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Vietnam’s Stocks: Phu Nhuan Jewelry, Cuongthuan Idico Advance

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Jan. 19 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 1.7 percent to 505.91, the highest close since July 20.

Cuongthuan Idico Development Investment Corp. (CTI VN), which supplies a wide range of pre-cast concrete products, rose 1.3 percent to 47,500 dong. The company plans to pay its shareholders a dividend of 1,600 dong a share on Feb. 18, it said in a statement filed on the bourse’s website.

Phu Nhuan Jewelry Joint-Stock Co. (PNJ VN), the only jewelry manufacturer on the exchange, gained 1.4 percent to 35,800 dong, the highest since Jan. 4.

The Vietnam Gold Traders Association has asked the ministry of finance to reduce the export tax on gold from 10 percent to zero, the Vietnam News newspaper reported, citing an official. The tax is contributing to the nation’s growing trade deficit, the report said, citing Dinh Nho Bang, general secretary of the association.

To contact the Bloomberg News staff on 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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