Vietnam’s Stocks: Can Tho, Post & Telecommunications, Phu Nhuan
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, declined 0.5 percent to 479.67, paring its weekly advance to 1.5 percent.
Can Tho Techno-Agricultural Supplies Joint-Stock Co. (TSC VN), one of Vietnam’s biggest fertilizer importers, jumped 4.7 percent to 13,300 dong, gaining for the first time in more than a week. First-quarter profit increased 18 percent to 5.2 billion dong, according to the exchange’s website. It will also buy back 300,000 shares, the company said without giving a timeframe.
Post & Telecommunications Investment & Construction Joint- Stock Co. (PTC VN), a builder of roads, ports and telecommunications infrastructure, slid 4.4 percent, to 13,200 dong. The company had a net loss of 3.25 billion dong ($158,000) in the first quarter, according to a company filing on the exchange’s website. Sales dropped to 24.7 billion dong from 29.4 billion in a year earlier, according to the document.
Phu Nhuan Jewelry Joint-Stock Co. (PNJ VN), the only jewelry manufacturer on the exchange, fell 4.1 percent, the steepest loss since March 22, to 25,600 dong. Vietnam’s gold prices fell 300,000 dong to 37.37 million dong per tael yesterday as the value of the precious metal dropped globally, Tuoi Tre newspaper reported, without saying where it got the information. Stability in the foreign exchange market and reports of a possible ban on bullion trading also contributed to the decline in domestic gold prices, according to the report.
--Nguyen Dieu Tu Uyen. With assistance from Giang Nguyen. Editor: Shiyin Chen
To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.