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Vietnam Stocks: Binh Minh Plastics, Bourbon Tay Ninh, Sacombank

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Dec. 1 (Bloomberg) -- Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, snapped six days of gains, dropping 0.4 percent to 449.93 at the 11 a.m. local time close.

Binh Minh Plastics Joint-Stock Co. (BMP VN), which manufactures plastic pipes in Ho Chi Minh City, gained 1 percent to 49,500 dong. Templeton Frontier Markets Fund, managed by Templeton Asset Management Ltd., plans to raise its stake in Binh Minh to 7 percent from 5 percent during the period from Dec. 2 to Feb. 2, according to an exchange statement.

Bourbon Tay Ninh Joint-Stock Co. (SBT VN), the country’s biggest listed sugar company, fell 1.7 percent to 11,900 dong. Saigon Thuong Tin Commercial Joint-Stock Bank (STB VN) cut its stake in Bourbon Tay Ninh to 4.96 percent from 5.44 percent, according to a filing with the bourse. Sacombank, as the lender is known, slid 1.4 percent today.

Phuong Nam Cultural Joint-Stock Co. (PNC VN), a book publisher and video producer, decreased 1.1 percent to 8,800 dong. A fund managed by Caravel Management LLC plans to cut its stake in Phuong Nam to 4.8 percent from 7.04 percent during the period from Dec. 3 to Feb. 3, according to a statement on the exchange’s website.

To contact the Bloomberg News staff on this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

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

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