Stock market

Cows are fed at a Vinamilk (VNM) farm. VNM declined 1.6 per cent on Wednesday.— Photo vietnamplus.vn The VN-Index slumped on Wednesday as supply increased in the afternoon trading session, causing blue-chips to lose ground. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) lost 0.55 per cent to close at 1,012.77 points. Nearly 287 million shares were traded on the southern bourse, worth VND6.75 trillion (US$288.5 million). On the southern stock market, declining stocks outnumbered gainers by 202 to 105, while 83 stocks ended flat. The index had risen 0.16 per cent to close Tuesday at 1,018.33 points. Many large-cap stocks suffered from the sell-offs, including Vietcombank (VCB) (-1.3 per cent), dairy firm Vinamilk (VNM) (-1.6 per cent), real estate developer Vinhomes (VHM) (-0.7 per cent), brewery Sabeco (SAB) (-1.2 per cent), Techcombank (TCB) (-1.6 per cent), Vingroup (VIC) (-0.3 per cent), steelmaker Hoa Phat Group (HPG) (-1.5 per cent), Masan Group (MSN) (-0.9 … [Read more...] about Blue-chips dip as supply soars

An awaited return The upcoming annual general shareholders’ meeting of Minh Phu Corporation scheduled to take place on March 9 will cast vote on whether to list the corporation. The exact date for the firm’s return to the Vietnamese public market remains undecided. Minh Phu, one of Vietnam’s top seafood firms, voluntarily left the Ho Chi Minh City Stock Exchange on March 31, 2015, stating that it needs time to restructure its business and find suitable foreign partners. According to the firm, its listed stock price at the time did not reflect the true value of the company, making it a prudent decision to quit the public market. At the time of leaving, Minh Phu’s stock stood at VND122,000 ($5.36), meaning the firm’s capitalisation was VND700 billion ($30.8 million). To prepare for the official comeback, Minh Phu has floated its shares on the Unlisted Public Company Market last October, quoting prices at VND79,000 ($3.47) apiece. The stock has been … [Read more...] about Leading seafood firm Minh Phu Corp plots return to stock exchange

A Coteccons building project. The firm's shares fell 1.9 per cent on Thursday morning. — Photo coteccons.vn Viet Nam’s benchmark VN-Index advanced on Thursday morning, driven by energy firms on the increase of oil prices. The VN-Index on the Ho Chi Minh Stock Exchange was up 0.22 per cent to end at 1,014.95 points. The benchmark index fell 0.55 per cent on Wednesday. More than 92 million shares were traded on the southern bourse, worth VND1.77 trillion (US$76.2 million). Energy and petroleum stocks boosted the southern market index up following a strong rebound of oil prices on Wednesday night. Brent crude gained 0.8 per cent to end Wednesday at $62.54 a barrel. On the Vietnamese stock market, PetroVietnam Gas (GAS) rose 1.8 per cent, PetroVietnam Drilling and Well Services (PVD) edged up 0.6 per cent. Other sectors that also performed well included healthcare and pharmaceuticals, food and beverage, wholesale and utilities. On the opposite side, investors were quite … [Read more...] about VN-Index ends positive as oil price growth lifts energy firms

A corner of the Binh Son Refining and Petrochemical Corporation's plant in Dung Quat Economic Zone. — Photo cafef.vn Listed companies should make corporate news more transparent to boost share prices, according to the Ha Noi Stock Exchange (HNX). A total 237 companies on the Unlisted Public Company Market (UPCoM) – a HNX sub-market – have joined the listed firms’ assessment of information disclosure for 2018-19. The number of assessed firms was up by 77 from the previous year. Those firms’ value accounted for 75.7 per cent of the market’s total. The results showed large-cap firms on UPCoM scored an average 61.40 points, up 1.65 points from 2018. Fifty-three per cent of the 237 firms were graded above standard level. Large-cap firms in the UPCoM-Large basket such as Bac A Joint Stock Commercial Bank (BAB), Binh Son Refining and Petrochemical JSC (BSR) and Idico Corporation (IDC) that have larger market cap and total assets had a higher average score … [Read more...] about Better disclosure means higher share prices for UPCoM firms: HNX

Bitel, a subsidiary of the Viettel Military Industry and Telecomes Group in Peru, introduces its 5G testing programme in Ha Noi. — Photo Viettel Bitel, a subsidiary of the Viettel Military Industry and Telecomes Group in Peru, reported that its total revenue reached $274.2 million and profit before tax of $24.5 million in the first nine months of this year. Viettel Peru's profit before tax exceeded the plan and increased by 2.5 times over the same period last year, while revenue growth reached double digits. Currently, Bitel is operated by the Viettel Foreign Investment Joint Stock Corporation (Viettel Global), but Bitel's business results have not been incorporated into Viettel Global's report due to the law provisions in Peru. Therefore, if calculating the total profit from foreign investment activities in the first nine months of this year made by Viettel Global, the figure will be more than $91 million, of which, nine-month profit before tax is $66.5 million and that of … [Read more...] about Viettel Peru gained more than US$24.5 million in nine months