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Vietnam’s Equity Market: Hanoi Maritime, Pha Lai Thermal Power

Jan. 7 (Bloomberg) -- Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 0.1 percent to 481.86 at the 11 a.m. local-time close. The gauge dropped 0.6 percent this week.

Hanoi Maritime Joint-Stock Co. (MHC VN), which offers marine freight transportation services, slid 4.8 percent to 8,000 dong, the biggest decline since in three weeks. It was the fourth worst performing stock on the bourse today. Vietnam National Shipping Lines, or Vinalines, plans to cut its entire stake of 5.15 percent in Hanoi Maritime from Jan. 10 to March 10, according to a statement filed with the exchange.

Pha Lai Thermal Power Joint-Stock Co. (PPC VN), the biggest listed electricity producer, gained 1.8 percent to 11,600 dong. EVN Finance Joint-Stock Co., a unit of Electricity of Vietnam, raised its stake in Pha Lai to 12 percent from 0.6 percent, according to a filing on the bourse’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: Reinie Booysen at rbooysen@bloomberg.net

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