Vietnam Stocks: Kinh Bac City, Thu Duc Housing, SMC Investment
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 2:15 p.m. local-time close in Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, rose for a sixth day, adding 1.4 percent to 465.26, the highest since Sept. 15.
Property Stocks: Kinh Bac City Development Share Holding Corp. (KBC) , Vietnam’s third-biggest property firm by market value, gained 3.9 percent to 15,800 dong, the highest close since March 9. Thu Duc Housing Development Joint-Stock Co. (TDH) , a real-estate firm backed by Deutsche Bank AG, surged 4.9 percent to 17,100 dong, the highest in more than six months. Dat Xanh Real Estate Service & Construction Joint-Stock Co. (DXG) jumped by the daily limit of 5 percent to 10,500 dong, the highest close since Dec. 1.
The central bank eased lending regulations yesterday to give homebuyers better access to loans. “Banks now can give out more loans for home purchases,” Nguyen Hoai Nam, deputy head of research at Kim Eng Vietnam Securities Co., said by phone from Hanoi. “Property companies will benefit as they will be able to reduce their inventory.”
SMC Investment Trading Joint-Stock Co. (SMC) , a steel trader in Ho Chi Minh City, surged 4.7 percent to 11,100 dong, the highest close since Nov. 1. Chairman and General Director Nguyen Ngoc Anh rose his stake in the company to 15.6 percent from 14.3 percent, according to an exchange filing.
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