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An investor watching the market's movements on her cellphone at an office of Bảo Việt Securities Company. — VNA/VNS Photo The Vietnamese stock market logged the second straight weekly fall last week, with the VN-Index breaking below the key psychological level of 1,200 points. The bearish trend is expected to extend this week, said experts. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index only gained on September 20 and lost for the rest of last week. The index closed the week at 1,193.05 points. Similarly, the HNX-Index on the northern bourse, the Hà Nội Stock Exchange (HNX), experienced the same trend and was last traded at 243.15 points. For the week, both benchmark indices posted a weekly loss, with the former down 2.8 per cent and the latter down 3.8 per cent. Liquidity on the two main exchanges also declined over the previous session. In particular, on HoSE, liquidity slid 11.1 per cent in value to VNĐ118.5 trillion (US$4.86 billion), while it decreased 5.5 per … [Read more...] about Market may continue trading negatively this week: experts

Customers make transaction at an office of SSI Securities Inc (SSI). SSI soared 6.9 per cent yesterday. — Photo SSI The stock market finished higher Wednesday, boosted by bargain-hunting force after a two-day correction. The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed the trading day at 1,153.85 points, an increase of 1.4 per cent. The index had lost a total of 4.6 per cent in the last two sessions. The market’s breadth returned to positive territory with more stocks recovering. Specifically, 308 ticker symbols on HoSE added points, while 191 dropped lower. Trading value on the southern bourse reached VNĐ18.2 trillion (US$746.6 million), equal to a trading volume of nearly 860.4 million shares. The index’s reversal was mainly driven by gains in some large-cap stocks as recent sharp falls stimulated some investors to increase stock proportions in their portfolios. The VN30-Index, which tracks the 30 biggest stocks on HoSE also rose higher, up 1.32 per cent, … [Read more...] about Shares close higher on bargain-purchases

Vinhomes Imperia Hải Phòng Urban Area, a project built by Vingroup. The company's shares soared nearly 3.5 per cent on Wednesday, leading the market's uptrend. — VNA/VNS Photo The Vietnamese stock market recovered on stronger demand force after recent corrections, while foreign investors continued to withdraw from main exchanges. The VN-Index on the Hồ Chí Minh Stock Exchange increased over 14.6 points, or 1.21 per cent, to close Wednesday at 1,266.11 points. The recovery helped recoup most of the losses hit in the last two sessions. On the southern bourse, breadth of the market returned to a positive zone with 275 stocks advancing, while 52 ended lower. Liquidity decreased over the previous session, but remained above VNĐ20 trillion. Particularly, VNĐ20.37 trillion (US$838.25 million) worth of shares was traded on HoSE, equal to more than 878 million shares. The index's reversal was mainly driven by strong rebounds in real estate stocks and other pillars in the securities … [Read more...] about Market rebounds, ending two-day losing streak

The index closed 1.4 points lower after gaining 15.9 points Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dropped 12.6% to VND15.9 trillion ($651.77 million). The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers fell. SSB of Southeast Asia Commercial Bank (SeABank) dropped 4.8% and STB of Ho Chi Minh City-based lender Sacombank fell 3.3%. VRE of retail real estate arm Vincom Retail closed 2.5% lower and SAB of brewer Sabeco declined by 2.3%. Ten blue chips gained, led by PLX of fuel distributor Petrolimex with a 3.3% increase. Foreign investors were net sellers to the tune of VND509 billion, mainly selling STB of Ho Chi Minh City-based lender Sacombank and GMD of logistics company Gemadept Corp. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.57% while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.33%. … [Read more...] about Stock market stable after strong changes

A customer performing a transaction at Vietinbank's office in Hà Nội. The lender's shares tumbled 5.85 per cent on Monday, weighing on the market sentiment. — VNA/VNS Photo Shares fell deeply on Monday as the strong selling force weighed on all industries, with many large-cap stocks hitting floor prices. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) extended last week's bearish trend to the third straight day. It plunged 39.85 points, or 3.34 per cent, to 1,153.2 points. Last week, the index lost 2.8 per cent. The breadth of the market was negative, with decliners surpassing gainers on the southern bourse. Particularly, up to 311 ticker symbols tumbled, of which 110 stocks logged the biggest daily loss of 7 per cent, while only 34 inched up. Liquidity also fell sharply from the previous session, down 27.1 per cent to nearly VNĐ23.5 trillion. This was equal to a trading volume of nearly 1.1 billion shares. The VN30-Index, tracking the 30 biggest … [Read more...] about Market extends downtrend, VN-Index loses nearly 40 points

