Vietnam’s Equity Movers: Danang Rubber, Saigon-Hanoi Bank
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 0.6 percent to 435.59, the highest close since May 25.
Danang Rubber Joint-Stock Co. (DRC) increased 3.6 percent to 29,000 dong. The November-delivery rubber contract on the Tokyo Commodity Exchange climbed as much as 3.9 percent, the biggest gain since June 7. Futures extended last week’s 4.3 percent advance, the first increase in six weeks.
Saigon-Hanoi Commercial Joint-Stock Bank (SHB) rose 1.1 percent to 9,400 dong. Vietnam’s central bank approved a merger between the lender and Hanoi Building Commercial Joint-Stock Bank (HBB), or Habubank, according to a statement posted on the State Bank of Vietnam’s website on June 15. The two banks have been instructed to submit a detailed plan to the central bank governor.
Transforwarding Warehousing Joint-Stock Co. (TMS) , a provider of transportation and freight-forwarding services, climbed 4.5 percent to 28,000 dong, the highest close since Feb. 24. The company forecasts net income to rise 5.7 percent to 63 billion dong ($3 million), it said in a statement on the exchange’s website.
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