Vietnam Stocks: Saigon Securities, PetroVietnam Finance, LIX
The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, climbed 0.9 percent to 449.04. The measure has gained 1.8 percent this week. 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, climbed 1.2 percent to 513.30.
LIX Detergent Joint-Stock Co. (LIX) , a producer of powder and liquid detergents, fell 3 percent to 32,500 dong, headed for the lowest close since Jan. 19. LIX’s 2012 pretax profit may drop to 80 billion dong ($3.8 million), from 86.4 billion in 2011, it said in a statement on its website. It also plans to pay a dividend of 2,500 dong a share this year, compared with 3,500 dong in 2011.
PetroVietnam Finance Joint-Stock Co. (PVF) gained for a fourth day, adding 3.8 percent to 13,700 dong, the highest since March 23. The company plans to sell 5 trillion dong of three- to five-year bonds as early as this quarter and 3 trillion dong of convertible notes later this year to help lower borrowing costs, according to Chief Executive Officer Nguyen Thien Bao.
Saigon Securities Joint-Stock Co. (SSI) rallied 3 percent to 20,600 dong, poised for its highest close since March 23. The company was ranked Vietnam’s biggest brokerage with a market share of 11.7 percent as of the end of the first quarter, the stock exchange said in a statement.
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