Banking recovery lifts VN-Index

Bank stocks strengthened during Friday’s afternoon trade which rescued the VN-Index from another fall as investor sentiment remained fragile. Investors at the Vietcombank Securities Ltd. office in Ha Noi. - VNA/VNS Tuan Anh The benchmark VN-Index on the HCM Stock Exchange edged up 0.18 per cent to close Friday’s session at 768.97 points. It decreased 0.8 per cent on Thursday. Banks led the market rebound with five of seven listed lenders on the southern market advancing. Eximbank (EIB) rose by the daily maximum rate of 7 per cent, settling at 6.6 per cent to VND12,050 a share. BIDV (BID), the third largest listed bank by market value, increased 2.9 per cent, while the two biggest lenders – Vietcombank (VCB) and Vietinbank (CTG) – picked up by less than 1 per cent each. VPBank (VPB) which debuted on Thursday with 1.33 million shares dropped 4.6 per cent at VND37,200 a share and was no longer the most expensive bank share. Meanwhile, Sacombank (STB) edged down 0.8 per cent. Many heavyweight shares in the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City’s exchange) also advanced and supported the market, including steelmakers Hoa Phat Group (HPG), Hoa Sen Group (HSG), food-beverage firms like Vinamilk (VNM) and Kido Group (KDC), and real estate developers like FLC Faros Construction (ROS), Novaland Investment Group (NVL) and Kinh Bac City Development…... [read more]

While banks recovered, many other large-cap stocks remained in the red. — Photo money.usnews.com The benchmark VN Index on the HCM Stock Exchange extended losses on Friday morning, sliding down 0.2 per cent to 766.1 points. While banks recovered, many other large-cap stocks remained in the red. Five of the seven listed lenders in the southern market advanced, but their growth was negligible at less than 1 per cent, except Eximbank (EIB), which climbed 6.6 per cent to VND11,950 a share. Around 20 million shares of Eximbank changed hands on Friday morning through the negotiation method for VND210 billion (US$9.3 million). VPBank (VPB), which made its debut on Thursday with 1.33 million shares, dropped 2.3 per cent, while Sacombank (STB) slipped 0.4 per cent. Many of the heavyweights in the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City exchange) slumped, including PV Gas (GAS), VinGroup (VCI), Sabeco (SAB), Bao Viet Holdings (BVH), FPT Corp (FPT) and PetroVietnam Drilling and Wells Service (PVD). On the positive side, Vinamilk (VNM), FLC Faros Construction (ROS), Hoa Phat Group and Saigon Securities Inc (SSI) gained. On the Ha Noi Stock Exchange, the HNX Index also inched down 0.1 per cent to 100.38 points. A total of 160.3 million shares worth a combined VND2.4 trillion ($105.3 million) were traded in the two markets. The afternoon session starts at 1pm. – VNS ... [read more]

Saigon Securities Inc (SSI) exchange in Hanoi (Photo: VNA) Hanoi (VNS/VNA) - Local markets were fragile on August 17 after gains in a day earlier, with both indices falling on weakening investor sentiment. The benchmark VN-Index on the HCM Stock Exchange fell 0.77 percent to close August 17's session at 767.59 points. The southern market index increased 0.33 percent in the previous session. On the Hanoi Stock Exchange, the HNX-Index also edged down 1.23 percent to end at 100.49 points. The northern market index rose 0.44 percent on August 16.   Large-cap stocks continued to impact the market heavily as 24 of the 30 largest shares by market value and liquidity on the HCM Stock Exchange declined and only six advanced. Shares of most sectors were under high selling pressure, including banks, steelmakers, energy, construction and real estate companies. Except the Vietnam Prosperity Commercial Joint Stock Bank (VPB) which closed flat on its first trading session on August 17, all other six listed lenders on HCM City’s exchange dropped between 0.5 percent and 6.6 percent. VPBank on August 17 began to trade its entire 1.33 billion shares on the HCM Stock Exchange at a reference price of 39,000 VND (1.72 USD) a share. VPB dropped to 33,000 in the morning session but recovered and settled at 39,000 VND by the end of its first trading day, the most expensive bank share on the market. More than 58 million VPB shares…... [read more]

