Markets

Shares ended Tuesday morning down, dragged by falling oil stocks due to the slump of global oil prices. — Photo ndh.vn Shares ended Tuesday morning down, dragged by falling oil stocks due to the slump of global oil prices. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.26 per cent to close at 953.40 points. The southern market index was down 0.28 per cent to close at 955.89 points on Monday. The HNX Index on the Ha Noi Stock Exchange fell 0.27 per cent to end at 106.53 points. The northern bourse index dropped 0.30 per cent to end at 106.82 points on Monday. More than 105 million shares were traded on the two exchanges, worth VND1.8 trillion (US$79 million). Securities, mining, inancial and banking stocks dragged the stock market down during morning session. According to Reuters.com, oil prices echoed the weakness in global stock markets amid worries about a slowdown in demand, dropping 3 per cent on Monday. US crude futures were last up 27 cents at $51.27 … [Read more...] about Shares down on falling oil stocks

PAN Group will receive the registration dossiers of the sellers from December 12 to January 14. — Photo vietnamfinance.vn Vietnamese agriculture and food company PAN Group JSC has registered to buy nearly 4.8 million shares of Sao Ta Foods JSC (FMC) to raise its current holding in FMC to 45 per cent. The shares, to be bought for VND30,000 each (US$1.28), are equivalent to a 11.85 per cent stake in FMC. PAN Group will receive the registration dossiers of the sellers from tomorrow to January 14. Sao Ta Foods’ revenue rose 3 per cent year-on-year to hit $16.2 million in November. The firm’s shrimp output surged 33 per cent to 1,937 tonnes in the month. In January-November, its shrimp output was more than 20,700 tonnes, exceeding the goal for the year by 7 per cent. Its revenue surpassed the full-year target by 6.2 per cent at $201.8 million. — VNS … [Read more...] about PAN Group registers to buy Sao Ta Foods shares

FPT Online operates primarily in the areas of online advertising, games and music, as well as social networking and SMS services. — Photo cafef.vn FPT Online Service Joint Stock Company on Monday started trading more than 14 million shares on the Unlisted Public Company Market (UPCoM) at a starting price of VND110,000 (US$4.7). The shares, under the code FOC, increased 40 per cent in the first session to VND154,000 to hold the highest price on UPCoM. At this price, FPT Online’s market capitalisation stands at nearly VND2.28 trillion. FPT Online was established on July 1, 2007 with initial charter capital of VND40 billion. Since then the company has increased its charter capital to over VND140.8 billion. The firm operates primarily in the areas of online advertising, games and music, as well as social networking and SMS services. In 2017, the company recorded revenue of nearly VND520 billion and after-tax profit of more than VND250 billion, year-on-year increases of 6 per … [Read more...] about FPT Online lists over 14 million shares on UPCoM

Investors at Bao Viet Securities Company. Vietnamese shares lost values on Monday morning, pulled down by the poor performance of financial and banking firms. - VNS Photo Truong Vi Vietnamese markets dropped on Monday morning, dragged down by financial-banking stocks. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.34 per cent to close at 955.37 points. The southern market index gained 3.45 per cent last week. The HNX Index on the Ha Noi Stock Exchange fell 0.39 per cent to end at 106.72 points. The northern bourse index climbed 2.21 per cent the previous week. More than 118 million shares were traded on the two exchanges, worth VND2.6 trillion (US$114.6 million). Beating analysts and investors’ expectations, financial and banking stocks dragged the stock market down on the first trading day of the week. The banking, securities and insurance sector indices declined between 1 per cent and 1.4 per cent, data on vietstock.vn showed. Among banking stocks, … [Read more...] about Financials and banks pulled market down

PetroVietnam Oil Corporation (PV Oil), the second-largest petrol dealer in the country, will sell the State’s stake in a package deal instead of splitting it into different small sales, news site ndh.vn reported. According to PV Oil General Director Cao Hoai Duong, the company has submitted a plan to the firm’s parent company – the Vietnam National Oil and Gas Group (PetroVietnam or PVN). The company is trading more than 200.4 million shares on the Unlisted Public Company Market (UPCoM) as OIL. Its shares gained 0.7 per cent to close Friday at VND15,400 (US$0.67) per share. It has a total of 1.09 billion outstanding shares on the Vietnamese equity market. PVN will represent the State to hold 35.1 per cent of PV Oil’s charter capital after the latter firm completes its equitisation plan. Under its plan, PV Oil must sell 20 per cent of its charter capital via initial public offering (IPO). The company had done so in January 2018, raising around $184 million. PV … [Read more...] about PV Oil to sell State’s stake