Vietnam’s Stocks: Hanoi Maritime, Vinaship, Thong Nhat Rubber
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, declined 0.3 percent to 463.49.
Hanoi Maritime Joint-Stock Co. (MHC VN), which offers marine freight transportation services, plunged by the bourse’s maximum daily limit of 5 percent to 5,700 dong. The stock posted its biggest one-day drop since March 1 after the exchange said it will halt trading of the shares from tomorrow because of the company’s losses in the last two years. Hanoi Maritime had a net loss of 32.6 billion dong ($1.6 million) in 2009 and a loss of 43.7 billion in 2010, according to a company filing to the exchange.
Vinaship Joint-Stock Co. (VNA VN), a transporter and provider of logistical services in the northern port city of Haiphong, dropped 1.9 percent to 10,300 dong. Vinaship posted a net loss of 5.12 billion dong in the last quarter in 2010, according to company figures on the exchange’s Web site. The company’s debts exceeded its assets by 184 billion dong, more than the 175.5 billion dong in 2009, according to a company statement on the bourse’s website.
Thong Nhat Rubber Joint-Stock Co. (TNC VN), a maker of rubber products, rose 4.7 percent, the most since March 10, to 15,700 dong. The company plans to pay its shareholders a dividend of 1,500 dong per share on May 4, it said in a statement filed on the exchange’s Web site.
--Nguyen Dieu Tu Uyen. With assistance from Diep Pham. Editor: Shiyin Chen
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