Bloomberg News

Vietnam’s Equity Movers: Vinacafe Bien Hoa, Phu Nhuan Jewelry

October 20, 2011

Oct. 20 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, increased 0.6 percent to 403.73.

Phu Nhuan Jewelry Joint-Stock Co. (PNJ VN), Vietnam’s only listed jewelry manufacturer, dropped 1.6 percent to 37,000 dong. Gold for immediate delivery dropped for a fourth day, falling as much as 1.4 percent to $1,618.18 an ounce, the lowest level since Oct. 5.

Vinacafe Bien Hoa Joint-Stock Co. (VCF VN), a unit of Vietnam’s second-biggest coffee exporter, rose 4.9 percent to 96,500 dong. Vietnam’s 2011-2012 coffee crop may exceed 1.1 million metric tons, Thoi Bao Kinh Te newspaper reported today, citing the Ministry of Agriculture and Rural Development. The ministry has asked banks to arrange as much as 20 trillion dong ($955 million) in funding to help companies to buy and stockpile the beans to support prices, Thoi Bao said.

--Nguyen Kieu Giang. Editor: Shiyin Chen

To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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