Bloomberg News

Vietnam Stocks: PetroVietnam Drilling, Sieu Thanh, Tu Liem Urban

May 11, 2012

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. close in Ho Chi Minh City. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 1.2 percent to 480.10, the most since April 4. The gauge gained 0.8 percent this week, a sixth straight weekly advance.

PetroVietnam Drilling & Well Services Joint-Stock Co. (PVD),, which offers technical services to the oil and natural-gas industry, slid 4.1 percent to 42,300 dong, the most since March 16. Oil fell in New York, heading for a second weekly drop, on concern Europe’s debt crisis will worsen and curb fuel demand as global crude supplies increase. Futures slipped as much as 1.3 percent, retreating for a seventh day in eight.

Sieu Thanh Joint-Stock Co. (ST8) (ST8 VN), which distributes office automation equipment, rose by the daily limit of 5 percent to 14,800 dong, the highest close since June 17. Its first-quarter after-tax profit rose 29 percent from the same period last year, according to a statement on the bourse’s website.

Tu Liem Urban Development Joint-Stock Co. (NTL) , which offers construction services, fell 3.6 percent to 26,800 dong. Its first-quarter net income dropped 69 percent from a year earlier to 12 billion dong ($580,000), according to an exchange filing.

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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