The index closed 9.51 points higher after losing 7.67 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 10.02% to VND15.45 trillion ($649 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 20 tickers gain. STB of Ho Chi Minh City-based lender Sacombank led with a 6.9% rise, followed by SSI of leading brokerage SSI Securities Corporation and TCB of the largest private lender Techcombank, both went up 6.8%. Other gainers included PDR of Phat Dat Real Estate Development, up 5.1% and GVR of Vietnam Rubber Group, up 5%. Nine blue chips fell, with NVL of property developer Novaland Group hitting floor price with a 6.8% drop. MSN of conglomerate Masan Group lost 4%, and VRE of retail real estate arm Vincom Retail went down 2.5%. Foreign investors were net buyers to the tune of VND580.29 billion, mainly buying VIC of biggest private conglomerate Vingroup and STB of Ho Chi Minh City-based lender Sacombank. The HNX-Index … [Read more...] about Two-thirds of blue chips close in green
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People withdrawing money from Techcombank's ATMs in Ha Noi. The bank's shares surged by 7 per cent on Thursday, supporting the market's bullish trend. — VNA/VNS Photo Tran Viet The stock market finished higher on Thursday, boosted by bargain-hunting force after a two-day correction. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) closed the trading day at 1,050.53 points, an increase of 9.51 points, or 0.91 per cent. The market’s breadth returned to positive territory with more stocks recovering. Specifically, 257 ticker symbols on HoSE added points, while 86 dropped lower. Liquidity also improved, with trading value on the southern bourse rising 10.4 per cent over the previous session to VND15.45 trillion (US$649.1 million), equal to a trading volume of nearly 917 million shares. The index’s reversal was mainly driven by gains in some large-cap stocks as recent sharp falls stimulated some investors to increase stock proportions in their portfolios. The VN30-Index, … [Read more...] about Indices rebound on bottom-fishing force
Infographic by HSBC Since the advent of US-China trade tensions, Viet Nam has been one of the biggest beneficiaries in terms of both trade and FDI diversion, boosting its export share in the US market in particular. As a result, Viet Nam has become increasingly vulnerable to a US economic slowdown. In its recent 'Vietnam at a glance' report, HSBC said Viet Nam has been hit hard by a global trade slowdown, seeing the first meaningful year-on-year decline in its exports in two years. In particular, the decline has been led by an economic slowdown in the US, Viet Nam’s largest export destination. After over two years of booming trade, the “pay-back” time has come. Global orders have been falling sharply, taking a toll on Asian exporters. Viet Nam is no exception, and it has been on the front line in terms of feeling the pain. In November, the country saw the first meaningful year-on-year decline in its exports in two years, with broad-based weakness. In particular, shipments of … [Read more...] about HSBC: Is an export winter approaching?
Deputy Minister of Information and Communications presents awards to 40 digital enterprises. — VNS Photo Le Viet Dung Institutional reform and high-quality human resources are key to Viet Nam's digital advancement, according to Deputy Prime Minister Vu Duc Dam. Dam was speaking at the fourth National Forum on the Development of Vietnamese Digital Enterprises (NFD) on December 8. The deputy PM said Viet Nam needs institutional reform to facilitate digital growth since many existing legal documents are holding back projects. High-quality human resources are also equally important as the country is in need of one million information technology (IT) workers in the short term. "If we do not break old thinking patterns and take new approaches to education and training, one million IT workers would be a target out-of-reach," said Dam. He also said software and digital products account for roughly 5 per cent of Viet Nam's total exports last year, of which FPT contributed around … [Read more...] about ‘Make in Viet Nam’ instrumental in going global