Blue chips lift the market

Viet Nam’s derivatives market will start official operations on August 10 with the VN30-Index futures contract set to launch first. — Photo vietstock.vn Viet Nam’s derivatives market will start official operations on August 10 with the VN30-Index futures contract set to launch first. This was stated by Pham Hong Son, vice chairman of the State Securities Commission, at a press conference on today. In Viet Nam, the current law allows three types of derivative products -- futures contracts of shares indexes with the VN30-Index and HNX30-Index as underlying assets, and five-year Government bond future contracts. The VN30-Index and HNX30-Index capture the performance of the top 30 largest stocks on the HCM and Ha Noi stock exchanges in terms of market value and liquidity. Derivative is a security with price that is dependent upon or derived from one or more underlying assets. According to the Prime Minister’s direction, since the derivatives market is new and under trial, the VN30 futures contract will be launched first to limit risks, while the HNX30 and Government bond futures will be introduced later, Son said. He said the VN30 adequately covers the largest large-cap companies on the HCM Stock Exchange. The most important factor for the derivatives market is margin lending. In the derivatives market, an investor must make the deposit in cash or shares at the Vietnam Securities Depository and at market trade members (securities companies) before a transaction takes place. The…... [read more]

Saigon Securities Inc is the largest listed securities firm with the market cap at US$573 million. — Photo ssi.com.vn Viet Nam’s booming stock market, recognised as one of the best performers in the world, has raised the value of many securities firms. The benchmark VN Index on the HCM Stock Exchange has gained 18.6 per cent since the beginning of this year. On the Ha Noi Stock Exchange, the HNX Index has climbed 27.2 per cent in the same period. Shares of securities companies have been on the investors’ favourite list, and many firms have seen their value doubling, and even tripling, in the first seven months of 2017. This impressive growth is largely owing to the companies’ positive business results. As of August 4, the market value of 11 securities companies has exceed VND1 trillion (US$44 million). The top four companies in the country are Saigon Securities Inc (SSI), Viet Capital Securities JSC (VCI), HCM Securities Corp (HCM) and VNDirect Securities JSC (VND). SSI, valued around VND13 trillion ($573 million), is the largest securities firm across all indicators, including charter capital, revenue and profit. Its share prices have climbed 30 per cent this year, and on Friday they were at VND26,400 per share, which is lower than its peak of VND28,600 a share on July 6. Viet Capital Securities made its debut on the southern bourse on July 7, and has already joined the trillion-dong club at a…... [read more]

The Saigon Securities Inc (SSI) is optimistic that the casino industry in Vietnam will thrive when the locals are allowed to gamble.     A casino in Singapore  According to the Institute of Regional Sustainable Development, the 2014 revenue from eight casinos in Vietnam reached nearly VND1.38trn and the government collected VND336bn (USD14.7m) from taxes. Donaco International Ltd from Australia made a profit of USD3.7m from over 40 gambling tables. The casinos wholly depend on foreign gamblers and the biggest profits are from the Chinese. Crowne Casino in Danang City is well known for its VIP Chinese clients. During peak season, 130 direct flights bring clients from China to Danang every week. However, this source of clients is not stable. According to Bloomberg, the casino ban for locals causes Vietnam to lose USD800m a year to other countries. The situation may get better after the government lifted the ban this March, despite strict regulations are applied for the locals such as a copy of personal income tax declaration to prove that their monthly income is VND10m (USD440). However, the plan to let locals play in casinos hasn't been implemented as the Ministry of Finance hasn't issued any directives. The on-going Vingroup casino project in Phu Quoc is expecting to attract 1.8 million visitors this year. But Vingroup hasn't announced any detail about the projects including the operators and machines. Meanwhile, Sun Group also has plans to invest in a resort complex in Van Don, Quang Ninh Province. Ha Ton Vinh,…... [read more]

