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The index started off in the red and dropped by 25 points but it started to rise again to reach 1,296.13 points by 10:18 a.m. This is its lowest level since the end of July. The VN30 basket, comprising the 30 largest capped stocks, was seeing 18 tickers in the red, with VHM of real estate giant Vinhomes, FPT of IT giant FPT Corporation and MSN of conglomerate Masan Group the top losers with a decline of 3.7 percent, 3.5 percent and 2.3 percent respectively. Other losers included PNJ of Phu Nhuan Jewelry, down 2.1 percent, GAS of state-owned Petrovietnam Gas, down 1.6 percent, and VNM of dairy giant Vinamilk, down 1.9 percent. Eleven tickers bucked the trend, most of them in the banking and real estate sectors. BID of state-owned lender BIDV, HDB of HDBank and MBB of lender MB led the rise with a gain of 2.2 percent, 1.9 percent and 1.6 percent respectively. Investors are also picking up VRE of retail real estate arm Vincom Retail, up 0.7 percent, and VIC of biggest … [Read more...] about VN-Index slide continues

Vietnam will promote its image via SEA Games 31, after hosting the event for the first time in 2003, Duc Thanh On May 5, the excitement of a major sporting event in Vietnam will reach a new level as the rehearsal for the opening ceremony of SEA Games 31 will be held, according to the Ministry of Culture, Sports, and Tourism. The real opening ceremony of the regional biennial games will take place on May 12 at Hanoi’s My Dinh National Stadium, while the closing ceremony is set for May 23 at the Indoor Athletics Palace. The organisers previously unveiled the slogan of the regional competitions as “For a Stronger Southeast Asia”, which is sending regional governments and people a strong message of solidarity to build a powerful ASEAN Community and further promote its role in the international arena. The games’ official logo and mascot have also been introduced, with the logo symbolising a flying bird and a V-shaped hand and the mascot based on the Sao La – a rare mammal listed … [Read more...] about Hanoi counting down days to SEA Games extravaganza

A view of Royal City, a project developed by Vingroup. The company's shares led the market rally trend yesterday, up 2.7 per cent. - Photo vinhomesmartcitytaymo.vn The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) edged up 15.81 points, or 1.17 per cent, to 1,366.8 points. The market's breadth was positive with 339 stocks of a total 533 traded on HoSE increasing. Liquidity also rose sharply compared to the previous session, of which the order matching on the southern bourse surged 25.7 per cent to VND15.4 trillion (US$817.3 million). The uptrend was due to gains in many large-cap stocks, especially in banking and realty sectors. The 30 biggest stocks tracker VN30-Index rose by 16.43 points, or 1.17 per cent, to 1,417.31 points. In the VN30-basket, 21 stocks climbed, while only seven declined and two ended flat. In the top five stocks influencing the bullish trend, Vingroup (VIC) was the biggest gainer yesterday, up 2.7 per cent. Other stocks were Techcombank (TCB), Asia … [Read more...] about Market ends the week higher on improved demand

Inside a factory of steel company Hoa Phat Group (HPG). HPG was down 3.5 per cent last week. — VNA/VNS Photo Duc Dung On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index lost 2.31 per cent, to end Friday at 1,329.26 points. The southern market index had lost 2.75 per cent last week. An average of 541 million shares were traded on the southern exchange during each session last week, worth VND15.6 billion (US$680 million). The market failed to maintain the recovery span from the previous session and turned down. In recent times, the market has had opposite ups and downs due to the low liquidity in the market, said Viet Dragon Securities Co. “It also showed that cash flow is cautious and faces some potential risks. “With the absence of supportive cash flow and stocks that could stabilise the market, the market was under downward pressure at the end of the session. “With the current state of imbalance, VN-Index will need to retest the area of 1,315 points in the next … [Read more...] about Shares to stay in correction phase this week