Shares weaken on poor investor sentiment

Vietnamese shares fell for a third session in both local markets yesterday, driven down by securities firms, energy companies and property developers. Investors at ACB Securities Company. - VNS Photo Truong Vi The benchmark VN-Index on the HCM Stock Exchange dropped 0.28 per cent to close at 759.74 points. It had fallen total 1.2 per cent in the previous two sessions. The HNX-Index on the Ha Noi Stock Exchange declined by 1.05 per cent to end at 96.93 points, posting a total three-day loss of 1.9 per cent. The two local indices lost over 2 per cent and 2.5 per cent for the whole previous trading week. More than 219.8 million shares were traded on both local bourses, worth VND3.53 trillion (US$157 million). Monday’s trading figures were also the lowest in the last three months. Foreign investors remained net buyers, posting a net buy value of VND178.3 billion, an increase of 277 per cent from Friday. Investor selling to gain profits in most of the penny and small-cap stocks was the major factor that pulled the market down, BIDV Securities wrote in its daily report. A part of the profits went back into bank stocks and blue chips, helping them advance, while most of the profits were kept as cash, proving that investors were taking a wait-and-see attitude, BSC added. The stock market was driven down by stocks in the…... [read more]

The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings. (Photo: dautuchungkhoan.vn) Hanoi (VNA) - The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts said. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost over 2 percent last week with four falling sessions and only one mid-week rising trade. The key index closed on July 21 at 761.86 points, down 2.7 percent from the nine-year peak of 782.665 seen on July 6. On the Hanoi Stock Exchange, the HNX-Index slumped 2.5 percent for the whole week, ending at 97.96 points on July 21. “The market seems to be exhausted and faces risks of downward corrections. However, the speed of fall last week was quite strong and fast, negatively impacting investors’ psychology,” said Nguyen Huu Binh, leading analyst at Vietnam Investment Securities Co, told tinnhanhchungkhoan.vn. But this could also be a sign that the market will soon retreat to the strong support threshold of 740-750 points, Binh said. All shares, including large-caps, medium-caps and penny stocks, performed badly last week with a majority of stocks falling across the two exchanges’ electronic boards. The shares weighing down the market most included PV Gas (GAS), Vinamilk (VNM), big banks like Vietcombank (VCB), BIDV (BID), Vietinbank…... [read more]

The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts say.– Photo dautuchungkhoan The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts say. The benchmark VN-Index on the HCM Stock Exchange lost over 2 per cent last week with four falling sessions and only one mid-week rising trade. The key index closed Friday at 761.86 points, down 2.7 per cent from the nine-year peak of 782.665 seen on July 6. On the Ha Noi Stock Exchange, the HNX-Index slumped 2.5 per cent for the whole week, ending at 97.96 points on Friday. “The market seems to be exhausted and faces risks of downward corrections. However, the speed of fall last week was quite strong and fast, negatively impacting investors’ psychology,” said Nguyen Huu Binh, leading analyst at Vietnam Investment Securities Co, told tinnhanhchungkhoan.vn. But this could also be a sign that the market will soon retreat to the strong support threshold of 740-750 points, Binh said. All shares, including large-caps, medium-caps and penny stocks, performed badly last week with a majority of stocks falling across the two exchanges’ electronic boards. The shares weighing down the market most included PV Gas (GAS), Vinamilk (VNM), big banks like Vietcombank (VCB), BIDV (BID), Vietinbank…... [read more]

The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts say. The local stock market is set to experience another week of corrections but the decrease will likely slow down with divergence based on the results of second-quarter earnings, analysts say. The benchmark VN-Index on the HCM Stock Exchange lost over 2 per cent last week with four falling sessions and only one mid-week rising trade. The key index closed Friday at 761.86 points, down 2.7 per cent from the nine-year peak of 782.665 seen on July 6. On the Ha Noi Stock Exchange, the HNX-Index slumped 2.5 per cent for the whole week, ending at 97.96 points on Friday. “The market seems to be exhausted and faces risks of downward corrections. However, the speed of fall last week was quite strong and fast, negatively impacting investors’ psychology,” said Nguyen Huu Binh, leading analyst at Vietnam Investment Securities Co, told tinnhanhchungkhoan.vn. But this could also be a sign that the market will soon retreat to the strong support threshold of 740-750 points, Binh said. All shares, including large-caps, medium-caps and penny stocks, performed badly last week with a majority of stocks falling across the two exchanges’ electronic boards. The shares weighing down the market most included PV Gas (GAS), Vinamilk (VNM), big…... [read more]

