Vietnam Equity Movers: Hung Vuong Corp., Tay Ninh Rubber

The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, rose 1 percent to 452.66.

Hung Vuong Corp. (HVG) , Vietnam’s largest listed seafood producer and exporter, climbed 4.7 percent to 42,000 dong, heading for the highest close since May 11.

The company will take over Viet Thang Feed Joint-Stock Co. (VTF) by buying 3 million shares through a private placement in the third quarter, the Thoi Bao Kinh Te Vietnam newspaper reported today, citing Hung Vuong. After the stake purchase, Hung Vuong will hold 51 percent in Viet Thang Feed, the report said.

Tay Ninh Rubber Joint-Stock Co. (TRC VN), fell 2 percent to 40,200 dong. October-delivery rubber declined 0.5 percent to 277.4 yen a kilogram ($3,494 a metric ton) on the Tokyo Commodity Exchange at 11:45 a.m. Futures surged as much as 3.7 percent yesterday, the biggest gain since Jan. 17.