Vietnam Stocks: Asia Commercial, Vietnam Sea Transport, Vinacafe
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, rose 1 percent to 461.68.
Asia Commercial Bank (ACB VN), increased 0.9 percent to 21,700 dong, its biggest gain since Sept. 7, on the Hanoi bourse. Its assets will probably more than triple by 2015, making it the first non-government lender to overtake one of Vietnam’s four biggest banks, Chief Executive Ly Xuan Hai said in an interview in his Ho Chi Minh City office on Sept. 16. Assets of ACB, as the bank is also known, are expected to climb to 900 trillion dong ($43 billion) by 2015 from about 255 trillion dong currently, Hai said.
Vietnam Sea Transport & Chartering Joint-Stock Co. (VST VN), a shipping service provider, advanced 3.5 percent to 5,900 dong. Truong Dinh Son, the Ho Chi Minh City-based company’s general director, will raise his stake to 3.5 percent from 2.7 percent from Sept. 21 to Nov. 21, according to an exchange filing.
Vinacafe Bien Hoa Joint-Stock Co. (VCF VN) a unit of Vietnam’s second-biggest coffee exporter, dropped 2.6 percent to 95,500 dong. The country’s coffee exports in August fell 32 percent from July to 36,100 tons, according to an online report posted on the General Customs’ website on Sept. 16.
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