Masan

The inauguration of the first Joins Pro professional laundry shop in HCM City’s Binh Thanh District on May 12. — Photo courtesy of Masan Joins Pro Professional Laundry Co., Ltd, a subsidiary of Masan Group, opened its first shop in HCM City’s Binh Thanh District, marking a milestone in its parent’s goal of becoming the leading laundry chain in Viet Nam. It offers services ranging from basic (washing and drying, and washing and ironing) to higher (dry cleaning, expensive cloth cleaning, bleaching, and fabric softening), along with home pickup and delivery. It said it uses European machinery to optimise energy usage and fabric protection, and environment-friendly Joins detergents. It uses wet cleaning machines in place of the traditional dry laundry. Tran Thi Thanh Van of Joins Pro laundry said: "With the positive signals from the market and an increasing demand from people, we believe that this is the perfect time to enter the laundry service market that does not yet have a … [Read more...] about Masan opens first Joins Pro professional laundry shop

Many blue-chip stocks are at attractive price ranges for investment A significant increase On May 17, Vietnam's stock market had a breakthrough session, reaching the highest point globally with the VN-Index rising by more than 56 points (+4.8 per cent) and crossing the threshold of 1200 points. All key stocks in the VN-30 group gained, in which many codes in the banking, consumer, and retail sectors grew strongly. The Masan shares of billionaire Nguyen Dang Quang increased to their limit of VND96,500 ($4.20) per share, with nearly 1.6 million units transferred. Foreign investors bought more than 500 thousand. This is a major breakthrough for the consumer-and-retail giant as other stocks have been on a downward trend over the past weeks. This is in line with the declining trend worldwide and pressure from local retail investors to sell-off. However, the demand from institutional investors for large and industry-leading stocks showed signs of strong growth. A … [Read more...] about Vietnamese stocks see world-leading growth

The benchmark VN-Index has lost 17.5 percent since the end of March, with most blue chips hitting year lows. Tran Dinh Long, chairman of steel giant Hoa Phat, saw his net worth decline by 22 percent to $2.5 billion, mirroring the turbulence of his company’s stock. In March, the Hoa Phat share peaked at VND51,000 but then began to fall. At the close Thursday, it traded at VND37,900, down 26 percent. The net worth of three other billionaires, Vietjet CEO Nguyen Thi Phuong Thao, Techcombank chairman Ho Hung Anh and Masan Group chairman Nguyen Dang Quang, fell by over 10 percent or $200-400 million. Prices of their companies’ stocks, VJC of Vietjet, TCB of Techcombank and MSN of Masan, have fallen by 10-25 percent since the end of March. Vietnam’s richest person, Pham Nhat Vuong, chairman of the country’s largest conglomerate, Vingroup, saw his net worth erode by 200 million, or 3 percent. Tran Ba Duong, chairman of automaker Thaco, has become $100 million poorer. Nova … [Read more...] about Vietnam’s 7 richest people lose $2 bln amid stock market plunge

The index started off in the green but gradually declined throughout the day and closed with a near 11-point drop, marking its third straight losing session. It has closed lower in six out of nine recent sessions, losing over 194 points this month. Trading on the Ho Chi Minh Stock Exchange, on which the index is based, fell by 28.4 percent to VND14.58 trillion ($631.3 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 16 tickers gain, led by SSI of leading brokerage SSI Securities with a 5.8 percent rise. It was followed by PLX of fuel distributor Petrolimex, up 4.7 percent, and VRE of Vingroup's mall operator subsidiary Vincom Retail, up 3.8 percent. TPB of private lender TPBank gained 3.3 percent, and CTG of state-owned lender VietinBank rose 2.7 percent. Eleven blue chips fell, with MSN of conglomerate Masan Group and STB of HCMC-based lender Sacombank hitting floor prices and losing 6.9 percent. Other losers included BVH of insurance company … [Read more...] about VN-Index extends losses with last-minute sell-off

A bank employee counting a pile of Vietnamese banknotes at Vietcombank’s branch. The bank’s shares rebounded strongly on Monday, cushioning the market’s losses. — Photo kinhtedothi.vn Benchmark indices were mixed on Monday as rising selling pressure in the afternoon session weighed on the market’s sentiment. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed the morning course to fall further on Monday. It dropped 10.82 points, or 0.91 per cent, to 1,171.95 points. It recovered some losses in the morning trade on bottom-fishing demand. Last week, the index had lost more than 11 per cent due to strong sell-off activities. The market’s breadth was still positive as 232 stocks climbed, while 224 stocks declined. Liquidity decreased sharply over the last trading day, with nearly 584.4 million shares traded on the southern bourse, worth VND14.6 trillion (US$631.3 million). The index extended the downtrend as the rising selling force outweighed the … [Read more...] about Market mixed on persistent strong selling force

