Stocks close higher but confidence remains poor

The benchmark VN Index on the HCM Stock Exchange closed almost flat at 773.76 points Thursday morning after falling 2.2 per cent in the previous session. — Photo tinnnhanhchungkhoan.vn Shares returned to positive trading on Thursday morning as investors went after stocks that were hit by the large-scale sell-off in the previous session. The benchmark VN Index on the HCM Stock Exchange closed almost flat at 773.76 points. It tumbled more than 2.2 per cent on Wednesday and totaled a two-day loss of 2.4 per cent. The HNX Index on the Ha Noi Stock Exchange inched up 0.21 per cent to end at 101.27 points. The northern market index lost 1.2 per cent in the previous two sessions. Nearly 152 million shares were traded on the two local exchanges, worth VND2.24 trillion (nearly US$100 million). The stock market on Wednesday witnessed its strongest decline in 20 months on rising tension between the United States and North Korea and false news about the arrest of a former bank executive. This triggered a large-scale sell-off of local stocks as investors turned to less risky assets such as gold, bringing all 20 sectors of the stock market down and reducing market capitalisation by $2 billion. According to FPT Securities Company, a significant quantity of stocks was left for sale at close on Wednesday, which would pull the market down in the coming sessions. On Thursday morning, market condition recovered as investors scooped up…... [read more]

Brokerages predict more active selling this weekPhuong Thao HCMC – Some securities firms have predicted selling pressure will build up as the rising indexes of both HCMC and Hanoi exchanges began losing steam last week. Viet Dragon Securities Company said stocks kept rising last week but index increases sharply slowed in the last sessions of the week, an indication that the VN-Index and HNX-Index need to take a breather after recent strong gains. Cash flow remains positive but selling pressure is forecast to increase in the following days. Therefore, investors should take on more shares during falling sessions, it said in a recent report. Bao Viet Securities Company said that positive developments of large caps will continue supporting the market. However, the stock indexes will seesaw strongly. According to BIDV Securities Company, the VN-Index last Friday gained 13.73 points compared to a week earlier. Trading was rather dismal while the supporting zone between 788 and 790 points remained safe. The VN-Index was volatile during the session, suggesting that investors became cautious while turnover averaged out at over VND3.7 trillion per session last week. The main index is predicted to hover from 785 to 788 points this week to test the resistance level of 790 points again, it said. FPT Securities Company, meanwhile, said the VN-Index is still in the upside in the medium and long terms. However, investor caution may prevent the market from rising sharply and investors should follow developments on August 7. Medium- and long-term investors should keep…... [read more]

Transactions for properties in the vicinity of the proposed new airport, work on which is expected to start in 2018 following a resolution passed by lawmakers last month, have begun to pick up recently, Duong Thuy Dung, director of the research and consulting department of the consultancy, said on June 30 during a conference in Ho Chi Minh City, adding that volumes and value are still relatively small in comparison with other areas. With a vote of 428-17 plus 16 abstentions on June 25, the National Assembly approved the development of Long Thanh International Airport in the eponymous district of Dong Nai Province. Although the project will be implemented in three stages, the resolution only sets a timeline for the first phase. By 2025, the first phase of the airport, consisting of the construction of a runway and a passenger terminal capable of serving 25 million passengers a year, must be put into use. The second runway and passenger terminal will be built in the next phase, which has no deadline, to increase the capacity to 50 million passengers per annum. The airport will continue to be upgraded to receive 100 million passengers a year by the last phase. The total estimate for the project is VND336.63 trillion, or US$16.03 billion. The first phase of construction is expected to consume VND114.45 trillion (US$5.45 billion). The go-ahead for Long Thanh construction has warmed up the property market in the proximity of the site, which had been frozen given the downturn of…... [read more]

Shares were mixed on the two local exchanges yesterday while investor confidence remained low ahead of the year-end holiday. Photo shows investors at the FPT Securities Company’s trading platform in Ha Noi. - VNS Photo Thai Ha The benchmark VN Index on the HCM Stock Exchange was down 0.3 per cent to close at 662.45 points. Large-cap stocks continued to pull the market down with 14 of the 30 largest companies by capitalisation suffering losses. Those decliners included dairy producer Vinamilk (VNM), PetroVietnam Gas Corp (GAS), property and retail corporation Vingroup (VIC) and Vietinbank (CTG). VNM fell 1.2 per cent, GAS dropped 1.5 per cent, VIC inched down 0.2 per cent and CTG edged down 0.3 per cent. Nearly 115 million shares were traded yesterday, worth VND2.88 trillion (US$128.3 million), up 1.8 per cent in volume and 24.8 per cent in value compared to last week’s daily average numbers. Such an improvement was attributed to the increase of put-through trading orders. More than 47.6 million shares were exchanged via this method, worth VND1.48 trillion. Foreign investors recorded a net sell value of VND320 billion, putting more pressure on local stocks and domestic investors’ sentiment. On the opposite side, steelmakers became attractive to investors on expectations for tightened policies on imported steel products in order to protect the local industry. That information boosted demand for steel companies’ shares yesterday, including Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Viet Nam-Germany Steel Pipe JSC (VGS). Those stocks advanced 2 per cent,…... [read more]

