Viet Nam’s benchmark VN Index increased for a fourth straight session on Wednesday on investor confidence in both the corporate sector and the country’s overall economy in the fourth quarter. The HCM Stock Exchange index gained 0.26 per cent to close at 968.46 points, bringing a four-day growth total of 2.36 per cent. More than 235.8 million shares were traded on the southern bourse, worth VND5.9 trillion (US$262.5 million). The market trading condition was balanced with 138 gaining stocks, 140 declining ones and 48 that were steady across the southern exchange. The mixed performance was also seen among large-cap stocks, as 16 of the 30 largest companies by market capitalisation in the VN30 basket advanced against 13 losers, pushing the large-cap VN30 Index up 0.24 per cent to 958.02 points. Much of the market growth was attributed to the rise of banks, insurance companies, energy firms and food and beverage producers. According to KIS Viet Nam Securities Company (KIS), … [Read more...] about VN stocks rises for a fourth day
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VN-Index rises above 965 points
VN-Index rises above 965 pointsPhuong Thao HCMC – Stock gains extended for a third consecutive session on December 26, driving the VN-Index up 7.62 points, or 0.8%, from the day earlier at 965.93. Among the 10 leading stocks for market capitalization, beverage stock SAB was the only loser, falling 2.87% at VND257,000 per share. Meanwhile, lender VCB and property firm VIC closed at the reference prices and the remaining stocks rose strongly. The securities sector saw active trading, with SSI advancing 0.54% at VND28,000 a share with matching volume of 5.8 million shares and HCM surging 5.1% at an intraday high of VND59,000 per share. Among speculative stocks, property firm FLC remained the volume leader with nearly 5.4 million shares traded. Consultancy Design and Urban Development (CDO) again plunged to the floor price of VND2,160 a share with nearly 2.59 million shares traded. Turnover on the HCMC market improved as volume and value increased 10.4% and 26.7% to 186 million … [Read more...] about VN-Index rises above 965 points
VN stocks up again on blue chips
Vietnamese shares advanced on strong investor interest in large-cap stocks but declining liquidity signaled further volatility during the last week of the year. The benchmark VN Index gained 0.63 per cent to close at 958.31 points. The southern market index rose total 1.83 per cent last week. The HNX Index on the Ha Noi Stock Exchange inched up 0.18 per cent to end at 113.23 points following weekly growth of 1.28 per cent. More than 215.4 million shares were traded on the two local exchanges, worth VND5.14 trillion (US$228.4 million), down 11 per cent in volume and 3.6 per cent in value compared to last week’s average daily trading figures. The VN30 Index, which tracks the performance of the 30 largest companies by market capitalisation and has a big impact on market movement, was up 0.36 per cent to 949.28 points. The large-cap group indicator was driven by strong growth of brewer Sabeco (SAB), insurer Bao Viet Holdings (BVH), property developer Vingroup (VIC), PetroVietnam Gas … [Read more...] about VN stocks up again on blue chips
VN-Index rises on upbeat sentiment
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
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