After two days of falling, the stock market reversed course today thanks to the sharp rise in value and trading volume of Saigon Securities (SSI) and Sacombank (STB) stocks at the beginning of the session, helping push up the VN-Index by 5.68 points to close at 977.17. SSI has always ranked among the top blue chips since it was moved from Ha Noi to the Ho Chi Minh Stock Exchange. Stock buyers were interested in SSI and STB stocks because of their high transparency. The sudden hike in prices and traded shares of the two stocks made investors scramble for other stocks, for they apparently believed the market was recovering. The market closed with 65 stocks making decent gains and only 17 shedding weight, while some 100 stocks lost value yesterday. The large number of sell orders at the end of the session restrained many stocks from rising further.STB climbed by only VND1,000 with one million shares changing hands. Over 500,000 SSI shares were matched and raised in price by VND2,000 by … [Read more...] about Stock Market Bounces Back Slightly thanks to SSI, STB
Stock market bounce
The Ho Chi Minh Stock Exchange rebounded on Thursday as investors found share prices fall to attractive level after the two sharply falling days earlier. The VN-Index, Vietnam's main stock index, advanced 3.91 points, or 1.14 percent, to close at 346.24. Trading volume reached 16.2 million shares worth VND631 billion. Of the index's 167 members, 88 rose and 41 fell. Hang Xanh Motor Service Joint-Stock Co. (HAX) climbed VND700, or 4.8 percent, to close at VND15,400. The shares slid 17 percent in the previous four sessions. Four board members of the HCMC-based company, including the general director, registered to buy a total of 110,000 shares, to boost their holdings to 360,436 shares, within six months, the company said in a statement posted on the bourse after the market closed yesterday. Sieu Thanh Joint-Stock Co. (ST8) rose VND1,200, or 4.8 percent, to close at VND26,200. Vice Chairwoman Pham Thi Mai Duyen registered to buy 314,017 shares until December 6 to increase her … [Read more...] about Stock market bounces back after two sharp falls
The Vietnamese stock market slightly recovered from a three-straight-sessions-long slump on Wednesday. The market rebound came after analysts declared stocks were being undervalued, which could further attract investors back. "Investors returned to buy shares on speculation that values were attractive enough," said FPT Securities on its daily market news today. HoSE's VN-Index rose 1.01 points, or 0.21 per cent, to 478.45 points with the majority of stocks rising after being driven up by just three shares - MSN, BVH and VIC - throughout previous sessions. Trading valuation significantly increased to VND1.19 trillion ($59.35 million), up 45.31 per cent while volume rose 16.34 per cent to 41.2 million shares. Financial stocks also turned heads with Sai Gon Securities (SSI) adding 1.72 per cent, Sacombank and Eximbank both gaining over 1.3 per cent. SSI also outperformed the bourse in terms of liquidity with nearly 1.8 million shares changing hands. Bao Viet Holding … [Read more...] about Stock Market bounces back
The Ho Chi Minh City Stock Exchange (HOSE) bounced back Wednesday as if it hadn't missed a beat during Tuesday's dramatic fall. The VN-Index gained 20.16 points on the day to close at 993.75. The Ho Chi Minh City and Hanoi stock markets bounced back yesterday … [Read more...] about Stock market back on track
VietNamNet Bridge - The sickly stock market has been testing stock investors' patience for many months. Other stock markets have recovered but when will Vietnam's stock market bounce back? Becoming shareholders of the enterprise which is leading Vietnam's gas industry, the key industry in Vietnam's national economy which decides the development of other industries such as power, fertilizer and steel, is really the dream of many investors. Andy Ho, Investment Director of VinaCapital, said that becoming the "owners" of state-owned general corporations is a golden opportunity which does not come regularly. … [Read more...] about Stock market: are there any opportunities for long term investments?