Issues pegged as sticking points, such as market access for agricultural goods and patent protections for medicines, were continuing to block the deal after four days of discussions. This could have a negative impact on Vietnam's stock market this week, especially on shares of exporting companies. "There is a considerable risk to shares of exporters in early sessions this week, as investors had high hopes for a successful conclusion of the deal at the end of last week," Tran Duc Anh, analyst from Bao Viet Securities Co., wrote in a report. Exporting shares gained substantial values on expectations of the signing of the TPP deal. Textile and garment shares rose over 3 per cent, on average, last week, including Thanh Cong Textile Garment Investment Trading (TCM), Mirae (KMR), Garmex Saigon (GMC) and TNG Investment and Trading (TNG). Wood producers, including Truong Thanh Furniture (TTF), and seafood exporters such as Hung Vuong Corp (HVG), Vinh Hoan Corp (VHC) and Ben Tre Aquaproduct Import and Export Co (ABT), also advanced strongly. However, overall performance of the two markets was poor last week with the two indices losing values while liquidity went down. Blue chips were the main drag, as growing momentum of the previous rallies, including banks, securities companies, and oil and gas shares, all declined. With three falling sessions out of five, the VN-Index on the HCM Stock Exchange lost a cumulative 1.61% to close Friday at 621.06 points, while the VN30, which tracks the top 30 shares by market value…... [read more]

Hanoi (VNA) – The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) will start trading with code BHN on the HCM Stock Exchange (HOSE) on January 19, the southern bourse has announced. Habeco will list its entire 231.8 million shares, equivalent to the total listing value of nearly 2.32 trillion VND (103 million USD), at the reference price of 127,600 VND (5.65 USD) per share, the bourse said in a statement. The share price is allowed to fluctuate /-20 per cent on the first trading day. Shares of the North’s largest brewer are trading at some 128,000 VND per share on the Unlisted Public Company Market (UPCoM), which is under the management of the Hanoi Stock Exchange. HCM City’s exchange on December 30, 2016, approved the company’s filing to move its listing from the UPCoM to HOSE. By changing its listing to HOSE, which is the main bourse in Vietnam, with total market capitalisation of some 68 billion USD, Habeco is expected to improve its reputation and draw more investments. The company has become a ‘phenomenon’ on the UPCoM since its debut on October 28 last year, when its price shot from an initial 39,000 VND per share to a peak of 225,800 VND per share on December 16. Headquartered in Hanoi, it is the largest beer producer in the North and the third-largest beer company in Vietnam, with popular brands such as Hanoi Beer and Truc Bach Beer. It owns 17 subsidiaries and six affiliated companies, with total…... [read more]

HÀ NỘI - The VN Index, Việt Nam's benchmark stock index, could fall back to the 675-680 range if it fails to reach 690-692 points, according to analysts and securities firms. The HCM Stock Exchange's index on Friday dropped 0.3 per cent to finish at 685.06 points, extending losses for a second day. However, the southern market index finished 0.8 per cent higher than the previous week's closing. The HNX Index on the Hà Nội Stock Exchange increased very slightly to close at 83.34 points, ending Friday with a weekly gain of 1.5 per cent. Meanwhile, market trading liquidity fell from the previous trading week. An average of 127 million shares was traded in each session, a week-on-week decrease of 4.7 per cent. Daily trading value inched down 0.3 per cent to nearly VNĐ2.52 trillion (US$112 million). "Investors made some attempts to lift the stock indices on Friday morning, however, when they realised the VN Index could not reach the resistance range of 690-692 points, they increased selling during the afternoon trading session, resulting in the VN Index closing lower than Thursday's level," said Châu Thiên Trúc Quỳnh, Viet Capital Securities' head of brokerage division. The benchmark would make attempts to test the resistance level again, but it could fall back to the support range of 675-680 points if it fails, she said, adding that market trading will remain weak from now until the Tết Lunar New Year, as investors focus on earning profits and converting those profits into cash…... [read more]

