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Vietnamese shares were on the positive side Tuesday morning, driven by financial-banking stocks. The benchmark VN-Index on the HCM Stock Exchange was up 0.75 per cent to end at 1,000.93 points. The southern market index advanced 0.60 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange increased by 1.05 per cent to close at 114.79 points. The northern market rose 0.74 per cent in the previous session. More than 194 million shares were exchanged on the two bourses, worth VND3.58 trillion (US$159.2 million). Banks, securities firms and insurance companies were the major driving factors in the morning session. The three sector indices were up between 0.6 per cent and 0.9 per cent, data on vietstock.vn showed. Gainers included Sai Gon-Ha Noi Bank (SHB), Techcombank (TCB), VPBank (VPB), Viet Capital Securities (VCI), MB Securities (MBS) and VNDirect Securities (VND). Energy stocks also performed well, including PetroVietnam Gas (GAS), PetroVietnam Mud Drilling Corp (PVC) and … [Read more...] about Vietnam markets up on back of financial stocks

The statue of a bull and a bear in front of the HCM Stock Exchange. The benchmark VN Index lost 0.25 per cent to close Tuesday morning at 985.12 points. The benchmark VN Index on the HCM Stock Exchange dropped 0.25 per cent to close at 985.12 points. The southern bourse index lost 0.38 per cent on Monday after having gained a total of 2.3 per cent last week. The HNX Index on the Ha Noi Stock Exchange edged down 0.22 per cent to end at 112.51 points. The northern market index lost 0.54 per cent in the previous session. More than 129 million shares were traded on the two local bourses, worth nearly VND2.5 trillion (US$110.8 million). Declining stocks outnumbered gaining ones by 233 to 151 while 104 other stocks closed unchanged. The market sentiment was dragged down by the US latest decision to impose tariffs on $200 billion worth of Chinese imports, raising tensions between the two largest economies. The industries that saw stocks decline were real estate, banking, energy, rubber and … [Read more...] about Vietnam shares extend declining on trade tariffs

Merging with Tran Anh (code: TAG) may have been a big mistake by technology retail giant Mobile World, as the Hanoi Stock Exchange (HNX) has just announced approving its decision to delist from the stock exchange due to its negative performance. Nearly 25 million TAG stocks worth VND250 billion ($11 million) on September 17 were officially delisted on the HNX Accordingly, nearly 25 million TAG stocks worth VND250 billion ($11 million) were officially delisted on September 17 to restructure the firm and find strategic partners. Slightly more than one year after merging with Mobile World, Tran Anh’s business has been unsatisfying, which can be seen in the stock being put on alert on June 25 because of the firm’s negative after-tax profit and the undistributed after-tax profit released in its financial report on March 31, 2018. This negative performance undermined interest in the stock, leading to little to no trading since late April. More than two months later, … [Read more...] about Tran Anh officially delists from Hanoi Stock Exchange

VPBank unveils the YOLO digital bank aimed at the young generation in Vietnam According to a market research, 70 per cent of Vietnam’s population, especially the young generation, is underserved by the banking sector. Based on this fact, VPBank has developed the YOLO digital bank. With the motto “Live in Style,” YOLO not only provides customers with a full range of financial services, but also integrates other services to cater to their daily needs, such as transportation, travel, entertainment, and restaurant reservations, among others. YOLO MasterCard offers global payment functions to customers. To register, customers only need to provide their names, phone number, and email address. Customers can use YOLO MasterCard to pay at any e-commerce website anytime, anywhere. One of the highlights of YOLO digital banking is the YOLO super saving product, which allows customers to effectively manage their expenses and optimise idle money. In addition to its … [Read more...] about VPBank launched YOLO digital bank for the youth

Donald Trump threatened to impose tariffs on all Chinese imports as he escalated the trade row between the world's top two economies AFP/NICHOLAS KAMM The president's comments Friday added to the uncertainty on trading floors, which have also been hit by a concerns of a brewing financial crisis in emerging markets. They also overshadowed data showing a bigger-than-forecast jump in US jobs creation for August and sent all three main indexes on Wall Street into negative territory. There was some relief earlier Friday that Trump did not immediately impose levies on US$200 billion of Chinese goods after the passing of a deadline for a public consultation. The threatened tariffs would add to the US$50 billion in imports already targeted and mark a major step up in the long-running battle between the world's top two economies. However, Trump told reporters on Air Force One later that day that "there's another US$267 billion ready to go on short notice if I want". That would cover … [Read more...] about Asian markets hit by fresh trade fears after Trump comments