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PVCFC partners with Chinese chemical company

The Saigon Times

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HCMC – Petro Vietnam Ca Mau Fertilizer JSC (PVCFC), whose DCM shares are traded on the Hochiminh Stock Exchange (HOSE), signed a strategic partnership with the Yunnan Yuntianhua Honglin Chemical Company yesterday, March 7.

Yuntianhua Honglin Chemical Company is an affiliate of the Yuntianhua Group Company, a giant chemical manufacturer in China.

Yunnan Yuntianhua is one of the largest chemical firms worldwide, with output of 10 million tons of products per year. It ships over 200,000 tons of green granular Diammonium Phosphate (DAP) and a large volume of brown granular DAP to Vietnam every year.

The partnership agreement is expected to help local farmers access high quality DAP at a competitive price, PVCFC said, adding that this is also a big leap forward for the firm to sustainably develop Vietnam’s agriculture.

Closing the trading session today, March 8, DCM lost 0.22% over the previous session to VND23,150 despite the market’s upbeat mood.

On the HCMC bourse, the VN-Index continued the winning streak for the third straight session with a gain of 11.34 points, or 1.09% versus yesterday, at 1,049.18, with 256 advancers and 123 decliners.

Trade on the southern bourse topped VND8.5 trillion with 510.3 million shares changing hands, up 10% in volume and 5.7% in value against the session earlier. Around 29.6 million shares traded in block deals contributed more than VND719.3 billion to the amount.

Almost all bank and financial services stocks rose during the trading session today. VND was the most traded among financial services stocks with over 20.4 million shares changing hands.

Meanwhile, VPB took the lead by liquidity on the HCMC exchange, with over 27.2 million shares traded.

On the northern bourse, the HNX-Index edged up 1.18 points to 208.68, up 0.57% over the previous session, with 92 winners and 57 losers.

With 102 million shares valued at nearly VND1.3 trillion changing hands, trade on the Hanoi Stock Exchange skyrocketed 126.8% in volume and 85.9% in value over the previous session. Shares transacted in put-through deals made up over 40% of the amount, at VND389 billion with 44.3 million shares.

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