Markets

Customers at Vietinbank's transaction office. The bank's shares jumped 1.66 per cent yesterday, cushioning the market's downtrend. — Photo baochinhphu.vn The stock market was down slightly yesterday with both benchmark indices lower due to weak risk appetite. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 1.22 points, or 0.1 per cent, to 1,248 points. This ended the two-day rally. The market’s breadth was in a negative zone with 262 stocks declining, while 184 stocks inched up. However, liquidity improved compared to the previous session, of which matching value on the southern bourse increased by 1 per cent to over VND10.1 trillion (US$431 million). The index’s movement was due to risk-off sentiment with many big stocks facing a sell-off. The 30 biggest stocks tracker VN30-Index also finished lower at 1,272.48 points, a decrease of 3.12 points, or 0.24 per cent. Data compiled by financial website vietstock.vn showed that realty, manufacturing and banking sectors … [Read more...] about Market down slightly on risk-off sentiment

A Mobile World Group (MWG) staff speaks to customers. MWG lost 2.4 per cent yesterday. — Photo courtesy of Mobile World Group Viet Nam’s stock market continued to experience volatility this week as the VN-Index concluded yesterday down after a brief recovery in the previous session. On the Ho Chi Minh Stock Exchange, the VN-Index decreased 0.69 per cent to close at 1,210.55 points. It rose 1.12 per cent on Tuesday after witnessing a decline of 2.3 per cent on Monday. The market condition was negative as the number of losers overwhelmed the gainers by 309-140 while another 123 closed flat. Liquidity also dropped to a two-month low with nearly 392 million shares worth VND9.8 trillion (US$417 million) traded. The trading volume and value declined from the start of the week with decreases of nearly 40 per cent in both volume and value compared to Monday’s levels. Only six out of 25 sectors gained value while 19 registered losses, of which retail, banking and financial group, … [Read more...] about Market volatile, liquidity drops to 2-month low

SSI’s Nguyen Huu Canh transaction office in HCM City. The company issused 28 warrant codes in August and listed them on the Ho Chi Minh Stock Exchange on September 22. — Photo courtesy of the company With the number of new released covered warrant (CW) codes increasing nearly four times between August 2021 and August 2022, the warrant market is expected to be active again in the last three months of the year thanks to new issuances. SSI Securities Corporation listed 423 million covered warrants under 28 new CW codes that it issued at the end of August on the Ho Chi Minh Stock Exchange on Thursday. The 28 are based on 12 blue-chip stocks, mainly in banking (ACB, MBB, STB, TCB, TPB, and VPB), real estate and building materials (VHM, KDH and HPG) and retail (FPT, MWG and VRE). They have maturities of four, seven and 12 months, and conversion ratios of 2:1, 4:1, 6:1, 8:1, and 10:1. An SSI spokesperson said the company constantly seeks to issue covered warrants for a diverse … [Read more...] about Warrant market to be active in the rest of 2022

According to statistics from the Vietnam Securities Depository (VSD), since the beginning of this year, 18 companies have cancelled their share listing on HOSE and HNX to switch to the Unlisted Public Company Market (UPCoM). (Photo: VNA) An investor, Nguyen Ngoc Hung, told Vietnam News Agency that businesses who have shares delisted from the market must be strictly dealt with, but investors who bought shares of that business would be affected and there should be a mechanism to protect them. According to statistics from the Vietnam Securities Depository (VSD), since the beginning of this year, 18 companies have cancelled their share listings on HOSE and HNX to switch to the Unlisted Public Company Market (UPCoM). Notably, there are more than 70 enterprises having their status as public companies cancelled and leaving the stock market. Huynh Anh Tuan, General Director of Dong A Bank Securities Joint Stock Company, said that many of the delisting cases were related to information … [Read more...] about Delisting poor quality shares helps make market more transparent

In contrast to the stalled travel spotted one year ago, resort venues have often been overcrowded during the peak tourism season in this year’s third quarter, particularly at weekends and on holidays. Aviation is one of the sectors benefiting from this change. According to statistics from the Civil Aviation Administration of Vietnam, nearly 12 million passengers called on Vietnam’s airports in July. The number of local passengers is expected to reach 89 million this year, climbing by 200 per cent on-year and showing a 20 per cent jump compared to 2019. Deputy CEO at new-generation airline Vietjet (VJC) Ho Ngoc Yen Phuong said that the company’s business has become more stable in July and August. In the third quarter, VJC is expected to serve about 6.5 million passengers, generating more than $400 million in revenue even though the company only has exploited 10 per cent of its international routes. VJC also aims to count over $226 million in the last four months from its … [Read more...] about Weighing stock market opportunities in Q3

