PetroVietnam Gas Corporation's engineers at a facility. The company shares gained 0.7 per cent on Friday morning. — Photo vietnamfinance.vn Vietnamese shares advanced on Friday morning as positive moves of global crude helped boost the local petroleum sector. The benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 0.29 per cent to close at 971.02 points. The southern market index had gained a total of 0.82 per cent in the previous two days. The minor HNX-Index on the Ha Noi Stock Exchange rose 0.44 per cent to end the morning session at 103.17 points. The northern market index has increased by total 1.10 per cent since Wednesday. More than 150.7 million shares were traded on the two bourses, worth VND2.57 trillion (US$111.3 million). The stock market received a strong boost from the energy and petroleum sector thanks to the gains of oil prices. Brent crude and WTI edged up 0.52-0.65 per cent during the day to trade at $59.47-64.62 a barrel. Petroleum stocks such as … [Read more...] about Oil prices up, VN stocks keep progressing
Vietnams benchmark vn index
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
Vietnam highly likely to be upgraded to second emerging market next September
The upgrade is likely to widen Vietnam’s access to large funds allocated according to the FTSE Emerging Index, including Vanguard FTSE Emerging Market ETF. FTSE benchmark. Source: FTSE, KB Securities Vietnam. Vietnam is has good chance of winning the second emerging market status in the next review in September 2020 by FTSE Russell, a leading global provider of financial services, according to KB Securities. Vietnam is currently in the Frontier market group, and was added to the FTSE Russell’s watchlist for posible upgrade to Secondary Emerging Market in September 2018. However, after one year of review, Vietnam only met seven out of nine criteria of FTSE. The criterion of “Settlement – rare incidence of failed trades” was not evaluated. The brokerage believed that this is not a big issue, simply due to the low supply of information from the State Securities Commission (SSC), while the “clearing & settlement … [Read more...] about Vietnam highly likely to be upgraded to second emerging market next September
Securities stocks lose shine for investors
Inside a Mirae Asset Securities Co's company. With strong financial capability, Korean investors have quickly increased their charter capital and become a formidable competitor to domestic firms. — Photo thebank.vn Shares in securities companies seem to have lost their shine for investors in the face of fierce competition from foreign-invested firms. Securities stocks are favoured by speculative investors thanks to their high liquidity. However, this group has gone quiet in the latter half of this year despite several tides on the stock market. Shares in big companies such as Saigon Securities Inc (SSI), Ho Chi Minh Securities Corp (HCM), VNDirect Securities Co (VND), Vietinbank Securities Co (CTS) and Sai Gon-Ha Noi Securities Co (SHS) have lost 20-50 per cent of their value this year. SSI, Viet Nam’s biggest brokerage company, plunged 26.5 per cent this year, sliding from nearly VND27,000 (US$1.16) to around VND20,000 this week. HCM has also lost more than 50 per cent, … [Read more...] about Securities stocks lose shine for investors