VN Index falls on heavyweight shares

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]

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]

Shares continued rising in early August but observers are predicting a slowdown in the short term as shares have become expensive and exposed to profit-taking risk. The benchmark VN-Index on the HCM Stock Exchange rose by 1.5 per cent in the first week of August and has expanded 18.6 per cent since the beginning of this year. On the Ha Noi Stock Exchange, the HNX-Index edged up 1.4 per cent las week and 27.2 per cent over the end of last year. The Vietnamese stock market has been one of the best performers in the world. “I think this increase has reflected investor expectation in 2017. The general market development is fairly reasonable but many stocks have grown expensive and less attractive for investors seeking short-term profits,” said Vo Van Cuong, director of analysis at Maritime Securities Co. Price to earnings (P/E) ratio of the Vietnamese securities market has increased to 16.6 times, the highest since 2008 and no longer cheap in comparision with other regional markets, and the risk of a correction is rising, Cuong told tinnhanhchungkhoan.vn. “Many stocks are being overvalued while their growth potential is limited,” he said. The VN-Index failed to overcome the short-term resistance of 790 points in the last two weekend sessions but still maintained a nine-year peak of over 788 points that indicated investor caution and hesitation about the market uptrend. Selling pressure increased in large-cap stocks in the weekend trades, especially bank stocks which were negatively affected by the arrest of two…... [read more]

Shares continued rising in early August but observers are predicting a slowdown in the short term as shares have become expensive and exposed to profit-taking risk. — VNA/VNS Photo Shares continued rising in early August but observers are predicting a slowdown in the short term as shares have become expensive and exposed to profit-taking risk. The benchmark VN-Index on the HCM Stock Exchange rose by 1.5 per cent in the first week of August and has expanded 18.6 per cent since the beginning of this year. On the Ha Noi Stock Exchange, the HNX-Index edged up 1.4 per cent las week and 27.2 per cent over the end of last year. The Vietnamese stock market has been one of the best performers in the world. “I think this increase has reflected investor expectation in 2017. The general market development is fairly reasonable but many stocks have grown expensive and less attractive for investors seeking short-term profits,” said Vo Van Cuong, director of analysis at Maritime Securities Co. Price to earnings (P/E) ratio of the Vietnamese securities market has increased to 16.6 times, the highest since 2008 and no longer cheap in comparision with other regional markets, and the risk of a correction is rising, Cuong told tinnhanhchungkhoan.vn. “Many stocks are being overvalued while their growth potential is limited,” he said. The VN-Index failed to overcome the short-term resistance of 790 points in the last two weekend sessions but still maintained a…... [read more]

Hanoi Stock Exchange staff (Photo: VNA) Hanoi (VNA) - Shares slowed growth in August 3 afternoon trade on rising investor caution when the benchmark VN-Index touched short-term resistance. The VN-Index on the HCM Stock Exchange retreated below 790 points recorded in the morning but still edged up 0.29 percent to close at 788.49 points. Some large-cap stocks declined and restrained the market uptrend. Fifteen of the top 30 largest shares by market value and liquidity gained value, fewer than 21 in the morning, while seven tumbled. “The VN-Index retained the level of 790 points in a fairly short time and lost points early in the afternoon session, which showed the cash flow was quite cautious in this area,” market analysts at BIDV Securities Co (BSC) wrote in the August 3 note. Sacombank lost the morning gain and dropped 2 percent in afternoon trade, settling at 12,300 VND (0.54 USD) a share, its third decline following the detention of two of its former bankers, with a total decrease of 6.2 percent over three sessions. The bank posted pre-tax combined profits of 754 billion VND (33.2 million USD) in the first seven months of this year, up 29 percent over the target set for the whole year. However, other banks recovered. Eximbank (EIB) increased 4.8 percent while BIDV (BID) and Vietcombank (VCB) ticked up 2 percent and 0.5 percent, respectively. Military Bank (MBB) and Vietinbank (CTG) bounced back to their reference prices. …... [read more]

Ha Noi Stock Exchange staff. The HNX Index picked up 0.46 per cent to end at 101.44 points on Thursday. — VNA/VNS Photo Tuan Anh Shares slowed growth in Thursday afternoon trade on rising investor caution when the benchmark VN-Index touched short-term resistance. The VN-Index on the HCM Stock Exchange retreated below 790 points recorded in the morning but still edged up 0.29 per cent to close at 788.49 points. Some large-cap stocks declined and restrained the market uptrend. Fifteen of the top 30 largest shares by market value and liquidity gained value, fewer than 21 in the morning, while seven tumbled. “The VN-Index retained the level of 790 points in a fairly short time and lost points early in the afternoon session, which showed the cash flow was quite cautious in this area,” market analysts at BIDV Securities Co (BSC) wrote in Thursday’s note. Sacombank lost the morning gain and dropped 2 per cent in afternoon trade, settling at VND12,300 (US$0.54) a share, its third decline following the detention of two of its former bankers, with a total decrease of 6.2 per cent over three sessions. The bank posted pre-tax combined profits of VND754 billion ($33.2 million) in the first seven months of this year, up 29 per cent over the target set for the whole year. However, other banks recovered. Eximbank (EIB) increased 4.8 per cent while BIDV (BID) and Vietcombank (VCB) ticked up 2 per cent and…... [read more]

