Stock

The results of 2020 business and 2021 outlook support the rise of bank stocks Ending the last session of February, the VN-Index stood at 1,168.47 points, corresponding to an increase of 111.86 points (10.59 per cent) compared to the previous month. The HNX-Index increased by 35.01 points (16.3 per cent) to 249.22 points. The UPCoM-Index also increased 4.56 points (6.33 per cent) to 76.64 points. Large-cap stocks recovered well in February as only the NVL ticker of Novaland decreased by 0.7 per cent. Meanwhile, as many as 14 other stocks in this group increased by over 15 per cent. The shares of VPBank (VPB), rose the most among the top 30 by market capitalisation with over 33 per cent. Following that, Thaiholdings (THD) also increased by 26 per cent and was a key factor helping the HNX-Index continue to break out recently. February was also a good month for banking stocks as, besides VPB, the stocks of Vietnam International Commercial Joint Stock Bank (VIB), Asia Bank (ACB), Techcombank (TCB), or Vietinbank (CTG) also increased by over 20 per cent. Particularly, the last trading week of February recorded a rise in most bank stocks. At the price of VND33,000 ($1.44), Asia Commercial Bank (ACB) was the strongest increase with nearly 9 per cent. Military Bank (MBB) led in liquidity with nearly 72.1 million shares. Military Bank shares closed the morning session at VND28,200 ($1.23) a share. Vietnam Prosperity Bank (VPB) reached VND40,800 ($1.77) while Techcombank (TCB) reached VND40,200 ($1.75), Vietnam International Bank (VIB) hit VND43,200 ($1.88) a shares, and HCMC Development Bank (HDB) increased to VND26,200 ($1.14) per share. Notably, LienViet Post Bank (LPB) hit the ceiling price on March 1, recording liquidity of over 36 million shares and closing the session of March 2 at VND16,100 (70 US cents) a share. PYN Elite Fund said that the VN-Index can completely increase to 1,800 points in 2022 with favourable macroeconomic factors, including high GDP …

[Read more...] about Bank stocks rising on back of bright prospects

Cancelations and modifications accounted for over 33 percent of orders last month, according to data from the exchange. But investors are unhappy with the proposal for obvious reasons. Another solution the exchange is considering to deal with its chronic overload is increasing the minimum price increment to "reduce the number of transactions." But to do this, it needs to bring over experts from Thailand to modify the system source code, which was written by them, a difficult task since no one wants to be quarantined for two weeks in Vietnam and another two weeks in Thailand on return. Le Hai Tra, CEO of HoSE, said a new trading system would be tested over the next four months or so. The exchange has also received approval from the State Securities Commission of Vietnam to move some of its stocks to the Hanoi Stock Exchange (HNX), home to small and mid-cap companies. But no company has yet volunteered to make the switch. …

[Read more...] about Stock exchange considers halt to cancelation, modification of orders

Ticker VCA of steel producer VICASA – VNSteel, based in the southern province of Dong Nai, will be listed on March 10 with 15.18 million shares at VND13,100 ($0.57) each. Textile company Tien Son Thanh Hoa (AAT) will be listed on March 24 with nearly 35 million shares at VND10,600 each. On the same day, 1.2 billion SSB shares of SeaBank will be listed at VND16,800 each. With the new listing, the main bourse will see its total market cap increase by VND20.8 trillion ($902.76 million). The listings are expected to create more pressure on HoSE’s 20-year-old system which has suffered frequent overloads due to a surge in the number of investors. A number of tickers on HoSE are set to be temporarily moved to the Hanoi Stock Exchange (HNX) while the former works to upgrade its system, which could take until the end of the year. HoSE has also proposed that the minimum trading lot be increased from 100 to 1,000 to reduce the number of transactions. Since the beginning of the year HoSE has listed 10 new stocks, accounting for a third of the total last year. …

[Read more...] about HoSE to list 1.2 billion new shares this month