Real estate leads

The index started off strong with a gain of nearly 10 points in the morning to hit the 1,990 range and stayed in the green mostly before plunging in the afternoon and closing with a 0.44-point increase, its fourth gaining session in a row. Trading volume on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, fell 4.7 percent to VND15.22 trillion ($659.5 million). The bourse saw 227 stocks gain and 190 lose. The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 12 tickers gain, led by TPB of private TPBank, up 6.3 percent to a new all-time high of VND29,750. The ticker has surged 8.8 percent in the last three sessions. HDB of HDBank followed with a 3.5 percent gain. But unlike other private banking blue chips, the ticker has not been able to climb back to this year’s peak that it reached on January 15. It is still 4.5 percent away. VRE of retail real estate arm Vincom Retail gained 1.3 percent, and HPG of steelmaker Hoa Phat Group rose 1.1 percent to another new peak of VND46,700. VJC of budget airline Vietjet rounded off the top five with a 1.1 percent gain to its highest price since January last year, showing that it is now approaching pre-pandemic figures after going through major slumps in March and July last year. On the losing side, GAS of the state-owned PetroVietnam Gas Jsc had a 1 percent fall, followed by MBB of Military Bank, down 0.9 percent and POW of electricity distributor PetroVietnam Power Corporation, down 0.8 percent. Foreign investors were net sellers for the eighth session in a row to the tune of VND731 billion, highest in the last 11 sessions. Selling pressures were strongest on VNM of dairy giant Vinamilk, HPG and MSN of conglomerate Masan Group. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 1.76 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market gained 0.4 percent. …

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The next-generation of billionaires’ families own trillions of dong worth of stocks and run large businesses. Do Huu Duy Anh of Duc Giang Chemicals (left) The successor of Duc Giang Chemicals Do Huu Duy Anh works for his family-run company, Duc Giang Chemicals Group JSC. Before studying abroad, Anh was sent by his father to the factory in Long Bien district in Hanoi to work as a construction worker. Returning to Vietnam, he became the assistant to the CEO and two years later became deputy CEO of the company at the age of 25. He took the office as CEO of Duc Giang six years later. Now Anh, 33, holds VND300 billion worth of shares. Anh said it is unreasonable to consider Duc Giang a family-run company, because it lists shares on the bourse. Only the president and CEO are family members, while factory directors are not. The son of US dollar female billionaire In 2019, Tommy Nguyen, the son of Nguyen Thi Phuong Thao, the only female billionaire in Vietnam, became the co-founder of Swift 247, a technology startup operating in the field of logistics and forwarding. When he was at school, he decided to ‘do something different’ regarding the mode of transport in the Vietnamese market. He found that Prime Amazon could ship goods in 29 states in the US within two days, while there were many problems in logistics services in Vietnam and Asia in the context of the e-commerce boom. That was why his startup was established. In September 2020, Vietjet announced the restructuring and development of cargo transport by air using digital technology and e-commerce via an M&A between Vietjetair Cargo and Swift247. In November 2020, Swift247 changed its business registration with charter capital of VND47 billion. The company shifted from a limited company into a joint stock company. Vietjet is the shareholder with controlling stake (67 percent of capital). Young banker owns trillions of dong ACB shares have seen prices increase by VND4,300 per …

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Largecap stocks recover, driving main index up The Saigon Times An employee of a securities firm monitors stock information on the computer screen. The VN-Index of the Hochiminh Stock Exchange managed to reverse course to end higher today, March 2 – PHOTO: VNA HCMC – The VN-Index of the Hochiminh Stock Exchange managed to reverse course to end slightly higher today, March 2, buoyed by a number of large-cap stocks that bounced back at the end of the session. Trading in the local market was busy in the morning but started slowing down in the afternoon as investors were concerned that a technical error would continue to clog trade when market turnover had remained high. Closing the session, with 227 advancers and 190 decliners, the benchmark index added 0.44 point, or 0.04% over the session earlier at 1,186.35. Turnover of the HCMC market dropped over 10% in volume and 5% in value at over 577 million shares and more than VND15 trillion, including around VND1.4 trillion worth of shares traded in block deals. Many largecaps in the VN30 basket not only maintained growth but also rose sharply at the close, such as steelmaker HPG, lenders TPB and HDB, retailer VRE. Of them, TPB was the most outstanding performer as it surged 6.3% with over 17.1 million shares changing hands. HPG inched up 1.1% and led the southern bourse by liquidity, with a matching volume of 23.67 million shares. Regarding the performance of stocks by sectors, bank stocks including STB, TPB, TCB, LPB, and HDB were the major cash magnets, followed by brokerages SSI and HCM, fertilizer producers DCM, BFC, and DPM. Meanwhile, real estate, construction and fuel stocks bucked the market trend and ended in negative territory. On the northern bourse, the increased profit-taking dampened the HNX-Index, sending it down 4.43 points, or 1.76% against Monday at 247.94, with 98 winners and 174 losers. Nearly 120 million shares worth over VND2 trillion were transacted on the Hanoi market, …

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