Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. break in Ho Chi Minh City. The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, rose 0.7 percent to 473.39, set for the highest close since May.
Sugar Stocks: Societe de Bourbon Tay Ninh (SBT VN), Vietnam’s biggest listed sugar company, rose 2.4 percent to 21,000 dong. Bien Hoa Sugar Joint-Stock Co. (BHS VN), jumped 4.6 percent to 20,400 dong. Ninh Hoa Sugar Joint-Stock Co. (NHS VN) gained 3.1 percent to 26,600 dong.
An increase in sugar consumption may lead to a shortage by August, Tuoi Tre newspaper reported today, citing a report from the Agriculture Ministry. Sugar use increased by about 150,000 metric tons in the past four weeks, compared with the same period last year, after companies boosted purchases for export to China, according to the report. Vietnam’s sugar stockpile is currently at 355,000 tons, 169,000 tons less than a year ago.
Hung Vuong Corp. (HVG VN), the third-largest listed seafood producer and exporter, gained 2.3 percent, to 36,000 dong. Hung Vuong plans to pay a dividend of 1,000 dong a share on Jun. 29, it said on the exchange’s website.
— With assistance by Nguyen Dieu Tu Uyen