Vietnam Equity Movers: Petroleum Pipeline, Thac Mo, VietinBank

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, rose 1.3 percent to 426.39.

Petroleum Pipeline & Tank Construction Joint-Stock Co. (PXT) gained 4.7 percent to 6,700 dong. The company will pay a dividend of 400 dong a share on July 31, it said in a statement on the exchange’s website.

Thac Mo Hydropower Plant Joint-Stock Co. (TMP) advanced 4.6 percent to 11,500 dong, the biggest gain since March 5. The company plans to pay its shareholders a dividend of 800 dong a share on July 11, according to a statement on the bourse’s website.

Vietnam Joint Stock Commercial Bank for Industry & Trade (CTG VN), the country’s second-largest publicly traded bank by market value, rose 2.5 percent to 20,400 dong.

Risks at Vietnamese banks are not as elevated as before, World Bank Vietnam country director Victoria Kwakwa said in an interview yesterday. While indicators six months ago suggested “a major issue” in the sector, “now it looks like somehow they’ve managed that immediate risk,” she said.

To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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