VN-Index seen dropping this week Kim Ngan HCMC – Securities companies have expressed concern over a possible fall of the equity market this week, saying the next resistance level for the VN-Index would be between 640 and 645 points. Maybank Kim Eng Securities Company wrote in a report that for a bad scenario, the main index may plunge below 640 points and then a losing streak would develop. Meanwhile, Bao Viet Securities Company said increased foreign buying is good news but further losses of large caps would weigh on the market. Last week saw both indexes dipping sharply over the week earlier. The VN-Index ended down 2.2% at 649.87 points while the HNX-Index closed down 2.95% at 84.07 points. The average matched volume stood at 124.6 million shares per session on the HCMC bourse, an 11% fall, and exceeded 45 million shares per session on the Hanoi market, skidding 27%. Bank and large-cap stocks spurred the market rally last Monday. However, the main index dipped steadily … [Read more...] about VN-Index seen dropping this week
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Brokerages expect VN-Index to rise further
Brokerages expect VN-Index to rise further Kim Ngan HCMC – The VN-Index might soar to 700 points in the coming sessions though the latest data points to a pickup in stock sales, according to projections by a number of securities companies. Bao Viet Securities Company said in a report that sectors like banking, securities, petroleum and insurance drove the market up last week on the back of the recent deposit interest rate cuts and the OPEC decision on November oil output cuts. The brokerage expected the main index to move towards the 700-720-point range soon but there would be some correction since this is a strong resistance range. Last week saw stocks making hefty gains as the VN-Index climbed 1.73% at 685.73 points while the HNX-Index went up 2.02% at 85 points. The average matched volume fell slightly to 106.2 million shares per session on the HCMC exchange, and was nearly unchanged at 35.7 million shares per session on the Hanoi market. Although selling pressure built … [Read more...] about Brokerages expect VN-Index to rise further
VN-Index rises to new high
VN-Index rises to new high Kim Ngan HCMC – The VN-Index of the HCMC exchange, backed by gains of a couple of blue chips, on September 26 grew to a new high of 677.04 points, up 0.44% from the previous session. Viet Capital Securities Company wrote in a report that stocks were in the red in much of the morning session but winning momentum appeared in afternoon trade, and the index broke above the 675-point resistance level to end at 677.04 points. Local investors reacted positively to news that many banks have cut deposit rates. Insurance stock BVH was the top contributor to the market rally with a 4% pickup, jumping to a four-year high of VND68,000 per share following a 16% surge over the past six trading days. Similarly, VNM edged up 0.7%, VIC climbed 0.8% and ROS leapt 4.4%. On the negative side, PVD lost 2.3% and GAS inched down 0.2% as Brent crude oil was little changed in Asian trade on September … [Read more...] about VN-Index rises to new high
VN-Index hits over one-month high
Viet Nam News HA NOI - Shares rose for the third consecutive day on the HCM Stock Exchange yesterday as investors continued to focus on large-cap stocks in expectation of further market growth. The benchmark VN-Index, the measure of 310 stocks, inched up 0.5 per cent to close yesterday's session at 672.7 points, the highest in one and a half months. It has risen 2.2 per cent in the past three days. The HNX-Index on the smaller market in Ha Noi, tracking 379 stocks, was up 0.6 per cent to end at 84.7 points. It declined 0.9 per cent on Monday. Specific stocks continued to boost the market. Eight of the top 10 largest shares by market capitalisation gained value, of which Masan Group (MSN) was the most significant gainer with a rise of 4.5 per cent. Its share price has climbed 13.8 per cent in the last three sessions following the announcement of a 20-million-share buyback. Insurer Bao Viet Holdings (BVH) and PV Gas (GAS) each increased 2.5 per cent, while others, including dairy … [Read more...] about VN-Index hits over one-month high
VN-Index down slightly
VN-Index down slightly Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC – The HCMC market fell slightly on April 25, with the VN-Index skidding 0.15% at 591.58 points. Investors changed hands 161.6 million shares worth over VND3.1 trillion (US$139.16 million), up sharply from the previous session. Of VND606.2 billion worth of shares transacted in put-through deals, KSB accounted for VND102.7 billion, LDG for VND91.3 billion and SAM for VND52.9 billion. According to Maybank Kim Eng Securities Company, financials BID, CTG, VCB and BVH stayed in positive territory, backing the market. Almost all large caps inched down as VNM shrank 0.71% and MSN edged 0.72% lower. Petroleum leader GAS shed 2.42% and PVD contracted 1.61% due to profit taking. Sugar stocks, which made strong gains in previous sessions, closed mixed since BHS, NHS and SBT declined while KTS, LSS and SLS jumped to their ceiling prices. HAGL Company (HAG) extended its gains for a third consecutive session, up … [Read more...] about VN-Index down slightly