Bloomberg News

Vietnam’s Stocks: Eximbank, Phuoc Hoa Rubber, Saovang Rubber

December 29, 2011

Dec. 29 (Bloomberg) -- 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, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell less than 0.1 percent to 350.51. The gauge has dropped 28 percent this year.

Rubber stocks: Phuoc Hoa Rubber Joint-Stock Co. (PHR VN), the country’s biggest listed rubber company, dropped 4.8 percent to 27,500 dong, the biggest loss since May 25. Saovang Rubber Joint-Stock Co. (SRC VN) slid 4.8 percent to 6,000 dong. Danang Rubber Joint-Stock Co. (DRC VN) fell 1.2 percent to 16,600 dong.

Rubber declined to its lowest level in more than a week on concerns that a worsening debt crisis in Europe may slow demand for the commodity used in tires, spurring selling before the New Year holidays.

Vietnam Export-Import Commercial Joint-Stock Bank (EIB VN), or Eximbank, gained 1.4 percent to 14,300 dong, the highest level since December 2010. The lender will pay a dividend of 1,400 dong a share, according to an exchange statement.

--Diep Ngoc Pham. Editor: Shiyin Chen

To contact Bloomberg News staff for this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

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


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