Vietnam’s Stocks: Cho Lon Wasuco, Danang Rubber, Petro Capital
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, rose 0.8 percent to 481.29.
Rubber Stocks: Dong Phu Rubber Joint-Stock Co. (DPR VN), the second-largest listed producer of the commodity, rose 2.7 percent to 57,000 dong, the steepest rally in two months. Danang Rubber Joint-Stock Co. (DRC VN) gained 1.3 percent to 30,300 dong, the highest level since April 15. Thong Nhat Rubber Joint- Stock Co. (TNC VN) jumped 4.5 percent to 14,000 dong.
Rubber increased for a second day amid speculation that China, the world’s largest user, may buy the commodity to replenish stockpiles and as supplies remain tight from Thailand, the biggest exporter.
Cho Lon Wasuco Joint-Stock Co. (CLW VN), a water supplier, gained 4 percent to 7,800 dong, the highest close since Feb. 11. The Ho Chi Minh City-based company will pay a dividend of 1,000 dong a share on June 10, according to a statement on the bourse’s website.
Petro Capital & Infrastructure Investment Joint-Stock Co. (PTL VN), a construction company, climbed 3.2 percent to 9,700 dong, the highest level since April 13. The company plans to buy back 8 million shares from May 16 to Aug. 16, it said in a filing with the exchange.
--Diep Ngoc Pham in Hanoi, with assistance from Giang Nguyen. Editor: Shiyin Chen
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