Saigon Securities Inc (SSI) exchange in Ha Noi. — VNA/VNS Photo Doan Tung Local markets were fragile on Thursday after gains in a day earlier, with both indices falling on weakening investor sentiment. The benchmark VN-Index on the HCM Stock Exchange fell 0.77 per cent to close Thursday’s session at 767.59 points. The southern market index increased 0.33 per cent in the previous session. On the Ha Noi Stock Exchange, the HNX-Index also edged down 1.23 per cent to end at 100.49 points. The northern market index rose 0.44 per cent on Wednesday. Large-cap stocks continued to impact the market heavily as 24 of the 30 largest shares by market value and liquidity on the HCM Stock Exchange declined and only six advanced. Shares of most sectors were under high selling pressure, including banks, steelmakers, energy, construction and real estate companies. Except Viet Nam Prosperity Commercial Joint Stock Bank (VPB) which closed flat on its first trading session on Thursday, all other six listed lenders on HCM City’s exchange dropped between 0.5 per cent and 6.6 per cent. VPBank on Thursday began to trade its entire 1.33 billion shares on the HCM Stock Exchange at a reference price of VND39,000 (US$1.72) a share. VPB dropped to VND33,000 in the morning session but recovered and settled at VND39,000 by the end of its first trading day, the most expensive bank share on the market. More than 58 million VPB shares…... [read more]

The benchmark VN Index on the HCM Stock Exchange extended losses on Friday morning, sliding down 0.2 per cent to 766.1 points. While banks recovered, many other large-cap stocks remained in the red. - Photo money.usnews.com While banks recovered, many other large-cap stocks remained in the red. Five of the seven listed lenders in the southern market advanced, but their growth was negligible at less than 1 per cent, except Eximbank (EIB), which climbed 6.6 per cent to VND11,950 a share. Around 20 million shares of Eximbank changed hands on Friday morning through the negotiation method for VND210 billion (US$9.3 million). VPBank (VPB), which made its debut on Thursday with 1.33 million shares, dropped 2.3 per cent, while Sacombank (STB) slipped 0.4 per cent. Many of the heavyweights in the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City exchange) slumped, including PV Gas (GAS), VinGroup (VCI), Sabeco (SAB), Bao Viet Holdings (BVH), FPT Corp (FPT) and PetroVietnam Drilling and Wells Service (PVD). On the positive side, Vinamilk (VNM), FLC Faros Construction (ROS), Hoa Phat Group and Saigon Securities Inc (SSI) gained. On the Ha Noi Stock Exchange, the HNX Index also inched down 0.1 per cent to 100.38 points. A total of 160.3 million shares worth a combined VND2.4 trillion ($105.3 million) were traded in the two markets. The afternoon…... [read more]

Customers make transactions at the VPBank Head Office (Photo: VNA)   Hanoi (VNA) - The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) started listing 1.3 billion shares on the Ho Chi Minh Stock Exchange on August 17, while having received 1.2 billion USD worth of purchasing offers from foreign investors. Both VPBank and Viet Capital Securities Company (VCSC) had approached more than 80 foreign investors, and most of the investors made pre-listing buying offers for the bank’s shares at the price of 39,000 VND (1.73 USD), according to To Hai, director of VCSC. Hai said at VPBank’s pre-listing seminar on August 15 that the value of foreign investors’ pre-listing purchasing offers might be a historical milestone for Vietnam’s banking sector, even in the golden age of commercial banks in 2007, and it would be hard to repeat a similar-valued deal in the future.   [VPBank increases its charter capital to 14 trillion VND]   “When we were building the book value for VPBank’s shares, we recognised that foreign investors were willing to pay even higher at 44,000 VND per share,” he said, referring to the fact that VPBank was quite attractive to foreign investors at the moment. The bank was valued at least 2 billion USD when valuation of the bank’s shares started in March 2016, Hai added. It was also the time when the benchmark VN Index on the HCM Stock Exchange was around 600 points. The bank is now valued at 2.3 billion USD…... [read more]

Shares slipped on Thursday morning after major heavyweight shares lost value on rising investor caution. — Photo tinnhanhchungkhoan.vn Shares slipped on Thursday morning after major heavyweight shares lost value on rising investor caution. The benchmark VN Index on the HCM Stock Exchange reversed Wednesday’s gain, slipping by 0.2 per cent to close at 772.3 points. Large-cap stocks slumped, with 17 of the top 30 largest shares by market value and liquidity declining; only eight advanced. Financial stocks, including banks, securities firms and insurers, were also on the defensive side. Major losers include Vietcombank (VCB), Vietinbank (CTG), BIDV (BID), Military Bank (MBB), Bao Viet Holdings (BVH) and Saigon Securities Inc (SSI). Steel shares, which buoyed the market on Wednesday, also fell on Thursday morning, with the two biggest listed steel firms, Hoa Phat Group (HPG) and Hoa Sen Group (HSG), going down by 1.2 per cent and 1.4 per cent, respectively. On the positive side, food-beverage stocks such as Vinamilk (VNM) and brewery Sabeco (SAB) supported the market. On the Ha Noi Stock Exchange, the HNX Index went down 0.5 per cent to 101.24 points. Liquidity soared, with a total of 170 million shares worth VND4 trillion (US$176.2 million) being traded, up 45.3 per cent in volume and 111 per cent in value compared to Wednesday morning’s trade. The afternoon session starts at 1pm. — VNS ... [read more]