The benchmark VN-Index failed to conquer the short-term resistance point of 790 for a second day on August 4 (Photo: VNA) Hanoi (VNA) – The benchmark VN-Index failed to conquer the short-term resistance point of 790 for a second day on August 4, dragged down by bank stocks, while growth of many large-cap stocks supported the market. The key index on the HCM Stock Exchange inched up just 0.02 percent to close at 788.68 points. It has risen 1.5 percent for the week. On the Hanoi Stock Exchange, the HNX-Index increased 0.49 percent to end at 101.94 points. The northern market index expanded 1.4 percent this week. Shares of securities and energy firms pushed the market up. Most brokerage companies gained value, of which Saigon-Hanoi Securities Co (SHS) and Vietinbank Securities Co (CTS) were the biggest gainers with growth of 7.8 percent and 5.1 percent, respectively. The biggest listed securities firm Saigon Securities Inc (SSI) picked up over 1.7 percent. Positive performers also included big businesses in the oil and gas sector, including PetroVietnam Drilling Wells Service (PVD), PetroVietnam Technical Service (PVS) and PetroVietnam Drilling Mud (PVC) climbing between 5.6 percent and 3 percent each. However, bank stocks which were the driving force of the previous rally were on the defensive and restrained the market’s uptrend. Only Sacombank (STB) recovered from a three-day slump after the bank’s two ex-bankers were arrested, up 3.3 percent to settle at 12,700 VND (56…... [read more]

An investor traces market swings. Vietnamese shares rose slightly on Friday. — VNS Photo Doan Tung The benchmark VN-Index failed to conquer the short-term resistance point of 790 for a second day on Friday, dragged down by bank stocks, while growth of many large-cap stocks supported the market. The key index on the HCM Stock Exchange inched up just 0.02 per cent to close at 788.68 points. It has risen 1.5 per cent for the week. On the Ha Noi Stock Exchange, the HNX-Index increased 0.49 per cent to end at 101.94 points. The northern market index expanded 1.4 per cent this week. Shares of securities and energy firms pushed the market up. Most brokerage companies gained value, of which Sai Gon-Ha Noi Securities Co (SHS) and Vietinbank Securities Co (CTS) were the biggest gainers with growth of 7.8 per cent and 5.1 per cent, respectively. The biggest listed securities firm Saigon Securities Inc (SSI) picked up over 1.7 per cent. Positive performers also included big businesses in the oil and gas sector, including PetroVietnam Drilling Wells Service (PVD), PetroVietnam Technical Service (PVS) and PetroVietnam Drilling Mud (PVC) climbing between 5.6 per cent and 3 per cent each. However, bank stocks which were the driving force of the previous rally were on the defensive and restrained the market’s uptrend. Only Sacombank (STB) recovered from a three-day slump after the bank’s two ex-bankers were arrested, up 3.3 per cent to…... [read more]

Traders at the Saigon Securities Inc office in Ha Noi. — VNS Photo Doan Tung Shares rose stronger in Monday afternoon trading as bank stocks accelerated their growth on the back of positive first-half business earnings. On the HCM Stock Exchange, the VN-Index surpassed the latest nine-year peak recorded on July 6, hitting 783.48 points, a rally of 0.82 per cent over Friday’s close. The benchmark index expanded 2 per cent last week. On the Ha Noi Stock Exchange, the HNX-Index increased 0.63 per cent to end at 101.18. The northern market index gained 2.6 per cent in the previous week. “The risk of a short-term sharp decline was significantly diminished. Large-cap stocks, especially bank stocks, are supporting the indices’ uptrend,” said Tran Hai Yen, a stock analyst at Bao Viet Securities Co (BVSC). Banks were the biggest gainers yesterday, with an average growth of 2.33 per cent, data on vietstock.vn showed. Seven of nine listed banks gained value, with two of the three largest banks by market value, BIDV (BID) and Vietinbank (CTG), increasing 5.7 per cent and 4.6 per cent, respectively. The largest lender, Vietcombank (VCB), edged up 0.7 per cent. According to BVSC’s report, Vietcombank is the most profitable bank with pre-provision operating profit of VND5.05 trillion (US$224.7 million) by the end of June, up 20.5 per cent year-on-year and fulfilling 54 per cent of its yearly target. BIDV also recorded positive earnings with pre-tax…... [read more]