Chairman of the Municipal People’s Committee Le Hoang Quan delivered the invitation to the Lord Mayor of the City of London, Michael Bear, during their meeting on March 23. “The City of London is an ideal model and has a lot of valuable experience that HCM City can learn from,” the municipal official said. Quan proposed the City of London help with the training of financial personnel for HCM City, specifically for the HCM Stock Exchange and banks. He reiterated HCM City’s policy of attracting individual investors and providing them with every favourable condition possible for partnerships and business activities. Lord Mayor Bear said the British Government has laid stress on elevating the UK-Vietnam ties to a new height, giving due care to public-private partnerships and financial cooperation. He affirmed that with its experience and within its capacity, the City of London will assist HCM City to expand the stock market’s operational scope and build its financial centre. The City of London is ready to help HCM City train personnel in financial and securities fields and develop urban infrastructure, Bear noted. During the visit to Vietnam’s major economic hub, the Lord Mayor held working sessions with the municipal investment promotion centre and the British business community.... [read more]

HVG also announced over VND12.3 trillion (US$546.6 million) in net revenue and a profit before tax of VND151 billion (US$6.7 million) in its annual shareholder meeting on January 29. Established in 2003, the corporation processes and exports fishery products. It also produces animal feed and operates cold storage plants in Vietnam and Russia. Minh said that though 2015 profits had decreased, it was connected to the profit downtrend on the global market, and the demand for domestic exports of fisheries products was still high. He added his group is developing well, while forecasting that the market will be better this year, and he will be ready to take the chance. HVG targeted a revenue of VND24 trillion (nearly US$1.1 billion) and a profit after tax of VND500 billion (US$222.2 million) this year. The group also planned exports of VND11-VND13 trillion in 2016, of which fish exports are VND4.4-VND5.5 trillion, and shrimp exports are VND6.7-VND7.78 trillion. It also expected to produce 1.5 million tonnes of animal feed in 2016 and 2.5 million tonnes in 2018. Minh said the Russian company, which registered VND333.45 billion last year in after-tax profits, was a leading company in the Russian market. It imported and distributed many fisheries products from 18 markets around the world. He said that due to the economic difficulties, the Russian people tend to consume cheaper quality fish, thus there is an opportunity for the catfish exporters from Vietnam to sell tra and basa fish in the market. Meanwhile, the Russian company…... [read more]

Viet Nam News HÀ NỘI - Hà Nội Beer Alcohol and Beverage Joint Stock Corporation (Habeco) will start trading with code BHN on the HCM Stock Exchange (HOSE) on January 19, the southern bourse announced on Wednesday. Habeco will list its entire 231.8 million shares, equivalent to the total listing value of nearly VNĐ2.32 trillion (US$103 million), at the reference price of VNĐ127,600 ($5.65) per share, the bourse said in a statement. The share price is allowed to fluctuate +/-20 per cent on the first trading day. Shares of the North's largest brewer are trading at some VNĐ128,000 per share on the Unlisted Public Company Market (UPCoM), which is under the management of the Hà Nội Stock Exchange. HCM City's exchange on December 30, 2016, approved the company's filing to move its listing from the UPCoM to HOSE. By changing its listing to HOSE, which is the main bourse in Việt Nam, with total market capitalisation of some $68 billion, Habeco is expected to improve its reputation and draw more investments. The company has become a 'phenomenon' on the UPCoM since its debut on October 28 last year, when its price shot from an initial VNĐ39,000 per share to a peak of VNĐ225,800 per share on December 16. Headquartered in Hà Nội, it is the largest beer producer in the North and the third-largest beer company in Việt Nam, with popular brands such as Hanoi Beer and Truc Bach Beer. It owns 17 subsidiaries and six affiliated companies, with total…... [read more]




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