On Ho Chi Minh Stock Exchange (HoSE) represented by the VN-Index, 202 stocks gained while 127 stocks lost. HoSE accounts for a 90 percent market cap of all Vietnam’s listed companies. Liquidity of order-matched transactions plunged to VND2.79 trillion ($120.4 million) from VND2.9 trillion ($125.15 million) the previous session, well below last month’s average of VND3.5 trillion ($151.79 million). The VN30-Index for Vietnam’s 30 biggest market cap companies also added 0.74 percent, with 20 stocks gaining and 5 losing. MSN shares of food giant Masan Group led gains this session, clawing back 5 percent after losing a total 20.85 percent between Wednesday and last Tuesday. Stocks had plummeted last Tuesday when Masan announced a merger deal with Vingroup, Vietnam’s biggest conglomerate, the biggest losing stock on the VN30 for 5 sessions since. Vietnam’s three biggest state-owned lenders by assets all posted positive results, … [Read more...] about VN-Index posts gains in cautious session
Real estate
Fed’s signal of no rate hike boosts shares
Passengers disembark a Vietjet aircraft. Vietjet (VJC) rose 0.9 per cent on Thursday. —Photo vietjet.com HÀ NỘI — Markets rallied for the second consecutive session on Thursday, partly thanks to the Fed’s Wednesday announcement that it would keep interest rates unchanged and forecast no cuts or hikes in 2020. The central bank’s move helped boost market sentiment, Saigon-Hanoi Securities Co said in its daily report. The VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) rose 0.66 per cent to end Thursday at 968.17 points. Nearly 219 million shares worth almost VNĐ4.2 trillion (US$182 million) were traded on the southern market. The benchmark index increased 0.15 per cent to end Wednesday at 961.78 points. Market breadth was positive with 202 shares gaining and 127 declining. The large-cap VN30-Index soared by 0.74 per cent to stand at 884.80 points. Bank stocks expanded at the end of the trading session, supporting … [Read more...] about Fed’s signal of no rate hike boosts shares
Local firms urged to engage more in CSR activities
CSR Local firms urged to engage more in CSR activities By Staff writers Thursday, Dec 12, 2019,20:27 (GMT+7) Local firms urged to engage more in CSR activitiesBy Staff writers Panelists are seen at the “Spreading the spirit of CSR among businesses” seminar, held by the Saigon Times Group in HCMC on December 12 – PHOTO: SGT HCMC – Local firms should have a better understanding of corporate social responsibility (CSR) and should become more involved in it, as doing social events not only supports local communities, but also helps them grow more sustainable, according to panelists at the merit ceremony of the Saigon Times CSR 2019 program. The editorial board of the Saigon Times Group held a CSR seminar as part of the “Saigon Times CSR 2019” Merit Ceremony at the Caravelle Hotel in District 1, HCMC, today, December 12. Nguyen Thi Ngoc Dung, chairwoman of Phu Nhuan Jewelry (PNJ), noted … [Read more...] about Local firms urged to engage more in CSR activities
Conversations with Vietnamese billionaire Pham Nhat Vuong – Part 1
Pham Nhat Vuong, the chairman of Vietnam’s largest homegrown conglomerate Vingroup, sat down for an interview with Tuoi Tre (Youth) newspaper to discuss how he has expanded the company’s umbrella from property development to car-making and smartphone production. Vuong spent several hours speaking with Tuoi Tre about topics ranging from the conglomerate’s new ventures, its attraction of talent, Vingroup’s corporate culture, and his own family and ultimate purpose in life. 2018 was a big year for Vingroup, one of Vietnam’s leading private enterprises in several fields including agriculture, real estate, entertainment, technology, health care, and education. Just in that year, the conglomerate opened Vietnam’s tallest skyscraper, Vincom Center Landmark 81, in Ho Chi Minh City, introduced VinFast cars in Paris, and rolled out VinFast electric motorbikes. It also began building VinUni, a university on a par with international … [Read more...] about Conversations with Vietnamese billionaire Pham Nhat Vuong – Part 1
Minister: Private economy a driving force in Vietnam
Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA) Hanoi (VNS/VNA) - Minister of Planning and Investment Nguyen Chi Dung talks to the Vietnam News Agency on the Government’s resolve to help private enterprises become a mainstay in the national economy. A: What has the Ministry of Planning and Investment advised the Government regarding the private sector? Q: The 5th Resolution of the 12th Party Central Committee considers the private sector an important driving force in the national economy. More recently, the Government has listed the task as an important motivation for the nation to advance in 2019. To achieve this goal, the Ministry of Planning and Investment has advised the Government to issue Resolution 02 on the improvement of the investment environment and slash many more business conditions. We hope Resolution 02 will be strictly implemented by all ministries, sectors and localities. We should also raise our awareness on the role of the private … [Read more...] about Minister: Private economy a driving force in Vietnam