Online tutoring platform Vuihoc raised $2 million in its latest funding round led by BAce Capital, a venture fund backed by Japanese giant Ant Group, and with the participation of Vulpes Venture, DT&Investment & Colopl Next and Nextrans. Founded in 2019, it now has over 400,000 learning materials including online courses, video lessons and quizzes. It hopes to reach one million subscriptions by 2024. English self-learning platform Edupia raised $14 million in a series A round led by Jungle Ventures with eWTP Capital (a venture fund under Alibaba and Ant Financial) and ThinkZone Ventures participating. Edupia has five million users, including 400,000 paying students. Tran Duc Hung, who founded the company in 2018, said Edupia is on track to exceed its $100 million revenue target in the next three years. Most of its users are in Vietnam, but it is also expanding into other Southeast Asian markets like Indonesia, Thailand and Myanmar, and adding more subjects, including … [Read more...] about Global investors’ appetite for Vietnam edtech market grows

Anh was speaking at the conference "Corporate bond market: Trust and responsibility" held by BizLive yesterday. He said corporate bonds are a flexible capital channel which allows firms to raise proceeds without causing dilution of ownership. Between 2017 and 2021, the market grew at an annual rate of 46 per cent, indicating a huge demand for the financial instrument. The corporate bond market still has ample room for improvement, according to Nguyen Tu Anh, Director of the General Economic Affairs Department, Communist Party Economic Commission. However, fast growth normally goes with high risks. After some scandals, the Government had to take tough action to keep the market in order. The director underscored two possible solutions to restore trust in the market. The classic solution is to develop strict regulations to keep all risks at bay. This solution is not advisable as it goes against the principle of risk-return trade-off. The second solution is to develop … [Read more...] about Corporate bond market has ample room for improvement

A shopper pays using VNPT Money at An Thoi Market in Can Tho City. — VNA/VNS Photo The Can Tho City Department of Industry and Trade has tied up with The Viet Nam Post and Telecommunication Group to trial non-cash payment at An Thoi Market. Shoppers at the market in Binh Thuy District are now able to pay for their purchases without using cash as part of the city's plans to embrace financial technology. Some 150 traders in the market accept digital payments via VNPT Money using their phone number, QR code or bank. Ha Vu Son, the department’s director, said cashless payment is inevitable and offers great convenience. His department would go on to introduce cashless payment at 107 traditional markets in the city besides supermarkets, commercial centres and convenience stores, he said. Payment solutions and infrastructure have been developing rapidly and integrated with a wide variety of products and services, and been well-received by consumers for their security, speed and … [Read more...] about Can Tho City pilots cashless payment at traditional market

Singapore (VNA) – The Singaporean labour market continued to improve in the second quarter of 2022, with total employment reaching 99.5% of the level in December 2019, before the COVID-19 pandemic, said the country's Ministry of Manpower's (MOM) Labour Market Report on September 14. Total employment in the second quarter increased by 66,500, which was significantly higher than the 42,000 increase in the first quarter. In the second quarter alone, resident employment rose by 7,100, while non-resident employment increased by 59,400. External demand outlook has also weakened given the global economic slowdown. Global headwinds such as the Russia-Ukraine conflict, inflationary pressures, geopolitical tensions in the region, and the trajectory of the COVID-19 pandemic may weigh on labour demand going forward, MOM said. "As such, the labour market outlook is uneven across sectors," it said. Tourism and aviation sectors are expected to continue to benefit from a strong … [Read more...] about Singapore: Labour market continues to improve in Q2

The growth was driven by both the Government and corporate bond segments. Vietnam’s local currency bond market (LCY) grew by 8.1% at the end of August from the previous quarter to US$99.5 billion, and annual growth expanded by 31.6% from a year earlier, according to the latest report of the Asian Development Bank (ADB)’s Asia Bond Monitor. Vietnam's bond market size is fast approaching the US$100-billion mark. File photo “The faster expansion was driven by both the government and corporate bond segments,” stated the report. Government bonds increased 7.4% from the previous quarter, driven by growth in central bank bills, to $69.8 billion. Corporate bonds climbed 9.5% from the previous quarter to about $30 billion, driven by hefty issuance. At the end of June, the outstanding bond stock of Vietnam’s top 30 corporate issuers totaled VND414.7 trillion ($17.5 billion), comprising 60.1% of the LCY corporate bond market. Vietnam’s top corporate bond issuers … [Read more...] about Vietnam’s bond market expands to nearly $100 billion