Energy stocks push VN Index to nine-year high

Longer morning stock market hours aim to promote liquidity (16-05-2009) HA NOI — Stock market trading hours will be extended by 15 minutes in the morning from next month following the State Securities Commission approval. The longer trading hours will help activate transactions and promote market liquidity, commission Market Development Department head Nguyen Son said. The commission is working with stock exchanges and the securities depository centre to revise the capacity of technical and payment systems for the longer trading hours, Son said. Previously, the commission planned to lengthen the trading hours to the whole afternoon which would have helped investors catch up with what was happening in the world market, he said. "But the extra session needed more advancing technical and payment systems which take time to get working well." In the attempt to promote investment activities in equity market, the commission submitted a draft on a trading method to the Ministry of Finance in which it allowed investors to open more than one account and sell or buy in the same session. At present, an investor has only one account open in one securities firm and each investor is allowed to sell or buy shares in a single session. — VNS... [read more]

The Republic of Korea (RoK) has surpassed the US, the European Union and ASEAN for the first time to become Vietnam’s second-largest trade partner, after China. Seafood products are processed at Ngo Quyen Seafood Processing Joint Stock Company in Kien Giang province for export to Japan, the RoK, Australia and Europe According to the General Department of Vietnam Customs, in the first half of this year, trade value between Vietnam and the RoK reached 29.12 billion, accounting for 14.7 percent of total national trade value, of which export value from Vietnam to the RoK stood at 6.57 billion USD while import value from the RoK to Vietnam was 22.56 billion USD. That import value with strong growth at 51.2 percent year-on-year made Vietnam’s trade deficit with the RoK increase to 15.99 billion USD, higher than its trade deficit with China at 13.72 billion USD. The Ministry of Planning and Investment said these figures showed that Vietnam had promoted imports from the RoK and that country, therefore, became the second largest goods supplier of Vietnam, after China. Vietnam mainly imported machines and equipment from the RoK for RoK investors’ factories to produce export goods in Vietnam. Nguyen Duc Thanh, Director of the Vietnam Institute for Economic and Policy Research, said this development and current structure of import and export goods reflected the trend of dependence on trade of some large RoK enterprises, especially Samsung. Some 15 billion USD of the 22.5 billion USD import value from the RoK to Vietnam was…... [read more]

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 percent over July 28’s close. The benchmark index expanded 2 percent last week. On the Hanoi Stock Exchange, the HNX-Index increased 0.63 percent to end at 101.18. The northern market index gained 2.6 percent 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 percent, 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 percent and 4.6 percent, respectively. The largest lender, Vietcombank (VCB), edged up 0.7 percent. According to BVSC’s report, Vietcombank is the most profitable bank with pre-provision operating profit of 5.05 trillion VND (224.7 million USD) by the end of June, up 20.5 percent year-on-year and fulfilling 54 percent of its yearly target. BIDV also recorded positive earnings with pre-tax profit for the first six months reaching 4.05 trillion VND, a year-on-year increase of 24.7 percent and completing 54 percent of the goal it set for the year. Military Bank (MBB) posted over 2.5 trillion VND worth of pre-tax profit in the first half of this year, rising 36…... [read more]

VNPT Technology, a member of VNPT, introduced a new 4G smartphone called Vivas Lotus S3 LTE on July 29. The phone is the fifth generation of its Vivas Lotus line, with a solid metal chassis and double-sided tempered glass and a 5.5 inch screen with HD resolution of 267 pixels per inch. The phone runs Android 6.0.1 and is equipped with a 1.3GHz core processor, 3GB RAM - 32 GB ROM internal memory, and a 3000 mAh battery. Its back camera is 13.0 MP (Auto-Focus) and the front camera is 5.0 MP. It features many exclusive applications developed by VNPT Technology, such as TV on Demand, a Call Block application, an IPRadio - online radio service, and the VNPT App Store. Supporting 4G LTE is an advantage for Vivas Lotus S3 compared to other smartphones in the same segment. It costs VND3.99 million ($175) and is targeted at middle-income earners and young people such as students. The phone is a real Vietnamese smartphone for the middle class as it is Made in Vietnam. Prior to VNPT Technology, other Vietnamese tech companies such as FPT and Viettel also introduced smartphones for the middle class but they were manufactured in China. The first generation Vivas was introduced in August 2013, which surprised the tech community because VNPT had not previously introduced a smartphone. It also introduced SmartBox PC on the same day, which combines…... [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]

On August 1, FWD Vietnam Life Insurance Company Ltd. (“FWD”) and Nam A Commercial Joint Stock Bank (“Nam A Bank”) have signed an exclusive 15-year bancassuarance partnership to provide comprehensive and diverse life insurance products for Nam A Bank’s customers. With this agreement, FWD will expand its bancassurance distribution network as it aims to become a leading insurer in Vietnam that changes the way people feel about insurance. Mr Anantharaman Sridharan, FWD’s General Director, said: "FWD has achieved remarkable growth in the last six months, and our bancassuarance distribution channel has been a significant driver of this. Our strength in providing innovative and simple products and a unique customer experience supported by leading digital technologies will complement Nam A Bank’s network for the ultimate benefit of their customers and the availability of insurance. This is aligned with our vision to change the way people feel about insurance and help Vietnamese families to live life to the fullest.” Ms Luong Thi Cam Tu, Nam A Bank’s General Director said: "We have studied many partners to choose the suitable one for cooperating, diversifying services and maximizing Nam A Bank’s internal strength. With a strong financial position and extensive experience in insurance in Asia, FWD has become as our exclusive partner. Through our stable customer base and nationwide network as well as the same strategy of “customer centricity” and mutual trust, I believe that the cooperation between Nam A Bank and FWD will bring good results not…... [read more]