The index stayed in the red for the first trading hour but started climbing to close 56.42 points higher. But it has fallen by 9 percent compared to the beginning of May after closing in the red for six out of ten sessions since. Trading value on the Ho Chi Minh Stock Exchange, on which the index is based, fell marginally to VND14.3 trillion ($618.6 million). The VN-30 basket, comprising the 30 largest capped stocks, saw all tickers gaining with 13 of them closing at ceiling price. BID of state-owned lender BIDV, FPT of IT giant FPT group, MSN of conglomerate Masan Group and MWG of electronics retailer Mobile World all rose by 7 percent. BVH of insurance company Bao Viet Holdings, CTG of VietinBank, and GVR of Vietnam Rubber Group gained 6.9 percent. Foreign investors turned net sellers after two straight buying sessions, to the tune of VND27.76 billion. They mainly sold HPG of steelmaker Hoa Phat, SSI of leading brokerage SSI Securities and STB of HCMC-based lender … [Read more...] about One-third main bourse stocks hit ceiling price

A bank employee counting a pile of Vietnamese banknotes at Vietcombank’s branch. The bank’s shares rebounded strongly on Monday, cushioning the market’s losses. Photo kinhtedothi.vn The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed the morning course to fall further on Monday. It dropped 10.82 points, or 0.91 per cent, to 1,171.95 points. It recovered some losses in the morning trade on bottom-fishing demand. Last week, the index had lost more than 11 per cent due to strong sell-off activities. The market’s breadth was still positive as 232 stocks climbed, while 224 stocks declined. Liquidity decreased sharply over the last trading day, with nearly 584.4 million shares traded on the southern bourse, worth VND14.6 trillion (US$631.3 million). The index extended the downtrend as the rising selling force outweighed the bargain-hunting demand. The 30 biggest stocks tracker VN30-Index plunged by 8.68 points, or 0.71 per cent, to 1,215.08 points. In the … [Read more...] about Market mixed on persistent strong selling force

Masan's workers on a fish sauce production line. MSN stocks hit ceiling prices on Tuesday. — Photo kinhtedothi.vn Benchmark indices were riding high on Tuesday as optimistic sentiment lifted stocks across the board. The market’s breadth was skewed in favour of bulls with advancers outnumbering decliners by 806 to 133. On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index surged by 56.42 points, or 4.81 per cent, to reach 1,228.37 points. The market’s liquidity was lower than the previous session with 543 million of stocks traded on the southern bourse, equivalent to around VND13.3 trillion (US$575 million). According to analysts, many holders revoked their selling orders amid strong buying forces, leading to tight supply and soaring prices. Notably, the 30 biggest stock tracker VN30-Index gained 64.47 points, or 5.31 per cent, to end at 1,279.55 points. In the basket, 17 stocks climbed and 13 hit ceiling prices. “VN-Index saw a lot of red on the screen in … [Read more...] about Market riding high thanks to tight supply

The index stayed in the green for most of the day and closed 12 points higher at 1,240.76 points, extending the recovery streak started Tuesday with a record 4.81 percent gain. Trading on the Ho Chi Minh Stock Exchange fell marginally to VND13.84 trillion, a five-session low. The VN-30 basket, comprising the 30 largest capped stocks, saw 13 tickers dropped, led by TPB of private lender TPBank and SAB of brewer Sabeco. They both closed 2.4 percent lower. PDR of real estate developer Phat Dat dropped 2.1 percent, and FPT of IT giant FPT lost 2 percent. Other losers included VJC of budget airline Vietjet, down 1.8 percent, and SSI of leading brokerage SSI Securities, down 1.7 percent. Ten blue chips closed in the green, with MSN of conglomerate Masan Group and STB of HCMC-based Sacombank closing at ceiling price for the second straight session, gaining 6.9 percent. GAS of Petrovietnam Gas rose 4.06 percent, and TCB of private lender Techcombank climbed 3.4 percent. … [Read more...] about VN-Index extends recovery streak

LNG storage project at the PV Gas Vung Tau terminal. The company's shares surged more than 4 per cent on Wednesday, supporting the rally trend. — Photo pvgas.com.vn The market was mixed on Wednesday, with the VN-Index extending gains as investors' sentiment continued to improve. On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index rose 12.39 points, or 1.01 per cent, to 1,240.76 points. It recouped more than 4.8 per cent in the previous session after recent strong sell-offs. The market's breadth was positive with 271 stocks climbing, of which 17 stocks hit ceiling prices, while 178 stocks declined. Liquidity did not fluctuate much over on Wednesday, as 566.3 million shares were traded on the southern bourse, worth over VND13.84 trillion (US$598.1 million). The index's rallies were driven by sharp gains in some large-cap stocks, especially in manufacturing, realty and banking sectors. The VN30-Index, which tracks the 30 biggest stocks on HoSE, jumped by 6.86 … [Read more...] about VN-Index continues to rebound on improved sentiment