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Vietnam’s Equity Movers: Elcom Corp., Vietcombank Decline

Nov. 8 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, retreated 0.5 percent to 408.60.

Elcom Corp. (ELC VN), which offers telecommunications, information technology, automation and electronics products and services, dropped 3.3 percent to 23,500 dong. SSI Asset Management Ltd. reduced its stake in Elcom to 6.21 percent from 6.23 percent, according to a statement on the bourse’s website.

Joint-Stock Commercial Bank for Foreign Trade of Vietnam (VCB VN), the country’s biggest listed lender by market value, fell 1.2 percent to 24,400 dong. Vietnam’s banking industry is experiencing a deterioration in loan quality, capital, profitability and liquidity, Christine Kuo, a vice president and senior credit officer for financial institutions at Moody’s Investors Service, said at a conference in Beijing today.

To contact Bloomberg News staff for 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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