Vietnam’s Stocks: PetroVietnam Finance, Cuongthuan Idico

Dec. 29 (Bloomberg) -- Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, declined 0.1 percent, to close at 478.75.

PetroVietnam Finance Co. (PVF VN), a unit of Vietnam Oil & Gas Group, dropped 2.9 percent to a two-week low of 23,500 dong. The company estimates pretax profit of 625 billion dong ($32 million) by the end of the year, according to a statement on its website. That compares with 672.3 billion dong of pretax income in 2009, according to the company figures on its website.

Cuongthuan Idico Development Investment Corp. (CTI VN), which supplies concrete products, retreated 0.2 percent to 48,300 dong. Pham Thanh Quang, the company’s deputy chief executive officer will sell 14,500 shares to reduce his current holdings of 54,500 shares from Jan. 4, according to a statement filed with the exchange.

To contact Bloomberg News Staff on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

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