After the continuous increase of stock prices in the last two weeks, the securities index consecutively set up new records and marked a new "fever" in the Vietnamese financial market. On the Ho Chi Minh City Securities Trading Center (HSTC), PGC stocks of the Petrolimex Gas benefited from the hot increase with its unexpected "debuting price" on the last session of the week, an investor at the floor of the ACB Securities Company (ACBS) said. At the Ha Noi Securities Trading Center (HASTC), VND900 billion in par value of BCC stocks of the Bim Son Cement Joint-Stock Company was the proof that a "fever" of registered stock volume was being brought to the exchanges in the last months of the year. Currently, HSTC and HASTC bourse have listed 75 types of stocks, one fund certificate and hundreds of bond codes. The share market alone has achieved the total capital size of VND16.5 trillion and the market value is estimated at more than VND103 trillion, equivalent to US$6.5 billion, 12 … [Read more...] about Stock Prices Continuously Soaring
Smc trading investment joint stock company
SMC opens steel plant in city
SMC opens steel plant in city Kinh Luan By Kinh Luan - The Saigon Times Daily HCMC – SMC Trading Investment Joint Stock Company on Wednesday opened SMC Tan Tao Coil Center, a steel outsourcing plant in HCMC’s Tan Tao Industrial Park, to meet the demand of customers in the sectors of shipbuilding and steel structure production. Covering 12.5 hectares, the plant worth VND175 billion has a capacity of 80,000 tons of steel per year. Together with two smaller plants in Ba Ria-Vung Tau and Hanoi, SMC’s total steel volume supplied for customers this year will amount to nearly 700,000 tons, according to Nguyen Ngoc Anh, chairman and CEO of SMC. With such figure, SMC has entered the group of leading steel production and trading firms in Vietnam. SMC Tan Tao is equipped with two steel cutting lines imported from Taiwan. Modern equipment and machines at the plant enable SMC to cut a steel roll into rectangular plates or smaller plates to meet various demands of customers … [Read more...] about SMC opens steel plant in city
Stocks take another hammering
The Ho Chi Minh City stock market plunged to a 17-month low as it took another hammering Tuesday with the benchmark VN-Index losing 4.2 percent to close at 608.88. The index has slumped 34 percent this year as the government puts in place measures to drain liquidity from the banking system by raising banks' reserve ratio in February and telling lenders they will have to buy VND20.3 trillion (US$1.3 billion) in bills this month. … [Read more...] about Stocks take another hammering
Vietnam stocks resume rally
A strong rebound in the US stock market combined with news that the State Capital Investment Corporation (SCIC) will open trading accounts with brokerages helped Vietnam's stock market recover slightly Wednesday. US stocks roared back after the Federal Reserve said it would pump US$200 billion into the financial system to shore up banks battered by mortgage-related losses. … [Read more...] about Vietnam stocks resume rally
Stocks regain ground after three days of tumbling
The Ho Chi Minh City Stock Exchange roared back on Friday after three days of tumbling, with the VN-Index gaining 19.78 points, or 4.72 percent, to close at 439.06. The benchmark index of the 160 leading firms and four closed-end funds listed on the exchange lost more than 12 percent after three falling days as investors reacted anxiously with the U.S. financial turmoil. “The crisis in the U.S. investment banking firms like Lehman Brothers and AIG were resolved, calming sentiment on the local marketplace,” said one dealer in HCMC, adding the Thursday’s heavy buying by foreign investors contributed to today’s rally. Trading volume reached 23.4 million shares. All but only one members of the index moved up, with 159 rising by the trading limit of 5 percent. Minh Phu Seafood Joint-Stock Co. (MPC), gained for the first time in nine days, climbing VND700, or 4.9 percent, to close at VND15,000 (US$0.90). Nguyen Tan Anh, deputy general director of the company, … [Read more...] about Stocks regain ground after three days of tumbling