Hanoi (VNA) - Local shares declined on November 14 on the two national stock exchanges as foreign investors increased selling caused by uncertainty on the fate of the Trans-Pacific Partnership (TPP). The benchmark VN-Index, the measure of 314 stocks on the HCM Stock Exchange, edged down 0.9 percent to close at 673.1 points. The index had gained 1.9 percent last week. On the Hanoi Stock Exchange, the HNX-Index tracking 377 stocks inched down 0.3 percent to 80.9 points. It increased 0.9 percent in the previous week. Foreign investors were net sellers in HCM City’s market for a total value of 272 billion VND (12.2 million USD). They sold shares worth 522 billion (VND), making up 21.2 percent of total trading value in the market, while picking up only 250 billion VND worth of net buy value. Heavy selling pressure dragged down stock prices of large-cap companies. Private equity business Masan Group (MSN) plunged 4 percent. Dairy giant Vinamilk (VNM) slipped 2.6 percent. Real estate developer VinGroup (VIC) fell 2.5 percent and lender BIDV (BID) decreased 2.2 percent. Of the top 30 largest shares by market capitalisation, only seven advanced and up to 23 stocks tumbled. “Traders were uncertainty about the fate of Trans-Pacific Partnership after the Obama administration suspended the trade deal,” stock analysts at FPT Securities Company wrote in a report. The destiny of TPP will depend on newly-elected US President Donald Trump and Republican lawmakers who were not in favour of the deal, in which Vietnam is reportedly…... [read more]

Viet Nam News HÀ NỘI - Local shares declined yesterday on the two national stock exchanges as foreign investors increased selling caused by uncertainty on the fate of the Trans-Pacific Partnership (TPP). The benchmark VN-Index, the measure of 314 stocks on the HCM Stock Exchange, edged down 0.9 per cent to close at 673.1 points. The index had gained 1.9 per cent last week. On the Hà Nội Stock Exchange, the HNX-Index tracking 377 stocks inched down 0.3 per cent to 80.9 points. It increased 0.9 per cent in the previous week. Foreign investors were net sellers in HCM City's market yesterday for a total value of VNĐ272 billion (US$12.2 million). They sold shares worth VNĐ522 billion, making up 21.2 per cent of total trading value in the market, while picking up only VNĐ250 billion worth of net buy value. Heavy selling pressure dragged down stock prices of large-cap companies. Private equity business Masan Group (MSN) plunged 4 per cent. Dairy giant Vinamilk (VNM) slipped 2.6 per cent. Real estate developer VinGroup (VIC) fell 2.5 per cent and lender BIDV (BID) decreased 2.2 per cent. Of the top 30 largest shares by market capitalisation, only seven advanced and up to 23 stocks tumbled. "Traders were uncertainty about the fate of Trans-Pacific Partnership after the Obama administration suspended the trade deal," stock analysts at FPT Securities Company wrote in a report. The destiny of TPP will depend on newly-elected US President Donald Trump and Republican lawmakers who were not in favour…... [read more]

Half of securities firms incur losses in Q3 Thanh Thuong By Thanh Thuong - The Saigon Times Daily HCMC – Nearly 50% of securities enterprises in Vietnam posted up losses in their third quarter financial statements given a steady decline of stock indices and falling liquidity. In the third quarter, the VN-Index lost 7% from 422.3 to 392.6 points while the HNX-Index even plunged 22% compared to the previous quarter. Liquidity also collapsed on the two exchanges, with turnover on the southern and northern bourse both contracting 50% to VND41 trillion and VND21 trillion respectively. Many securities enterprises met difficulties as revenues from brokerage, consulting and stock investment declined. Statistics show that around 30 out of 62 brokers have reported losses in their financial reports submitted to the two stock watchdogs up to now. Among loss makers, some enterprises have suffered losses for a long time, becoming insolvent and having their operations suspended. Specifically, Rubber Securities Company (RUBSE) posted an accumulative loss of over VND42 billion, exceeding its equity of VND40 billion. According to RUBSE’s financial statement, it obtained VND1.2 billion in revenue but its operation cost was VND2.6 billion. Ending the third quarter, RUBSE had VND683 million in cash and cash equivalents, down by VND2.1 billion compared to the previous quarter. The State Securities Commission (SSC) has suspended operation of the broker for six months starting from October 29 for failing to ensure financial adequacy ratio. Earlier, Truong Son and Hanoi securities firms have also been suspended for the…... [read more]

