VN-Index rises on upbeat sentiment Kim Ngan HCMC – Upbeat investor sentiment led the HCMC market to end up on February 7 with the VN-Index adding 0.27% at 701.91points after two consecutive losing sessions. More than 158.6 million shares worth a combined VND3.3 trillion (US$147.5 million) changed hands, up 34% against the session earlier. Matched volume stood at 151 million shares worth VND2.8 trillion. Dau tu Chung khoan newspaper attributed the rally to strong cash flows. Heavyweights VNM, VIC, SAB and ROS extended their winning momentum and were key contributors to the market rally. Almost all steel stocks also performed well. Except for VCB, other bank stocks retreated such as BID losing 0.6% and CTG declining 0.8%. GAS and PVD of the petroleum sector dipped on profit taking. Regarding the securities sector, SSI closed up for a second day with a 1.7% increase at VND20,900 a share and HCM soared 3.14% at VND29,550 per share for a third session. FLC again took the lead … [Read more...] about VN-Index rises on upbeat sentiment
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VN-Index predicted to soar to 900 points
VN-Index predicted to soar to 900 pointsPhuong Thao HCMC – Securities firms expect the VN-Index to beat 900 points in the near term as the index stood firmly above the psychological level of 890 points last week. The index fell slightly for the first time in two weeks, closing down 0.24% at 890.69 points last Friday. For the week, the index advanced 2.6% on the heels of the previous week’s 2.9% jump, marking the seven-week spike. Vietnam’s leading fuel retailer PLX fell to near a 10-month low while housing developer KDH soared to a record high, securing its 71% gain so far this year, amid heavy foreign buying. Fellow property developer VIC also hit a new high, having picked up 70% since early this year. HT1, a cement maker, surged on possible bottom fishing by investors after the company had plunged 41% over the previous four months through Wednesday. Foreign investors net bought nearly VND2.9 trillion of shares on the HCMC market, making significant contributions to … [Read more...] about VN-Index predicted to soar to 900 points
Bright outlook for VN-Index in December
The VN-Index of the HCM Stock Exchange rose 2.65 per cent last week, concluding Friday at 960.33 points, the highest since December 7, 2007.Viet Nam’s key market index gained nearly 13.5 per cent in the past one month and has climbed 44.5 per cent since the beginning of this year.In north, the HNX-Index rose 4.2 per cent last week, closing Friday at 115.49 points. The northern market index has also expanded over 44 per cent this year.The Ministry of Industry and Trade (MoIT)’s announcement on the long-awaited competitive share offering of Sai Gon Beer-Alcohol-Beverage Corporation, better known as Sabeco (SAB), and the Development Investment Construction Joint Stock Company (DIG) has spurred investors’ interest in the stock market.SAB was also among the biggest gainers with a weekly gain of 3.5 per cent given that it is the most expensive stock in the market, at VND330,000 (US$14.47) per share.MoIT has said that 343.6 million, equivalent to 53.59 per cent of … [Read more...] about Bright outlook for VN-Index in December
VIC, VRE lift VN-Index over 900 points
Investors at the SSI stock trading floor. (Source: VNA) Hanoi (VNA) – The benchmark VN-Index rose to yet another new 10-year peakon November 20, ending the session at 903.55 points, up 13 points, or 1.44 percentover November 17’s close.Thesouthern market index advanced 2.6 percent last week.Theupturn was driven mainly by strong growth of some individual blue-chip stocks,especially real estate giant VinGroup (VIC) and its retail arm Vincom Retail(VRE) which both hit the daily limit rise of 7 percent.VICclosed at 76,300 VND (3.36 USD) a share while a VRE share was traded at 47,700 VNDeach.Atthis price, market capitalisation of these two companies was a combined 292trillion VND (roughly 13 billion USD), surpassing the value of the biggestlisted company Vinamilk at 11.9 billion USD.VinGroup’smarket value rose to the second place after Vinamilk (VNM) on November 20,while Vincom Retail’s market capitalisation ranked sixth, a big success sinceits debut on the HCM … [Read more...] about VIC, VRE lift VN-Index over 900 points
VIC, VRE lift VN-Index over 900 mark
The benchmark VN-Index rose to yet another new 10-year peak on Monday, ending the session at 903.55 points, up 13 points, or 1.44 per cent over Friday’s close.The southern market index advanced 2.6 per cent last week.The upturn was driven mainly by strong growth of some individual blue-chip stocks, especially real estate giant VinGroup (VIC) and its retail arm Vincom Retail (VRE) which both hit the daily limit rise of 7 per cent.VIC closed at VND76,300 (US$3.36) a share while a VRE share was traded at VND47,700 each.At this price, market capitalisation of these two companies was a combined VND292 trillion (roughly $13 billion), surpassing the value of the biggest listed company Vinamilk at $11.9 billion.VinGroup’s market value rose to the second place after Vinamilk (VNM) yesterday, while Vincom Retail’s market capitalisation ranked sixth, a big success since its debut on the HCM Stock Exchange on November 6.Dairy giant Vinamilk (VNM) also rose 2.1 per cent on Monday, … [Read more...] about VIC, VRE lift VN-Index over 900 mark