The VN-Index edged down by another 0.27 percent to close at 480.55 points on Jan. 10, with a new survey showing business confidence sliding in the last quarter of 2010.

Vietnam WVB Financial Intelligence Services and PetroVietnam Finance Investment and Consultancy Co's Business Confidence Index (BCI) was announced to have dropped 11 points from the previous quarter.

The survey looked at the country's leading enterprises in total assets, revenue, and number of employees across various industries, drawing the participation of 233 companies across 11 industries and sectors. The index was based on six components, including current economic conditions, economic outlook, expected change in employment, planned fix investment, and expected revenue and profit growth.

"Most participants believed that the increase in the prime interested rate to 9 percent – one of the measures taken by the State Bank of Vietnam as part of overall tightening of monetary policy – would help curb inflation in the short- and medium-term," said a report accompanying the survey results.

But 41 percent of respondents thought that a shrinking money supply could affect the gold and stock markets.

On the HCM Stock Exchange on Jan. 10, trades totalled 790.4 billion VND (37.6 million USD) on a volume of 33.8 million shares, figures comparable to the previous session’s levels.

Advancers outnumbered decliners by 195-50, with Sacombank (STB) achieving the status of most-active share with 2.3 million traded.

The HCM exchange welcome its 305th listing on Jan. 10, with Truong Long Engineering and Auto Joint Stock Co (HTL). The company posted a profit of almost 27 billion VND (1.29 million USD) in 2010, a result projected to rise to 44 billion VND this year. HTL paid a 20-percent dividend on last year's profits and is aiming for a 25-percent in 2011. On their opening day of trading, HTL shares closed at 23,500 VND (1.1 USD).

On the Hanoi Stock Exchange, the HN-Index finished the session down 2.37 percent to 107.47 points. The volume of trades reached 31.4 million shares, worth 592.5 billion VND (28.2 million USD), slightly higher than the previous session’s totals. The number of declining shares rose to 237, while only 50 shares posted gains.

Kim Long Securities (KLS) was the most-active share on the northern market, with 2.8 million changing hands./.