BERLIN: A 26-year-old failed asylum seeker who carried out a deadly knife attack in a Hamburg supermarket likely had a "radical Islamist" motive, German prosecutors said on Monday (Jul 31). Germany has been on high alert over the threat of a militant attack. (Photo: AFP/Markus Scholz) The man, named as Ahmad A., had self-radicalised and had gone on the rampage "with the hope he would die as a martyr," added prosecutors. The Palestinian suspect had entered a supermarket on a lively Hamburg high street on Friday, snatching from the shelves a 20cm (eight-inch) knife which he used to slash at people around him. The assault left one dead and six wounded. It was the first militant attack in Germany since Tunisian Anis Amri drove a truck into crowds at a Berlin Christmas market on Dec 19, killing 12 and injuring 48. It also risks reopening a bitter debate over refugees two months before general elections, putting pressure on Chancellor Angela Merkel over her decision to open Germany's borders in 2015, letting more than a million asylum seekers in. "It appears that there is a radical Islamist background to the act," prosecutors said. The suspect had toyed with the extremist ideology for some time, and two days before he went on his rampage, he "finally decided to adopt a corresponding lifestyle," they said. "On the day of the act, he…... [read more]

NEW YORK: The Dow pushed to its fourth straight closing record on Monday (Jul 31), while the Nasdaq retreated following sharp declines in Amazon, Tesla Motors and other high-flyers. Traders work on the floor of the New York Stock Exchange. (Spencer Platt/Getty Images/AFP) The Dow Jones Industrial Average gained 60.81 points (0.28 per cent) to end the session at 21,891.12. The broad-based S&P 500 slipped 1.80 points (0.07 per cent) to 2,470.30, while the tech-rich Nasdaq Composite Index shed 26.55 point (0.42 per cent) to 6,348.12. The Dow was led by Chevron, which reported strong earnings Friday, and Home Depot, which benefited from a wave of buying in shares of leading big-box retailers. Both climbed about one per cent. Analysts said Monday's blue-chip record marked a continuation of last week's enthusiasm fuelled by strong corporate earnings. "The drivers are the same," said Art Hogan, chief market strategist at Wunderlich Securities. "It's not surprising that stocks are doing better with the earnings doing better." Apple and Pfizer are among the companies reporting results this week. Tech shares with larger drops included Amazon, down 3.2 per cent, Alphabet, down 1.2 per cent, Facebook, down 1.9 per cent, and Tesla Motors, down 3.5 per cent. Scripps Network Interactive rose 0.6 per cent on news it agreed to be acquired by Discovery Communications for US$14.6 billion. Discovery plunged 8.2 per cent. The…... [read more]

National Assembly Vice Chairman Phung Quoc Hien (R) and President of Ford ASEAN Mark Kaufman (Photo: quochoi.vn) Hanoi (VNA) – Vietnamese leaders always support stronger trade and economic ties with the US and are willing to create a transparent and favourable business climate for foreign firms, including those from the US, said a top lawmaker. While receiving President of Ford ASEAN Mark Kaufman in Hanoi on July 31, National Assembly Vice Chairman Phung Quoc Hien congratulated Ford Motor Company and Ford Vietnam on their recent achievements, adding that Ford products have become more popular in the Vietnamese market. Hien believed that these successes would create a momentum for cooperation prospects between Vietnam and the US, particularly in economic and trade partnership. For his part, Kaufman spoke highly of Vietnamese leaders’ attentions and assistance to businesses through preferential policies with a view to developing a sustainable automobile industry. Kaufman said the local automobile industry will undergo a drastic change in 2018, when Vietnam opens its market as committed to the ASEAN Free Trade Area. The opening of the market will generate higher competition pressures for auto makers, including Ford, he added. Kaufman asked Vietnamese authorities to consider special consumption taxes on pickup trucks as well as tariffs on auto components imported from outside the ASEAN region so as to ensure the healthy development of the automobile market.-VNA... [read more]

Last year, total inbound shipments of corn surged 9.5% to 8.5 million tons with Argentina and Brazil the two largest sourcing markets at 47.2% and 41.2% shares, respectively. When the final figures for 2017 tally in, the imports are expected to fall in line with last year. The area under corn cultivation in Vietnam reached 1.15 million hectares last year, with a yield of 5.24 million tons, the report continued. The Institute of Policy and Strategy for Agriculture and Rural Development in turn reported that roughly eight million tons of corn are used annually by domestic companies in the manufacture of animal feed. According to the Institute report, they have pencilled out projections that showed a potential for Vietnamese farmers to have 1.26 million hectares under corn cultivation by 2020 with significantly increased yields. But those figures are highly speculative and presume that farmers can right the ship and become more competitive with their foreign counterparts, which appears an unlikely scenario. With high production costs and lower yields, domestic farmers stand little chance of becoming competitive in the corn segment anytime in the foreseeable future, the report said. In addition, hybrid corn varieties with higher productivity, quality and protein and much more resistant to pests, cold, drought and other things need to be developed to improve added value, it said.... [read more]




Links Topics : http://news.c10mt.com/2017/08/energy-stocks-push-vn-index-to-nine.html