.


The top losers were property developer Vingroup (VIC), down 4.9percent; Refrigeration Electric Engineering (REE), down 3.5 percent; DaNang Rubber (DRC), down 3 percent; and insurer Bao Viet (BVH), down 2.8percent.


On the Hanoi Stock Exchange, the HNX-Index also lost 0.8 percent to close at 64.62 points.


Nearly 71.5 million shares were exchanged at a value of around 572 billion VND (27.1 million USD).


Blue chips in Hanoi drove the HNX30 down over 1.7 percent to 125.51 points.


Foreign investors finished as net sellers, unloading a combined margin of 43.9 billion VND (2 million USD) on both bourses.-VNA









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