Bloomberg News

Vietnam Stocks: Phuoc Hoa Rubber, PetroVietnam Drilling, PVI

May 16, 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 1.3 percent to 449.91, the lowest close since April 6.

Rubber Stocks: Phuoc Hoa Rubber Joint-Stock Co. (PHR) , the country’s biggest listed rubber company by market value, fell 1.9 percent to 31,800 dong. Saovang Rubber Joint-Stock Co. (SRC) slumped 4.9 percent to 19,400 dong. Southern Rubber Industry Joint-Stock Co. (CSM VN) plunged by the daily limit of 5 percent to 26,600 dong.

October-delivery rubber fell 1.9 percent to end at 265.1 yen a kilogram ($3,298 a metric ton) in Tokyo, the lowest settlement level since Dec. 30.

PetroVietnam Drilling & Well Services Joint-Stock Co. (PVD) decreased 1.1 percent to 37,800 dong, a two-month low. Crude oil for June delivery slid as much as 2.3 percent to $91.81 a barrel in electronic trading in New York.

PVI Holdings (PVI) , Vietnam’s second-largest publicly traded insurer, snapped a five-day drop, rising 2.7 percent to 18,800 dong. It plans to sell another 6 percent stake to Germany’s Talanx AG by the end of the month, Chairman Nguyen Anh Tuan said in a telephone interview yesterday. Talanx bought 25 percent of Hanoi-based PVI in August for 1.9 trillion dong ($91 million).

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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