Stock Market

VN-Index briefly soars to 1,000 pointsBy Thanh Thom The façade of the Hochiminh Stock Exchange – PHOTO: THANH HOA HCMC – The benchmark VN-Index of the Hochiminh Stock Exchange briefly shot up to 1,000 points in the afternoon session today before it dipped below that level as some heavyweights came under strong selling pressure. With 171 stocks rising and 116 others sliding, the VN-Index gained 2.05 points, or a mere 0.21% at 995.54. There were over 244.4 million shares worth some VND5.1 trillion changing hands on the southern bourse, up 23.8% and 3% against the previous day, respectively. The local put-through market was active with over 38 million shares worth VND943.3 billion traded. Notably, agriculture firm HNG reported a high matching volume of over 24 million shares worth roughly VND380 billion. Among the top 10 heavyweights, dairy producer VNM slid a slight 0.1% at VND137,800 a share. Property giant VIC and brewer SAB dropped by 1% and 1.3% at … [Read more...] about VN-Index briefly soars to 1,000 points

VN-Index bounces back, trade improvesBy Phuong Thao Investors are seen chatting at Maybank Kim Eng Securities Company. The VN-Index of the Hochiminh Stock Exchange recovered today, September 18 - PHOTO: THANH HOA HCMC – The local stock market kept falling in the morning phase today, September 18, before a strong recovery led by blue chips sent the VN-Index of the Hochiminh Stock Exchange back to the positive territory. According to tinnhanhchungkhoan.vn, Vietnamese stocks went in line with the global tendency, sliding in the morning as the U.S. had announced to impose tariffs on US$200 billion worth of Chinese goods effective on September 23, before bouncing back given the rebound of regional stock indexes in the afternoon. The VN-Index closed the day up 5.88 points, or 0.6%, at 993.49, with trading volume and value on the southern market surging 20% and 27% at more than 197 million shares worth VND4.9 trillion. There were 26.2 million shares worth VND957 billion traded … [Read more...] about VN-Index bounces back, trade improves

Stocks tumble after 6-day ralliesBy Phuong Thao HCMC – High selling pressure after a six-day winning streak sent the local stock market into a correction phase today, September 17, with the VN-Index of the Hochiminh Stock Exchange losing 3.73 points, or 0.38%, at 987.61. Turnover on the southern market declined as trading volume and value shed 7.7% and 13.3% against the previous session at 164.6 million shares worth VND3.9 trillion. The put-through market saw 17.8 million shares worth nearly VND630 billion traded, including 2.58 million shares of property firm VHM valued at VND271.9 billion. Most banks closed at the intraday lows, except for VPB and TCB that gained 0.2% and 3.2% at VND24,400 and VND26,500 a share, respectively. However, lenders remained the most actively traded stocks, in which MBB led the market for liquidity with 8.4 million shares changing hands. The securities sector also saw heavy selloff, with SSI tumbling to the intraday low of VND31,300 a share after a … [Read more...] about Stocks tumble after 6-day rallies

Expert: Banks seen leading VN-Index to 1,000 pointsBy Phuong Thao Banks are expected to lead the VN-Index of the Hochiminh Stock Exchange to 1,000 points HCMC – The local stock market will receive positive support from macro-economic information in the country, with the banking sector expected to drive the VN-Index of the Hochiminh Stock Exchange to the 1,000-point mark, said a securities expert. Speaking to the press last week, Nguyen Duy Linh, director of Saigon Securities Incorporation’s individual customer brokerage division, said investor concerns over the U.S. Federal Reserve’s interest rate hikes or the trade war between China and the U.S. had been priced into the recent downtrend. After strong net withdrawal due to global uncertainties, foreign investors have shifted to the buying side, with their net buying value hitting a two-month high on September 11. This is a positive signal for the market, Linh was cited by vietstock.vn as saying. Further, the … [Read more...] about Expert: Banks seen leading VN-Index to 1,000 points

Banks keep index up for fifth dayBy Phuong Thao HCMC – A strong recovery at bank stocks kept the VN-Index of the Hochiminh Stock Exchange up for the fifth consecutive session today, September 13, though selling pressure did pile up at the resistance level of 990 points. With 171 rising stocks versus 112 others losing, the main index rose a slight 0.94 point, or 0.1%, against the previous day at 987.95. Trading volume and value on the southern bourse, meanwhile, dropped 6% and 7% to 172.9 million shares worth VND3.8 trillion. Many blue chips put pressure on the main index, with dairy firm VNM sliding 0.2% at VND132,100 a share and gas group GAS dropping 0.9% at VND108,000 a share. On Wednesday, GAS led the market uptrend for jumping to a four-month high and surging 50% over the last two months, after the price of Brent crude oil popped to above US$79 per barrel in overnight trading. Notably, foreigners net sold nearly two million shares of GEX, sending the stock down 0.3% at … [Read more...] about Banks keep index up for fifth day