A worker collects latex at a rubber plantation of Vietnam Rubber Group. The group's shares jumped more than 4.6 per cent yesterday, leading the market's uptrend. — VNA/VNS Photo Benchmark indices ticked higher on Monday, buoyed by gains in manufacturing stocks and the return of foreign investors. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index extended rallies to the second straight day. The index rose 1.1 points, or 0.1 per cent, to 1,155.25 points. It recovered on Friday with a slight increase of 0.15 per cent, but lost nearly 3.3 per cent for the week. The stock market has dipped for three consecutive weeks and recorded the longest weekly losing streak since the beginning of the year. The index was down 8 per cent from the peak of 1,250 points but some groups have witnessed sharp falls such as securities, real estate, and public investment stocks. The market has shown signs of rebalance and recovery in the last sessions, however low liquidity is an obstacle to breach … [Read more...] about Market extends gains on manufacturing stocks
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VN-Index gains marginally
The index closed 1.1 points higher after rising 1.7 points Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dropped 18% to VND11.5 trillion ($473.25 million). The VN30 basket, comprising the 30 largest capped stocks, saw 16 tickers gained. GVR of Vietnam Rubber Group led with a 4.6% increase, followed by VRE of retail real estate arm Vincom Retail, up 2.9%. VNM of dairy giant Vinamilk rose 1.9% and MSN of conglomerate Masan Group closed 1.4% higher. Twelve blue chips fell. TPB of private TPBank dropped 2% and GAS of state-owned Petrovietnam Gas closed 1.5% lower. Foreign investors were net sellers to the tune of VPB of private lender VPBank and VIC of private conglomerate Vingroup. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.18% while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.10%. … [Read more...] about VN-Index gains marginally
FTSE keeps VN on watch for reclassification to secondary emerging market
Digital board showing stock information inside the building of the Hồ Chí Minh Stock Exchange (HoSE). — VNA/VNS Photo Việt Nam is still on the watch list of FTSE Russel for a possible reclassification from frontier to secondary emerging market status, the global index provider FTSE Russel said in its September report. However, the opportunity for the stock market’s upgrade may become clearer next year. The country has been on the watch since 2018. FTSE Russel said that Việt Nam’s reform progress is slower than expected, partly due to the COVID-19 pandemic. Việt Nam has yet to meet the delivery versus payment (DvP) criterion, which is currently rated as ‘Restricted’ due to the market practice of conducting a pre-trading check to ensure the availability of funds prior to trade execution, FTSE Russel said. Meanwhile, as the market does not experience failed trades, the ‘settlement - costs associated with failed trades’ criterion is unrated. It added that Việt Nam would need … [Read more...] about FTSE keeps VN on watch for reclassification to secondary emerging market
A land of promise for Thai investors
What have been some successful stories involving your members thus far in Vietnam? Tharabodee Serng-Adichaiwit, vice chairman of the Thai Chamber of Commerce in Vietnam Thailand has become the ninth-biggest foreign direct investment of Vietnam with nearly 690 projects and $13 billion so far. While Thai investment properly kicked off in the early 1990s here, Bangkok Bank started investment in Vietnam way back in 1961 with its first branch in the former Saigon. We believe that with the growing potential of Vietnam itself and our continuous promotion to Thai investors, one day Thai investment could enter the top five. This will also to help the two countries to achieve the bilateral trade goal of $25 billion by 2025, and ultimately bring our two countries closer in sub-regional, regional, and multinational cooperation. Most big Thai conglomerates already have a presence in Vietnam, such as C.P., SCG, Bangkok Bank, IVL, Red Bull, and more. Thai investment is also … [Read more...] about A land of promise for Thai investors