Shares rose stronger in Monday afternoon trading as bank stocks accelerated their growth on the back of positive first-half business earnings. Traders at the Saigon Securities Inc office in Ha Noi. - VNS Photo Doan Tung On the HCM Stock Exchange, the VN-Index surpassed the latest nine-year peak recorded on July 6, hitting 783.48 points, a rally of 0.82 per cent over Friday’s close. The benchmark index expanded 2 per cent last week. On the Ha Noi Stock Exchange, the HNX-Index increased 0.63 per cent to end at 101.18. The northern market index gained 2.6 per cent in the previous week. “The risk of a short-term sharp decline was significantly diminished. Large-cap stocks, especially bank stocks, are supporting the indices’ uptrend,” said Tran Hai Yen, a stock analyst at Bao Viet Securities Co (BVSC). Banks were the biggest gainers yesterday, with an average growth of 2.33 per cent, data on vietstock.vn showed. Seven of nine listed banks gained value, with two of the three largest banks by market value, BIDV (BID) and Vietinbank (CTG), increasing 5.7 per cent and 4.6 per cent, respectively. The largest lender, Vietcombank (VCB), edged up 0.7 per cent. According to BVSC’s report, Vietcombank is the most profitable bank with pre-provision operating profit of VND5.05 trillion (US$224.7 million) by the end of June, up 20.5 per cent year-on-year and fulfilling 54 per cent of its yearly…... [read more]

The VN Index on the HCM Stock Exchange fell 0.31 percent to close at 771.50 points. It gained 1.8 percent total over the previous two sessions. More than 202.3 million shares worth a total of VND3.58 trillion (US$159 million) were traded on the southern bourse. The southern exchange was pulled down by profit-taking pressure in large-cap stocks, which saw their prices advance in the previous sessions. In the VN30 Index, which tracks the performance of 30 largest companies by market capitalisation, decliners outnumbered gainers by 22 to seven. Declining stocks fell down between 0.1 percent and 2.8 percent. The stock market on Thursday had a correction after it had gained for two consecutive sessions, BIDV Securities (BSC) wrote in its daily report. The market saw its trading liquidity slightly decrease from Wednesday, and the correction made most large-cap stocks in the steel, energy and banking industries fall, as investors withdrew their money from those sectors, BSC said. The stock market in the next session will move within a narrow margin, the brokerage said, adding that money will flow in and out large-cap stocks on their high liquidity and security, as investors will be cautious with their investments until the market trend becomes clearer. “The VN Index will test the level of 780 points in coming sessions.” The worst decliners on Thursday included PetroVietnam Gas (GAS), Sacombank (STB), steel producer Hoa Phat Group (HPG) and DHG Pharmaceutical Co (DHG). GAS and HPG dropped 1.1 percent each. GAS had increased by…... [read more]

Chairman Nguyen Duy Hung said preparations were under way and he expected the fund to have fewer than 10 members. “It will be experimental; therefore we target a scale of around US$20 million,” he told the English-language daily Vietnam News during his company’s recent ninth anniversary ceremony, where SSI also unveiled its new logo symbolising the Cuu Long (nine dragons), or Mekong River. Beginning operations in 2000 with a charter capital of US$333,0000, the SSI has since expanded its capital to US$83 million, the biggest of any securities company in Vietnam. Its activities have also expanded to include investment banking, fund management, investment, and research services. It holds 15 percent of the HCM City securities market and 7 percent of the Hanoi market. Forty percent of foreign investors in Vietnam have accounts with the firm. Earlier this month it received the Best Broker in Vietnam 2009 and Best Equity House in Vietnam 2009 awards from the Hong Kong-based magazine, FinanceAsia.... [read more]

Mr Smith suggested that the rate could be even higher if Vietnam’s neighbours in the region maintained positive GDP growth rates. The forecast came even as inflationary pressure has been rising in Vietnam, foreign investment has fallen, credit agencies have downgraded the domestic currency, and monetary and foreign exchange policies have been in flux. These were temporary problems that would not impact investor decisions, Smith said, adding that Vietnam remained the investment destination with the highest potential in the region. Since 2005, ANZ has held a 10 percent stake in Sacombank, one of the leading commercial banks in Vietnam in terms of charter capital and total assets. It also held a stake of over 17 percent in Saigon Securities Inc. Smith’s visit aimed to outline a new regionally-based strategy in the countries of the Greater Mekong region, including Vietnam, Cambodia, and Laos. ANZ planned to expand retail banking services with a focus on affluent clients in emerging markets. VNS... [read more]




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