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Thursday, June 13, 2024

HOSE crosses off SGT from list of stocks ineligible for margin trading

The Saigon Times

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HCMC – The Hochiminh Stock Exchange, or HOSE, has announced that SGT shares of Sai Gon Telecommunication & Technologies Corporation have been removed from the list of stocks ineligible for margin trading.

HOSE said the stock had done what it is required by law.

SGT was placed in the southern bourse’s warning list in early last November due to four violations of information disclosure rules over a period of one year.

This year, the company looks to obtain VND2,750 billion in revenue and VND412 billion in profit before tax, rocketing 89.1% and 282.9% over 2022.

However, the firm’s first-quarter revenue and net profit plunged sharply by 77.3% and 97.5% year-on-year, at around VND93.4 billion and VND5.6 billion, respectively.

Its profit margin contracted to 44.9% from 58.4%.

SGT closed the trading session today, May 16, down 1.72% from Monday to VND11,450 per share, with a matching volume of 28,700.

With 169 advancers and 200 decliners, the VN-Index moved sideways, gaining a fractional 0.02%, or 0.2 points, compared with the previous day at 1,065.91 points.

Trading on the southern bourse slumped 18% in volume and 17% in value to 681.3 million shares and nearly VND11.3 trillion, including 89.2 million shares valued at over VND1.6 trillion traded in block deals.

Mid-cap stock VIX shot up to its daily upper limit at the close, at VND10,300 per share, and took the lead by liquidity with 23.5 million shares changing hands.

On the northern bourse, the HNX-Index moved sideways above the level of 214 points. It stayed at 214.62 points, adding 0.28 points or 0.13% at the close, with 87 stocks rising and 58 others declining.

There were more than 93.2 million shares worth VND1.4 trillion changing hands on the Hanoi Exchange.

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