Vietnam’s Stocks: Sacombank, Khang An Investment, Vinalink
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 0.2 percent to 461.13.
Saigon Thuong Tin Commercial Joint-Stock Bank (STB VN), known commonly as Sacombank, rose 0.7 percent to 14,000 dong. Netherlands Development Finance Co. said on its website it has arranged a 10-year, $150 million syndicated loan for Saigon Thuong Tin Commercial.
Khang An Investment Real Estate Joint-Stock Co. (KAC VN), a real estate investment company, fell 1.2 percent to 25,800 dong, the lowest since Feb. 11. After-tax profit for the fourth quarter ended Dec. 31 was revised 38 percent lower to 22.4 billion dong ($1.07 million), the company said in a statement on the exchange website.
Vinalink International Freight Forwarders (VNL) , which provides international freight forwarding services, climbed 4.6 percent to 13,600 dong, the most since March 24. Ho Chi Minh City Cargo Association plans to raise freight charges by as much as 10 percent following an increase in petroleum-product prices, the Tien Phong newspaper reported, citing information from the association. The Finance Ministry raised petroleum-product prices by as much as 15 percent starting on March 29.
--Nguyen Kieu Giang. With assistance by Diep Ngoc Pham in Hanoi. Editor: Reinie Booysen
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