Vietnam Stocks: Asia Commercial Bank, Danang Rubber, Phuoc Hoa
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 Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, slid 1.1 percent to 467.08, the biggest drop in two weeks.
Asia Commercial Bank (ACB) , fell 1.6 percent to 25,400 dong on the Hanoi Stock Exchange, the biggest decline in three weeks. Its local currency long-term deposit and issuer ratings were placed on review for a downgrade by Moody’s Investors Service.
Rubber Stocks: Phuoc Hoa Rubber Joint-Stock Co. (PHR) , the biggest listed rubber company, decreased 3.4 percent to 28,000 dong, the biggest loss since Feb. 28. Danang Rubber Joint-Stock Co. (DRC) slumped 4.9 percent to 38,700 dong, the biggest decline since June. Southern Rubber Industry Joint-Stock Co. (CSM) sank 4.9 percent to 19,300 dong, the largest drop since Nov. 14.
Rubber futures dropped in Tokyo as a surge in bad loans held by Spanish banks raised concern that Europe’s economic woes may worsen, weakening demand for the commodity used in tires.
To contact Bloomberg News staff for this story: Diep Ngoc Pham in Hanoi at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com
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