Vietnam Equity Movers: Cavico, Development Investment, Infonet
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, climbed 0.8 percent to 470.67.
Cavico Vietnam Mining & Construction Joint-Stock Co. (MCV VN), which provides mining and construction services, rose 4.3 percent to 7,300 dong. The company said first-half net profit more than doubled to 2.5 billion dong ($120,000), according to a statement on the exchange’s website.
Development Investment Construction Joint-Stock Corp. (DIG VN), the construction company based in the southern province of Ba Ria-Vung Tau, slid 2.1 percent to 23,500 dong. The company cut its 2011 profit target by 36 percent to 320 billion dong, according to a statement in its website.
Information & Networking Technology Joint-Stock Co. (CMT VN), a telecommunications consulting service provider known as Infonet, rallied for a fourth day, adding 4 percent to 7,900 dong. The stock closed at the highest level since July 13. The company plans to buy back 500,000 shares, starting from Sept. 22, according to a statement on the exchange’s website.
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