Realty stocks buoyed by low-cost home scheme Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – While most stocks were still struggling, real estate and construction material tickers became the biggest gainers on Thursday as the central bank and the Ministry of Construction unveiled a joint plan to make low-cost homes more affordable. Both BCI and TDH, the developers of apartments in the low-end segment, advanced to limit-up prices while BMP, the producer of plastic construction pipes, also closed at the ceiling price. Nevertheless, the excitement was constrained as the broader market showed little interest in the news. With gainers outnumbering losers by 122 to 80, the VN-Index rose a mere 1.42 points, or 0.3%, against the previous session to close at 474.6 while the HNX-Index inched up 0.62% to 61.81. Trading volume dropped 7% to 47 million shares worth VND726.4 billion on the southern bourse and 21% to 39.9 million shares worth VND313.5 billion on the northern exchange. Foreigner investors were quite active, accounting for 27% of total turnover, but their net inflow was only VND14 billion on the combined bourses. HCMC Securities Corp. (HSC) said overall stocks did not move much on the announcement on Thursday as this was within expectations. Furthermore, three years of loan interest support as stated in the scheme is seen as too short for potential buyers, HSC said. Viet Dragon Securities Company said the market currently still lacks basic supporting news while from a technical viewpoint, weak liquidity and disappointing…... [read more]

Securities tickers attract investors Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC - Stocks of leading securities companies soared on September 17 and attracted most of speculative money inflows as investors were expecting their good business results towards the end of the year. Viet Capital Securities Company (VCSC) in its on September 17’s comment said the market’s average daily turnover in the third quarter of this year has been 38% higher than that of the second quarter, and stock investors want to cash in on this. The HCMC market saw huge gains in nearly all listed securities companies such as SSI, KLS, HCM, BVS and VND. Most these stocks were traded at volumes two or three times higher than the average levels. FPT Securities Company noticed that oil and gas tickers were heavily sold after moving up strongly in recent days. The VN-Index lost two points, or 0.32%, against the previous session to close at 625.66. GAS, VNM and PVD together took away 2.16 points out of the main index while strong advances from BVH and SSI prevented it from a steep decline. However, trading volume of the HCMC market was still high with around 190 million shares worth a total VND3.6 trillion changing hands. There were 116 gainers while the number of laggards was 119. Saigon - Hanoi Securities Company said macroeconomic factors such as credit growth rate at 5.83% at the end of June, low interest rates and Vietnam’s credit rating upgrade by Fitch will…... [read more]

Stock market up despite bearish investor sentiment Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC – The local stock market gained ground on December 1 despite bearish investor sentiment with the VN-Index rising 1.43 points, or 0.25%, to close the day at 568.01. But liquidity fell on the Hochiminh Stock Exchange as trading volume and value decreased nearly 15% and 8% respectively against the previous session to around 123.8 million shares worth nearly VND2.2 trillion. Some 12 out of 23 sectors advanced, with insurance and plastic-chemicals production groups posting the highest increase at around 2.5% each. On the contrary, science technology and rubber production declined nearly 2% and 1.3% respectively, followed by pharmaceutical, banking and real estate. Much cash flow went to blue-chips such as DPM, MSN, VCB, EIB and BVH on December 1; of which, DPM gained VND1,500 each (5%) to close at VND30,700 per share and BVH rose by VND1,300 each (3.5%) to VND37,900 per share. Foreign investors kept staying on the selling side, net selling VND107 billion mainly on large-caps like GAS, HAG, PVD and KDC. They bought VND26 billion worth of DPM shares and VND17.5 billion worth of HPG shares. On the Hanoi market, the HNX-Index moved sideways and closed at 87.44, up a mere 0.02 point, or 0.02%. Liquidity on this northern bourse dropped with trading volume and value down around 24% and 13% to 59 million shares worth VND943.7 billion. Foreigners net sold over VND50 billion on the Hanoi Stock Exchange,…... [read more]




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