On September 27, the State Bank of Vietnam (SBV) withdrew VND20 trillion ($844 million) from the system, though continued to offer 28-day treasury bills, meaning that this amount will be pumped back in on October 25. This is the fifth consecutive session of 28-day bill issuance, with a total approximating VND70 trillion ($2.95 billion) offered for sale through interest rate auctions. In fact, during the period from February to March this year, the SBV continuously withdrew money through bill issuances. In February alone, net withdrawals over two weeks touched $5.9 billion, and the SBV injected money again at the end of the period. Last year, the SBV also withdrew $2.95 billion in one week. Therefore, the recent bill issuance did not cause much surprise for market observers. Tran Thi Khanh Hien, head of research at MB Securities, stated that the central bank is carefully striving to maintain the natural evolution of exchange rates as other regional currencies have … [Read more...] about Central bank keeps close eye on forex market movements

Kim Dooyoon, CEO of JB Securities Vietnam What is your assessment of the financial landscape of the country, and how have you seized opportunities? In the last three years living and working in Vietnam, I have found that for Vietnamese business, the main source of financing is mostly from banks, and the capital markets are in the early stage compared to peer countries in Asia. As Vietnam's economy grows fast compared to other countries, I expect that its capital markets will also grow to meet the funding needs from the industries, based on my experience and study in Korea and the US. With this expectation, I have decided to focus on the debt capital market first since I joined JB Securities Vietnam (JBSV) three years ago. In particular, in the last two years, JBSV has advised corporate bond issuances and made commitments to invest more than 1 trillion VND. Thanks to our strong financial analytical skills and advanced risk management scheme on the bonds, JBSV has been … [Read more...] about JB Securities strives to contribute to development of Vietnam’s capital markets

A worker in dairy firm Vinamilk (VNM)'s factory. VNM lost 2.3 per cent on THursday. — Photo VNM Vietnamese shares failed to maintain their upward trend on Thursday due to overwhelming selling pressure. The benchmark index declined 0.12 per cent to end at 1,152.43 points. It had closed Wednesday day at 1,153.85 points, an increase of 1.4 per cent. Liquidity declined with over 691 million shares, worth over VNĐ15.8 trillion (US$647.8 million), traded on the southern bourse, down 19 per cent in volume and 13 per cent in value compared to Wednesday’s trading. Overall market conditions were negative, with 211 gainers and 282 losers, while another 59 closed unchanged. Large-cap stocks were hit by profit-taking. Tracking the southern bourse’s largest stocks by capitalisation and liquidity, the VN30-Index lost 0.36 per cent to end at 1,164.45 points. In the VN30 basket, market breadth was also negative with 10 gainers and 18 losers. Most bank stocks fell, causing the overall … [Read more...] about Shares fail to maintain uptrend on selling pressure

Customers at VNDirect Securities Co (VND). VND dropped 6.85 per cent last week. — Photo VNDirect The market is forecast to witness slower momentum in the near future as it awaits positive factors, such as the growth of the macro-economy, prosperous production, and business activities of enterprises, before forming a more specific trend. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed on Friday at 1,154.15 points, up 1.72 points, or 0.15 per cent. It had lost 3.26 per cent the previous week. “The market continues to maintain a recovery pace, but in general, developments still show caution as the market rallies, as shown by the decreasing liquidity to low levels. Low liquidity also indicates that temporary supply pressure has not put much pressure on the market,” said Việt Dragon Securities Co. “With the state of supply and demand exploration yielding unclear results, it is likely that the market will fluctuate in the range of 1,150 - 1,165 points in the early … [Read more...] about Shares to wait for supportive information

Vincom Metropolis shopping centre in Hà Nội, developed by Vincom Retail (VRE). VRE lost 3 per cent yesterday. — Photo VRE The Vietnamese stock market ended Tuesday lower, extending losses for the second straight session. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,137.96 points, a decrease of 1.32 per cent. More than 1 billion shares were traded on the southern exchange, worth VNĐ21.6 trillion (US$884 million). The market's breadth inclined to a bearish zone with more stocks declining. Of which, 317 stocks of the main exchange dropped in the trading session, while there were 180 stocks rising. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, posted a loss of 0.57 per cent, to 1,153.37 points. In the VN30 basket, up to 9 stocks added points, while 19 ended lower and two were flat. Leading the market's downtrend on Tuesday was Vingroup (VIC). Shares of the property developer fell 3.2 per cent. The other two members in … [Read more...] about Shares decline for second straight session