Shares slowed growth in Thursday afternoon trade on rising investor caution when the benchmark VN-Index touched short-term resistance. Hà Nội Stock Exchange staff. The HNX-Index picked up 0.46 per cent to end at 101.44 points yesterday. - VNA/VNS Photo Tuấn Anh The VN-Index on the HCM Stock Exchange retreated below 790 points recorded in the morning but still edged up 0.29 per cent to close at 788.49 points. Some large-cap stocks declined and restrained the market uptrend. Fifteen of the top 30 largest shares by market value and liquidity gained value, fewer than 21 in the morning, while seven tumbled. “The VN-Index retained the level of 790 points in a fairly short time and lost points early in the afternoon session, which showed the cash flow was quite cautious in this area,” market analysts at BIDV Securities Co (BSC) wrote in Thursday’s note. Sacombank lost the morning gain and dropped 2 per cent in afternoon trade, settling at VNĐ12,300 (US$0.54) a share, its third decline following the detention of two of its former bankers, with a total decrease of 6.2 per cent over three sessions. The bank posted pre-tax combined profits of VNĐ754 billion ($33.2 million) in the first seven months of this year, up 29 per cent over the target set for the whole year. However, other banks recovered. Eximbank (EIB) increased 4.8 per cent while BIDV (BID) and Vietcombank…... [read more]

Shares recorded unexpected downturn on August 2 afternoon following concerns over the detainment of two ex-bankers. Investors monitor the market at Bao Viet Securities Company On the HCM Stock Exchange, the VN-Index edged down 0.07 percent to close at 786.23 points after peaking over 788 points in the morning.  The southern market index expanded nearly 2 percent in the last three sessions. On the Hanoi Stock Exchange, the HNX-Index dipped 0.35 percent to end at 100.97 points. The northern market index gained 4.5 percent in a six-trade rally. Bank shares slipped due to rising investor caution, following the news Tram Be, Sacombank’s former chairman, and Phan Huy Khang, the bank’s former CEO, were arrested on August 1 for allegedly  economic mismanagement related to a unauthorised lending of 1.8 trillion VND (80 million USD). Sacombank shares fell for a second day, dropping 3.5 percent and settling at 12,550 VND a share. Vietcombank (VCB), Military Bank (MBB) and Saigon-Hanoi Bank (SHB) slipped between 0.8-1.2 percent. BIDV (BID), Vietinbank (CTG) and Eximbank (EIB) bucked the trend; EIB rose by a daily maximum limit of 7 percent. According to some securities companies, investors should not be too pessimistic about the information, as difficulties at this bank were revealed a long time ago. On the bright side, many large-cap stocks maintained growth and supported the market. PetroVietnam Drilling and Wells Service (PVD) increased by over 2 percent, while other shares in the list of the 30 largest stocks by market value and liquidity such as…... [read more]

Investors monitor the market at Bao Viet Securities Company. — VNA/VNS Photo Tran Viet   Shares recorded unexpected downturn Wednesday afternoon following concerns over the detainment of two ex-bankers. On the HCM Stock Exchange, the VN-Index edged down 0.07 per cent to close at 786.23 points after peaking over 788 points in the morning. The southern market index expanded nearly 2 per cent in the last three sessions. On the Ha Noi Stock Exchange, the HNX-Index dipped 0.35 per cent to end at 100.97 points. The northern market index gained 4.5 per cent in a six-trade rally. Bank shares slipped due to rising investor caution, following the news Tram Be, Sacombank’s former chairman, and Phan Huy Khang, the bank’s former CEO, were arrested on Monday for allegedly economic mismanagement related to a unauthorized lending of VND1.8 trillion (US$80 million). Sacombank shares fell for a second day, dropping 3.5 per cent and settling at VND12,550 a share. Vietcombank (VCB), Military Bank (MBB) and Sai Gon-Ha Noi Bank (SHB) slipped between 0.8-1.2 per cent. BIDV (BID), Vietinbank (CTG) and Eximbank (EIB) bucked the trend; EIB rose by a daily maximum limit of 7 per cent. According to some securities companies, investors should not be too pessimistic about the information, as difficulties at this bank were revealed a long time ago. On the bright side, many large-cap stocks maintained growth and supported the market. …... [read more]

VN-Index rises despite sluggish tradePhuong Thao HCMC – The VN-Index soared to a nine-month high in the third straight session of gains on August 1 but turnover slumped because of investor caution. The main index closed the day at 786.81, up 3.26 points, or 0.42%, against the session earlier, with large caps SAB, GAS and VCB adding nearly 3.5 points to the increase. However, trading volume and value on the HCMC market fell 22.7% and 17.5% to 206 million shares worth VND3.8 trillion. SAB, Vietnam’s top brewer, closed at an intraday high of VND244,900 per share, up 3.4% versus Monday, after it had announced positive growth in the first half of 2017. Among oil and gas stocks, GAS climbed 2.6% at VND64,200 a share with volume of around 810,000 shares while PVD leapt to the upper limit with over eight million shares traded. Speculative stocks continued leading the market in terms of liquidity but many firms came under strong selling pressure. HQC, a real estate company, was the most actively traded stock with over nine million shares changing hands but it ended down 1.6%. HNG, which is active in the agriculture sector, hit the ceiling price as its profit jumped to over VND1 trillion in January-June. However, it then announced an additional huge loss in 2016, which may drag down its profit in the first half in 2017 to just around VND300 billion. Investors were dampened by the news, with HNG managing a modest rise of 0.5% at the close.…... [read more]




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