VietNamNet Bridge - If everything goes smoothly, the Vietnam stock market may be upgraded to an emerging market by 2020. Vietnam hopes its stock market would be upgraded to an emerging market by 2020 The Saigon Securities Incorporated (SSI) March financial and monetary report showed that the stock market scale has grown rapidly with value reaching $191 billion by the end of the first quarter of 2018, equal to 95 percent of 2016 GDP, an increase of 24.7 percent compared with the end of 2017. The scale is approximate to that of the UAE stock market ($245 billion), the Philippines ($270 billion), and higher than that of many emerging markets, including Qatar ($131 billion), Pakistan ($82 billion) and Egypt ($58 billion). The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in comparison with the average level of 2017. The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in … [Read more...] about Stock market expected to be upgraded to emerging by 2020
Stock market
Vietnam stock market plunges nearly 4 pct to two-month low
Body Vietnam stocks plummeted nearly 4 percent on Monday, extending a market rout after a near 7 percent decline over the last two weeks, while most other stock markets in the region slipped as U.S. bond yields rose to a multi-year peak. The Vietnam index, the only double-digit percentage gainer in Southeast Asia this year as of Friday's close, marked broad-based losses, led by financials and energy stocks. Vietcombank and Petrovietnam Gas Joint Stock Corp each ended 6.9 percent lower. Most other Southeast Asian stock markets slipped, in line with broader Asia, as U.S. 10-Year treasury yields hit 2.968 percent, their highest since January 2014, a jump widely seen as a technical shift in the market following a large selloff of bonds. The Thai index shed 0.6 percent as energy and financial stocks fell. Oil and gas company PTT Pcl closed 2.7 percent lower while financial services provider, … [Read more...] about Vietnam stock market plunges nearly 4 pct to two-month low
Vietnam’s stock market posts highest gain in Asia
Driven by an improving economy and foreign investment giants, Vietnam’s stock exchange has outperformed the rest of Asia so far this year. The benchmark VN-Index has risen around 17 percent since January, outpacing Asia’s main share benchmarks, and the market has more than doubled over the past two years, the Financial Times reported on Wednesday. The VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, closed at 1,150 on Tuesday. Vietnam has become a fertile land for foreign investors, the Financial Times cited analysts as saying. Foreign firms that have set up factories in Vietnam over the past decade are now contributing to its improved trade balance, including Intel and Samsung, they said, adding that Vietnam's bright economic prospects have contributed to the stock market's success. Vietnam’s economy grew 7.38 percent in the first quarter of this year, the highest rate in a decade thanks to … [Read more...] about Vietnam’s stock market posts highest gain in Asia
Green colour dominates stock market as April starts
Investors watch stock price changes at the Vietcombank Securities Company (Photo: VNA) Hanoi (VNA) – The stock market started the first week of April with green colour dominating large-cap stocks and those in banking and real estate in both bourses. The benchmark VN-Index picked up 22.15 points to close at 1,196.61 points on April 2, the highest since the stock market of Vietnam was launched, when more than 245.7 million shares were sold for about 8.04 trillion VND (353 million USD) on the HCM Stock Exchange (HOSE). The bourse saw gaining stocks outnumbered the declining ones by 155 to 140 while 42 others ended flat. On the Hanoi Stock Exchange (HNX), the HNX-Index edged up 2.94 points, closing at 135.40 points after some 52 million of shares, worth 937.5 billion VND (41.15 million USD), were traded on the bourse. There were 72 gainers and 77 losers while 62 others ended flat. The large-cap stocks experienced strong gains with the VN30 advancing 18.13 points. Among 20 … [Read more...] about Green colour dominates stock market as April starts
Vietnamese stock market breaks 11-year record
Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate stocks, while most other Southeast Asian markets started April on a sombre note. The benchmark Vietnam index rose as much as 1.1 percent to an all-time high of 1,187.55, and has risen more than 20 percent so far this year following a 48 percent gain last year. Real estate firm Vingroup JSC climbed as much as 1.8 percent to a new high and was the biggest contributor to the main index's gain. On March 22, Vietnam's stock market rose by 0.92 percent y to close at more than 1,180 points, the highest since the record of 1.179 points set in 2007. Philippine shares were little changed in choppy trade with financials being the top losers. The decline in the financials was due to the pricing of the rights issue of Bank of the Philippine Islands, said Eagle Equities President Joseph Roxas. Bank of the Philippine Islands priced its rights issue at 89.5 pesos per share, a 23.5 percent discount to … [Read more...] about Vietnamese stock market breaks 11-year record