PetroVietnam, Pha Lai Thermal, Sacombank Stocks On June23

Monday, June 23, 2008
The Ho Chi Minh City Stock Exchange's VN-Index rose 2.93, or 0.8%, to close at 368.95, climbing for the first time in four days. The following shares were among the most active in the market.

Financial companies: Saigon Securities Inc. (SSI VN), the country's biggest publicly traded brokerage, rose 800 dong, or 3%, to 27,800. Saigon Thuong Tin Commercial Joint-Stock Bank (STB VN), known as Sacombank and the exchange's fifth-biggest company, climbed 500 dong, or 2.5%, to 20,200.

The State Securities Commission of Vietnam, the nation's market regulator, is drawing up a plan to set up a fund to stabilize the stock market, the Dau Tu Chung Khoan newspaper reported, citing Chairman Vu Bang.

PetroVietnam Drilling & Well Services Joint-Stock Co. (PVD VN), a provider of services to the oil and gas industry, gained 1,500 dong, or 2.3%, to 66,500. Crude oil for July delivery rose 2% to settle at $134.62 a barrel in New York on June 20.

Pha Lai Thermal Power Joint-Stock Co. (PPC VN), Vietnam's largest publicly listed coal-power company, declined 700 dong, or 2.8%, to 24,100. Power station coal prices at Australia's Newcastle port, a benchmark for Asia, climbed to a record, rising 1.5% to $162.66 a metric ton in the week ended June 22, according to the globalCOAL NEWC Index.