VN-Index sets new nine-year high

Shares continued to climb on August 1 on the two stock exchanges, backed by strong gains of oil stocks after global oil prices recorded the strongest month of the year. Investors at ACB Securities Company in Hanoi On the Ho Chi Minh Stock Exchange, the VN-Index increased 0.42 percent to close at 786.61 points, topping the former nine-year high of 782.65 points of July 6. Energy stocks drove the market up with the two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advancing 2.6 percent and 6.8 percent, respectively. PVD was among the most active stocks on the southern bourse with more than 8 million shares being traded, despite its negative earnings in the second quarter. The company reported a loss of around 45 billion VND (16.7 million USD) in the second quarter, adding up to a total loss of 246 billion VND in the first half of this year. The firm attributed the poor result to a 34-40 percent decline in the lease of drilling platforms over the past three months. Global oil prices extended gains on July 31, ending the strongest month of the year, boosted by expectations of US sanctions against Venezuela’s oil sector and waning concerns over the supply in major oil markets. Brent crude edged up 0.3 percent to settle at 52.65 USD while  the US light crude oil rose nearly 1 percent to trade at 50.17 USD a barrel. Expansion of other blue chips such as brewery Sabeco…... [read more]

Investors at ACB Securities Company in Hanoi (Source: VNA) Hanoi (VNS/VNA) - Shares continued to climb on August 1 on the two stock exchanges, backed by strong gains of oil stocks after global oil prices recorded the strongest month of the year. On the Ho Chi Minh Stock Exchange, the VN-Index increased 0.42 percent to close at 786.61 points, topping the former nine-year high of 782.65 points of July 6. Energy stocks drove the market up with the two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advancing 2.6 percent and 6.8 percent, respectively. PVD was among the most active stocks on the southern bourse with more than 8 million shares being traded, despite its negative earnings in the second quarter. The company reported a loss of around 45 billion VND (16.7 million USD) in the second quarter, adding up to a total loss of 246 billion VND in the first half of this year. The firm attributed the poor result to a 34-40 percent decline in the lease of drilling platforms over the past three months. Global oil prices extended gains on July 31, ending the strongest month of the year, boosted by expectations of US sanctions against Venezuela’s oil sector and waning concerns over the supply in major oil markets. Brent crude edged up 0.3 percent to settle at 52.65 USD while  the US light crude oil rose nearly 1 percent to trade at…... [read more]

Investors at ACB Securities Company in Ha Noi. — VNS Photo Viet Thanh Shares continued to climb Tuesday on the two stock exchanges, backed by strong gains of oil stocks after global oil prices recorded the strongest month of the year. On the HCM Stock Exchange, the VN-Index increased 0.42 per cent to close at 786.61 points, topping the former nine-year high of 782.65 points of July 6. Energy stocks drove the market up with the two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advancing 2.6 per cent and 6.8 per cent, respectively. PVD was among the most active stocks on the southern bourse with more than 8 million shares being traded, despite its negative earnings in the second quarter. The company reported a loss of around VND45 billion (US$16.7 million) in the second quarter, adding up to a total loss of VND246 billion in the first half of this year. The firm attributed the poor result to a 34-40 per cent decline in the lease of drilling platforms over the past three months. Global oil prices extended gains on Monday, ending the strongest month of the year, boosted by expectations of US sanctions against Venezuela’s oil sector and waning concerns over the supply in major oil markets. Brent crude edged up 0.3 per cent to settle at $52.65 while the US light crude oil rose nearly 1 per cent to trade at…... [read more]

Energy stocks push the VN Index to nine-year high. — Photo money.cnn.com The benchmark VN Index rose to a nine-year high on Tuesday morning backed by the growth of energy stocks, even as banks tumbled on rising profit-taking pressure. The key index on the HCM Stock Exchange went up 0.36 per cent to 786.34 points. The two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advanced 1.3 per cent and 6.8 per cent, respectively. PVD topped the list of the most active stocks this morning with 7.3 million shares being traded, despite its negative earnings in the second quarter. The company has reported a loss of around VND45 billion (US$16.7 million) in the second quarter, adding up to a total loss of VND246 billion in the first half of this year. The firm attributed the poor result to a 34-40 per cent decline in the lease of drilling platforms over the past three months. On the defensive side, four of the six listed banks slipped this morning under selling fire. Both BIDV (BID) and Military Bank (MBB), which posted good earnings, dropped by 0.5 per cent and 0.8 per cent, respectively. On the Ha Noi Stock Exchange, the HNX Index edged up 0.27 per cent to 101.45 points. A total of 180 million shares worth VND2.7 trillion ($119.5 million) were traded in the two markets. The afternoon trade starts at 1pm. – VNS ... [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]

Shares rose stronger in July 31 afternoon trading as bank stocks accelerated their growth on the back of positive first-half business earnings. (Photo: bizlive.vn) Hanoi (VNA) - Shares rose stronger in July 31 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 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…... [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 fruitful outcomes of this meeting will contribute to promoting peace, stability, co-operation and development in the region. The remarks were made by Vietnamese Defence Minister Phung Quang Thanh at a bilateral meeting with Cambodian Deputy Prime Minister and Defence Minister Tea Bank in Phnom Penh on May 29. Thanh expressed his gratitude for Cambodian Government, Defence Ministry and Cambodian Royal Army support for Vietnamese military-owned enterprises operating in Cambodia. Tea Bank praised these companies’ operation and affirmed his country’s continuing support. The two defence ministers also discussed opportunities for further co-operation. Earlier the same day, Thanh visited Metfone Telecom, owned by Viettel and a Military Bank branch in Phnom Penh.... [read more]

Nguyen Hoa Binh, Chairman of the Board of Directors of Vietcombank, revealed the information at the bank’s annual shareholders congress in Hanoi on April 23. Vietcombank will also continue divesting from other banks at the request of the State Bank of Vietnam, said Binh. “We will retain our stock at efficient banks such as Military Bank (MB) and Eximbank, and divest from others to make our investment more efficient,” he said. Binh also assured shareholders that the process of mergers and acquisitions (M&A) will definitely take place at Vietcombank, but did not disclose when it will happen. The bank is increasing its charter capital to prepare for the M&A process if time permits, he said. At the convention, shareholders agreed to raise the bank’s charter capital by an additional VND3.476 trillion this year to VND26.65 trillion. This year, Vietcombank plans to expand its total asset value by 11% to VND520.583 trillion, its credit balance by 13% to 309.975 trillion, and its pre-tax profit and provisions by 13.35% to VND10.500 trillion. The bank intends to open 16 more branches in Vietnam and other branches in Myanmar and Laos in 2014.... [read more]




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