Vietnam Stocks: Phuoc Hoa Rubber, PetroVietnam Drilling, PVI

18-May-2012 Intellasia | Bloomberg | 7:01 AM Print This Post

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 2:15 p.m. close in HCM City. The VN Index (VNINDEX), the benchmark measure of the HCM City Stock Exchange, fell 1.3 percent to 449.91, the lowest close since April 6.

Rubber Stocks: Phuoc Hoa Rubber Joint-Stock Co. (PHR), the country’s biggest listed rubber company by market value, fell 1.9 percent to 31,800 dong. Saovang Rubber Joint-Stock Co. (SRC) slumped 4.9 percent to 19,400 dong. Southern Rubber Industry Joint-Stock Co. (CSM VN) plunged by the daily limit of 5 percent to 26,600 dong.

October-delivery rubber fell 1.9 percent to end at 265.1 yen a kilogram ($3,298 a metric tonne) in Tokyo, the lowest settlement level since December 30.

PetroVietnam Drilling & Well Services Joint-Stock Co. (PVD) decreased 1.1 percent to 37,800 dong, a two-month low. Crude oil for June delivery slid as much as 2.3 percent to $91.81 a barrel in electronic trading in New York.

PVI Holdings (PVI), Vietnam’s second-largest publicly traded insurer, snapped a five-day drop, rising 2.7 percent to 18,800 dong. It plans to sell another 6 percent stake to Germany’s Talanx AG by the end of the month, Chair Nguyen Anh Tuan said in a telephone interview yesterday. Talanx bought 25 percent of Hanoi-based PVI in August for 1.9 trillion dong ($91 million).


Category: Stocks

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