Markets

The market edged higher on Tuesday morning, recovering from yesterday's losses on large-cap stocks. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 10.17 points, or 0.74 per cent, to 1,382.8 points. The market's breadth returned to positive with 204 stocks climbing while 170 stocks declined. The liquidity was slightly lower than yesterday. During the morning session, over 440.3 million shares were traded on the southern bourse, worth nearly VND13.3 trillion (US$577 million). The market's recovery was boosted by gains in large-cap stocks in many sectors including banking, real estate, materials, utilities, transportation and logistics. The VN30-Index posted an increase of 14.43 points, or 0.98 per cent, to 1,492.72 points. Of 30 biggest stocks in the VN30 basket, 23 stocks jumped while only four stocks fell and three stayed unchanged. No Va Land Investment Group Corporation (Novaland, NVL) was still the biggest gainer this morning, up 4.59 per cent. It … [Read more...] about Market rebounds, VN-Index gains more than 10 points

The number of transactions in both the primary and secondary markets would decline by 30-50 percent, Huynh Phuoc Nghia, vice dean of the HCMC University of Economics's international business faculty, told VnExpress . The flow of money into all segments like apartment, villa, shop-house, and land has slowed down due to the psychological impact of the Covid-19 outbreak, he said. Prices are rigged by intermediates and investors in secondary market, so investors would find it difficult to make big profits this year, he said. Meanwhile, flows of money into the realty market are mainly loans, especially short-term ones, he said, noting that recent land fevers have driven property prices to the inflated level, inciting many investors to borrow money to buy real estates to resell them. Inflated prices of real estates have resulted in bigger bad debts which not only become a burden for the property market, but also affect the whole economy, because it takes a decade or more to solve … [Read more...] about Property market to face three big pressures: expert

A porter working at Binh Dien Market, the largest wholesale market in Ho Chi Minh City located in District 8, tested positive for the novel coronavirus in his rapid test, a district’s leader told Tuoi Tre (Youth) newspaper on Saturday. The porter, specializing in carrying fish, lived in District 1. Following the detection of his infection, local authorities disinfected the entire Binh Dien Market, where more than 20,000 drivers, customers, and merchants from different localities visited every day, and have collected samples from related people as well as carried out epidemiological investigation. About 1,000 samples were collected from people working near the porter on Friday evening, according to a representative of District 8’s medical center. Some 300 other porters at the market also took the COVID-19 test. Among them, 21 people were already sent to a centralized quarantine facility for coming into direct contact with the porter in question. Functional forces in the … [Read more...] about Porter at Saigon’s largest wholesale market has positive rapid COVID-19 test result

The mid-term outlook of the market remains bright, but in short-term, investors may face certain risks. Vietnam’s stock market continues to be an attractive investment channel from now on until late 2021, especially as factors that help attract capital to flow into the market would remain unchanged. Investor at a securities company in Hanoi. Photo: Cong Hung The Vietnam Financial Consultant Association (VFCA) made the assessment in its latest report on the local stock market. According to the VFCA, in the face of the serious nature of the fourth Covid-19 outbreak and the rollout of the vaccination program, scheduled to complete by late 2022, more investors would join the stock market. “Meanwhile, the fact that international organizations providing a positive outlook on the local economy with estimated GDP growth of 6.5-7.1% would further support market development,” it added. The VFCA also pointed out the current low-interest environment as a factor for … [Read more...] about Factors keeping capital flowing into Vietnam stock market remain unchanged

The city people’s committee announced on Saturday all temporary street markets would have to close, especially those in industrial zones with a lot of workers, amid a surge in Covis-19 cases. Seeing them, Bui Thi Hoa, owner of a flower shop, quickly covered her wares with cloth and paper. Many quickly shut shop and left with their goods on seeing the authorities. A man readies his cart, durians, plastic cans and all, to leave. Duong Anh Dung (L) and his staff take their goods from the sidewalk into his house and block it with a string to prevent customers from coming inside. A store selling china and home ware was shut down. A shop owner puts up a sign telling people not to form crowds of more than three. At Thu Duc Market, food and other goods were sold normally. The HCMC Department of Industry and Trade will warn people in markets to maintain social distance and adopt Covid … [Read more...] about Saigon street markets shut hastily as city intensifies Covid battle