Dec. 7 (Bloomberg) -- Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, snapped three days of gains, falling 1 percent to 460.76 at the 11 a.m. local time close.
Binh Duong Mineral and Construction Joint-Stock Co. (KSB VN), a mining and building company that also produces construction materials and mineral water, jumped 4.4 percent to 59,500 dong, the highest since Nov. 8. VF1 fund, managed by VietFund Management Ltd., plans to raise its stake in Binh Duong to 15.5 percent from 12.23 percent from Dec. 9 to Feb. 6, according to a statement to the bourse.
Hoang Long Group (HLG VN), whose businesses include property development, taxi transport, shipping and natural resources exploration, slid 4.3 percent to 13,300 dong, the steepest decline since Nov. 12. The company cut its net profit forecast this year to 45 billion dong ($2.3 million) from 95 billion dong because of high borrowing costs, it said in an exchange filing.
Ocean Group Joint-Stock Co. (OGC VN), a Vietnamese real-estate and financial company, fell 4.2 percent to 24,900 dong, the biggest decrease in three weeks. Bao Minh Investment & Construction Joint-Stock Co. plans to lower its stake in Ocean to 3.77 percent from 4.97 percent from Dec. 10 to Jan. 10, according to an exchange statement.
Tan Dai Hung Plastic Joint-Stock Co. (TPC VN), a Ho Chi Minh City-based company that makes plastic bags, slumped 4.8 percent to 11,800 dong, the biggest drop since Sept. 10. Que Tran Co. plans to cut its stake in Tan Dai Hung to 4.41 percent from 7.41 percent from Dec. 9 to Jan. 6, according to a statement on the bourse’s website.
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