Vietnam’s Stocks: Sacombank, Duyenhai Multi Modal Transport Gain
The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, rose 1.8 percent to 441.85. The VN-30 Index (VN30), a free-float adjusted, market capitalization-weighted index of 30 stocks that have the highest market value and liquidity on the bourse, gained 2.4 percent to 502.82.
Saigon Thuong Tin Commercial Joint-Stock Bank (STB) , known as Sacombank, rose 4.5 percent to 23,300 dong, the highest close since March 5.
Vietnam’s central bank has begun taking measures to phase out cross-ownership among commercial lenders to end lending problems, Nguyen Huu Nghia, a director at the State Bank of Vietnam said yesterday in Hanoi. Vietnam will also “isolate” the nation’s weak banks to contain the impact of their financial difficulties, he added.
Duyenhai Multi Modal Transport Joint-Stock Co. (TCO) , which provides transportation services, rose 1 percent to 10,200 dong. The company will buy back 100,000 shares from March 26 until June 26, it said in a statement filed on the bourse’s website.
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