Vietnam Stock Movers: Vietcombank, Masan Group, Saovang 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, lost 0.8 percent to 433.97, the lowest level in this month.
Joint-Stock Commercial Bank for Foreign Trade of Vietnam (VCB VN), the country’s biggest listed lender by market value known as Vietcombank, climbed 4.9 percent to 27,900 dong, the steepest rally since July 18. It will sell a 15 percent stake to Japan’s Mizuho Financial Group Inc. for about $570 million, Chief Executive Officer Nguyen Phuoc Thanh said yesterday.
Masan Group Corp. (MSN) , the nation’s biggest publicly traded company, fell 3.9 percent to 123,000 dong, a three-week low. Vice Chairman Ho Hung Anh will cut his stake in the company to 3.8 percent from 4.2 percent by selling 2 million shares from Sept. 30 to Oct. 30, according to a statement on the bourse’s website.
Saovang Rubber Joint-Stock Co. (SRC VN) dropped 2.2 percent to 13,100 dong. Rubber declined, reversing earlier gains, as a drop in oil reduced the appeal of the commodity amid speculation that European leaders are divided on plans to tame a sovereign- debt crisis.
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