VN-Index beats strong resistance Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – The stock market broke through the strong resistance level of 570 points on May 28 with banking stocks such as CTG and BID being the main contributors. The VN-Index closed at 572.97, jumping 6.49 points, or 1.15%, against the session earlier. Liquidity on the Hochiminh Stock Exchange sharply improved with volume and value soaring around 32% to 152 million shares worth VND2.3 trillion (US$105 million). FLC continued taking the lead in terms of liquidity with over 25.5 million shares changing hands, shooting up to the ceiling price of VND9,500 a share thanks to its supporting information. DLG also stood out as it hit the upper limit with trading volume of 6.9 million shares. The Hanoi market also closed at above the strong resistance of 83 points, buoyed by banking tickers ACB and SHB. The HNX-Index gained 1.93 points, or 2.36%, from the previous day at 83.65. According to Viet Capital … [Read more...] about VN-Index beats strong resistance
Shanghai stock exchange composite index
VietNamNet Bridge - Though the VN Index has lost 3.76 percent, the Vietnamese stock market is still listed among the best performing markets in the world. A report from World Market Indices (Indexq) showed that Abu Dhabi and Israel, the best performing stock markets in the world, saw zero percent growth rate over the last month. Meanwhile, Vietnam, with the 3.76 percent decrease in the stock index, is still among the world’s best performing markets. The closing VN Index on August 26 stood at 545.89 points, representing a 6.2 percent decrease compared with two months ago, when the government released Decree No 60 on lifting the ceiling on the rate of foreign ownership in Vietnamese enterprises. Just one month ago, the VN Index was still at the year’s highest peak of 635 points, which, according to Indexq, was the fastest-growing index in the world at that time. However, this gain could not be maintained as the index has lost 14 percent of its value within one … [Read more...] about Vietnam remains among world’s best stock markets
Chinese stocks jumped on Monday after Beijing unleashed an unprecedented series of support measures over the weekend to stave off the prospect of a full-blown crash that was threatening to destabilize the world's second-biggest economy. In an extraordinary weekend of policy moves, brokerages and fund managers vowed to buy massive amounts of stocks, helped by China's state-backed margin finance company, which in turn would be aided by a direct line of liquidity from the central bank. Investors, who had ignored official measures to prop up the market as equity indexes slid around 12 percent last week, finally reacted, with the CSI300 index of the largest listed companies in Shanghai and Shenzhen jumping 4 percent, while the Shanghai Composite Index gained 3 percent. Blue chips, the explicit target of the stabilisation fund, outperformed stocks on the small-cap ChiNext indexes. The rapid decline of China's previously booming stock market, which by the end of last week had fallen around 30 … [Read more...] about Chinese stocks jump after Beijing unleashes emergency support
HA NOI (Biz Hub) —Stock markets ended higher across Asia on Tuesday. In Viet Nam, the HNX Index gained 0.37 points to close at 60.04 , while in HCM City, the VN Index climbed 4.37points to finish the day at 474.53 In China, the benchmark Shanghai Stock Exchange Composite Index (SHCOMP) gained 25.47 points to close at 2,237.98. The Hang Seng Index (HSI) climbed 226.00 points to close at 22,976.65 in Hong Kong, while in Singapore, the Straits Times Index (STI) jumped 35.69 points to finish on 3,123.9. In Japan, the Nikkei 225 (NKY) added 218.13 points to 14,423.36, while the Topix Index (TPX) gained 17.22 points to end trading at 1,190.22.— VNS … [Read more...] about Asian investors gain on Tuesday
In China, the invisible hand of the market sometimes needs help from the iron fist of the state. That’s certainly true after a meltdown vaporized $3.5 trillion in the value of shares traded on the Shanghai and Shenzhen exchanges. President Xi Jinping’s government isn’t being subtle in its campaign to reflate the bubble it had a big role in creating. The government has suspended initial public offerings and eased rules on margin loans, even allowing investors to use their homes as collateral to borrow money to buy stocks. On June 27, the People’s Bank of China cut its benchmark interest rate and the amount of reserves certain banks are required to hold. Days later, it offered financial support to a group of 21 brokerages that have pledged to buy 120 billion yuan ($19.3 billion) worth of shares and hold them for a year. On July 8, China’s securities regulator banned major company shareholders (those with stakes exceeding 5 percent), corporate executives, and … [Read more...] about Who blew up China’s stock bubble?