The benchmark VN Index gained 0.63 per cent to close at 958.31 points. The southern market index rose total 1.83 per cent last week.The HNX Index on the Ha Noi Stock Exchange inched up 0.18 per cent to end at 113.23 points following weekly growth of 1.28 per cent.More than 215.4 million shares were traded on the two local exchanges, worth VND5.14 trillion (US$228.4 million), down 11 per cent in volume and 3.6 per cent in value compared to last week’s average daily trading figures.The VN30 Index, which tracks the performance of the 30 largest companies by market capitalisation and has a big impact on market movement, was up 0.36 per cent to 949.28 points.The large-cap group indicator was driven by strong growth of brewer Sabeco (SAB), insurer Bao Viet Holdings (BVH), property developer Vingroup (VIC), PetroVietnam Gas (GAS), petrol dealer Petrolimex (PLX) and Vietcombank (VCB).BVH, SAB and VIC were the three blue chips that achieved the highest growth rates, which were 6.2 per … [Read more...] about VN stocks up again on blue chips
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Bank stocks drag down VN-Index
Investors at Tan Viet Securities Inc in Hanoi (Photo: VNA) Hanoi (VNA) - Shares declinedon the two national stock exchanges on December 21, dragged by bank stocks, asinvestor sentiment remained unstable on the market outlook.On the HCM Stock Exchange, the VN-Indexdropped 0.78 percent to close trade at 946.06 points. Meanwhile, the HNX-Indexon the Hanoi Stock Exchange edged down 0.33 percent to end at 113.57 points.Both stock indices decreased on the previousday.Energy and bank stocks, which were themarket drivers in the previous session, slumped on December 21.Six of 10 listed banks on the two stockexchanges lost value and only two advanced. The Big Three (three biggest banksby market value) – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – alldecreased by over 1 percent.Among oil and gas stocks, only PV Gas (GAS)maintained a tiny gain of 0.3 percent while other companies such asPetroVietnam Drilling and Well Services (PVD) and PetroVietnam Drilling Mud(PVC) … [Read more...] about Bank stocks drag down VN-Index
VN-Index rises on upbeat sentiment
VN-Index rises on upbeat sentiment Kim Ngan HCMC – Upbeat investor sentiment led the HCMC market to end up on February 7 with the VN-Index adding 0.27% at 701.91points after two consecutive losing sessions. More than 158.6 million shares worth a combined VND3.3 trillion (US$147.5 million) changed hands, up 34% against the session earlier. Matched volume stood at 151 million shares worth VND2.8 trillion. Dau tu Chung khoan newspaper attributed the rally to strong cash flows. Heavyweights VNM, VIC, SAB and ROS extended their winning momentum and were key contributors to the market rally. Almost all steel stocks also performed well. Except for VCB, other bank stocks retreated such as BID losing 0.6% and CTG declining 0.8%. GAS and PVD of the petroleum sector dipped on profit taking. Regarding the securities sector, SSI closed up for a second day with a 1.7% increase at VND20,900 a share and HCM soared 3.14% at VND29,550 per share for a third session. FLC again took the lead … [Read more...] about VN-Index rises on upbeat sentiment
VN-Index predicted to soar to 900 points
VN-Index predicted to soar to 900 pointsPhuong Thao HCMC – Securities firms expect the VN-Index to beat 900 points in the near term as the index stood firmly above the psychological level of 890 points last week. The index fell slightly for the first time in two weeks, closing down 0.24% at 890.69 points last Friday. For the week, the index advanced 2.6% on the heels of the previous week’s 2.9% jump, marking the seven-week spike. Vietnam’s leading fuel retailer PLX fell to near a 10-month low while housing developer KDH soared to a record high, securing its 71% gain so far this year, amid heavy foreign buying. Fellow property developer VIC also hit a new high, having picked up 70% since early this year. HT1, a cement maker, surged on possible bottom fishing by investors after the company had plunged 41% over the previous four months through Wednesday. Foreign investors net bought nearly VND2.9 trillion of shares on the HCMC market, making significant contributions to … [Read more...] about VN-Index predicted to soar to 900 points
Bright outlook for VN-Index in December
The VN-Index of the HCM Stock Exchange rose 2.65 per cent last week, concluding Friday at 960.33 points, the highest since December 7, 2007.Viet Nam’s key market index gained nearly 13.5 per cent in the past one month and has climbed 44.5 per cent since the beginning of this year.In north, the HNX-Index rose 4.2 per cent last week, closing Friday at 115.49 points. The northern market index has also expanded over 44 per cent this year.The Ministry of Industry and Trade (MoIT)’s announcement on the long-awaited competitive share offering of Sai Gon Beer-Alcohol-Beverage Corporation, better known as Sabeco (SAB), and the Development Investment Construction Joint Stock Company (DIG) has spurred investors’ interest in the stock market.SAB was also among the biggest gainers with a weekly gain of 3.5 per cent given that it is the most expensive stock in the market, at VND330,000 (US$14.47) per share.MoIT has said that 343.6 million, equivalent to 53.59 per cent of … [Read more...] about Bright outlook for VN-Index in December