Vietnam’s Stocks: Masan Group, Ocean Group, Tay Ninh Rubber
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.
The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 0.8 percent to 461.86.
Masan Group Corp. (MSN) , a group with businesses including financial services, consumer staples and natural resources, rose for a fifth day, jumping 4.9 percent to 108,000 dong, a record high. The Ho Chi Minh City-based company said its so-called pro forma profit may rise by 31 percent to 64 percent in 2011 to a range of 2.4 trillion dong ($116 million) to 3.1 trillion dong, according to a statement on its website.
Ocean Group Joint-Stock Co. (OGC VN), a real-estate and financial company, dropped 1.6 percent to 18,100 dong. The Hanoi-based company cut its 2011 pretax profit forecast by 18 percent to 825 billion dong, according to a statement on its website.
Tay Ninh Rubber Joint-Stock Co. (TRC VN), the third-biggest listed rubber producer, slid by the daily limit of 5 percent to 46,100 dong, the lowest close since July 17, 2009. Rubber slumped to a one-month low amid speculation China may increase interest rates to curb inflation and economic growth, and as reduced production by Japanese automakers raised concern demand for tires may weaken.
To contact the Bloomberg News staff on this story: Diep Ngoc Pham in Hanoi at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org