Shares slipped on Thursday morning after major heavyweight shares lost value on rising investor caution. Shares slipped on Thursday morning after major heavyweight shares lost value on rising investor caution. The benchmark VN Index on the HCM Stock Exchange reversed Wednesday’s gain, slipping by 0.2 per cent to close at 772.3 points. Large-cap stocks slumped, with 17 of the top 30 largest shares by market value and liquidity declining; only eight advanced. Financial stocks, including banks, securities firms and insurers, were also on the defensive side. Major losers include Vietcombank (VCB), Vietinbank (CTG), BIDV (BID), Military Bank (MBB), Bao Viet Holdings (BVH) and Saigon Securities Inc (SSI). Steel shares, which buoyed the market on Wednesday, also fell on Thursday morning, with the two biggest listed steel firms, Hoa Phat Group (HPG) and Hoa Sen Group (HSG), going down by 1.2 per cent and 1.4 per cent, respectively. On the positive side, food-beverage stocks such as Vinamilk (VNM) and brewery Sabeco (SAB) supported the market. On the Ha Noi Stock Exchange, the HNX Index went down 0.5 per cent to 101.24 points. Liquidity soared, with a total of 170 million shares worth VND4 trillion (US$176.2 million) being traded, up 45.3 per cent in volume and 111 per cent in value compared to Wednesday morning’s trade. The afternoon session starts at 1pm. Source VNA ... [read more]

Customers make transactions at the VPBank Head Office. — VNA/VNS Photo Tran Viet The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) will start listing 1.3 billion shares on the HCM Stock Exchange on Thursday, while having received US$1.2 billion worth of purchasing offers from foreign investors. Both VPBank and Viet Capital Securities Company (VCSC) had approached more than 80 foreign investors, and most of the investors made pre-listing buying offers for the bank’s shares at the price of VND39,000 ($1.73), according to To Hai, director of VCSC. Hai said at VPBank’s pre-listing seminar on Tuesday that the value of foreign investors’ pre-listing purchasing offers might be a historical milestone for Viet Nam’s banking sector, even in the golden age of commercial banks in 2007, and it would be hard to repeat a similar-valued deal in the future. “When we were building the book value for VPBank’s shares, we recognised that foreign investors were willing to pay even higher at VND44,000 per share,” he said, referring to the fact that VPBank was quite attractive to foreign investors at the moment. The bank was valued at least $2 billion when valuation of the bank’s shares started in March 2016, Hai added. It was also the time when the benchmark VN Index on the HCM Stock Exchange was around 600 points. The bank is now valued at $2.3 billion on the starting trade price of VND39,000 per share, making it one of the top 10…... [read more]

Stock trading at MB Securities Company. — VNS Photo Truong Vi Shares recovered from morning losses on Wednesday, with large-cap stocks, especially steel and fertiliser shares, leading the way. On the HCM Stock Exchange, the VN-Index edged up 0.33 per cent to close at 773.57 points. The key southern market index went down 0.66 per cent on Tuesday. On the Ha Noi Stock Exchange, the HNX-Index picked up 0.44 per cent to end at 101.74 points. It inched down 0.2 per cent in the previous session. Capital flows yesterday focused on the steel, fertiliser and construction sectors. The two biggest listed steelmakers – Hoa Phat Group (HPG) and Hoa Sen Group (HSG) – increased 2.2 per cent and 1.5 per cent, respectively. Other small steel firms such as Nam Kim Steel (NKG), Vietnam-Italy Steel (VIS) and Tien Len Steel (TLH) rose between 0.4 per cent and 1.4 per cent each. Big companies in the fertiliser and construction industries such as PetroVietnam Fertiliser and Chemicals (DPM), Ca Mau Fertiliser (DCM), FLC Faros Construction (ROS) and Coteccons Construction (CTD) also rallied. Other large-cap stocks supporting the market included PV Gas (GAS), Masan Group (MSN), brewery Sabeco (SAB), insurer Bao Viet Holdings (BVH) and Mobile World Group (MWG). On the negative side, banks weighed the market down. Losers included BIDV (BID), Vietinbank (CTG) and Military Bank (MBB), three of the four largest listed lenders by market value. According to FPT Securities…... [read more]




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