Vietnam Stocks: Vietcombank, VietinBank, OPC Pharmaceutical

25-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 11:30 a.m. break in HCM City.

The VN Index (VNINDEX), the benchmark measure of the HCM City Stock Exchange, fell 1.7 percent to 440.18, heading for the biggest decline since May 15.

Banking stocks: The World Bank said in a report released today that unresolved problems in Vietnam’s banking industry are a “source of concern,” with interbank exposures indicating “potential for systemic risks.”

Joint-Stock Commercial Bank for Foreign Trade of Vietnam (VCB VN), the country’s second-biggest listed lender by market value, dropped 3.4 percent to 30,900 dong, bound for the lowest close since April 12. Vietnam Joint-Stock Commercial Bank for Industry and Trade (CTG VN), or VietinBank, fell 1.4 percent to 21,100 dong, heading for the lowest close since March 29. Military Commercial Joint-Stock Bank (MBB) slid 1.4 percent to 14,500, poised for the lowest close since May 18.

OPC Pharmaceutical Joint-Stock Co. (OPC), a manufacturer and trader of herbal medicines, fell 1.5 percent to 33,200 dong, heading for the lowest close since April 4.

SSI Vision Fund cut its stake in the company to 8 percent from 10 percent, OPC Pharmaceutical said in a statement filed on the bourse’s website.


Category: Stocks

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