Stock Market

This year, major international organizations forecast that the world economy will continue its downward trend, of which developed economies will have a growth rate of 0.3 percent lower than last year and emerging economies will keep the same growth rate of last year of about 4.7 percent. However, Vietnam's economy is still forecast to be optimistic, with GDP up 6.6 percent to 7 percent. Sai Gon Giai Phong Newspaper recently had an interview with Ms. Ta Thanh Binh, head of the Securities Market Development Department under the State Securities Commission (SSC). SGGP: In your opinion, what are highlights of 2018? Ms. Ta Thanh Binh: Last year, the Vietnam’s securities market experienced several fluctuations due to complex economic, financial and monetary situation in the world. However, the country’s securities market was still able to achieve and maintain impressive results amid the situation. By the end of 2018, the Vietnam’s benchmark VN-Index was at 892.54 points, … [Read more...] about Securities market needs improvement to attract investment

Stocks surge after last Friday's correctionBy Phuong Thao HCMC – With most oil and gas stocks gaining, the local stock market bounced back strongly today, February 18, after last Friday’s correction, sending the VN-Index of the Hochiminh Stock Exchange edging up above the resistance level of 960 points. The index jumped 10.41 points, or 1.09%, to end the day at 961.3, as gainers outnumbered losers by 174 to 131. The southern exchange saw 194.6 million shares worth around VND4.1 trillion changing hands, up 21.1% and 6.9% versus the session earlier, respectively. Among the oil and gas stocks, fuel group GAS became the biggest advancer as it added 3.4% at VND97,200 per share. Petroleum retailer PLX surged 4.1% to close at an intraday high of VND59,000 and PVD, a drilling firm, climbed 4.7% at VND17,850. Other big-cap stocks gave nice contributions to the main index, in which dairy firm VNM added 1.3% at VND142,000. VIC, a leading property company, increased 1.5% at … [Read more...] about Stocks surge after last Friday’s correction

Market to see further profit taking this weekBy Phuong Thao HCMC – Securities enterprises have predicted the market will drop further this week as profit taking is seen accelerating after recent strong gains. Last Friday, domestic stocks corrected from a four-day rally on strong selling pressure as investors attempted to lock in profits from the surging markets. Banks and property developers were among those hit by strong selloff, falling 0.2% and 0.6%, respectively. The VN-Index of the Hochiminh Stock Exchange dropped 0.15% to close at 950.89 points. For the week, the index still jumped 4.7% for its best week in eight months. The market was dragged lower by modest losses in large-cap names such as lender VCB, property company VIC and its subsidiary VHM while fuel group GAS hit a two-month high to lead gainers. Profit-taking affected all 20 sectors on the stock market with nine sector indices ending on a negative note while others gained modestly. On the Hanoi Stock Exchange, … [Read more...] about Market to see further profit taking this week

VIC drives VN-Index upBy Thanh Thom A man walks past an electronic stock quotation board – PHOTO: THANH HOA HCMC – Many small stocks came under profit-taking pressure today, February 14, but the VN-Index of the Hochiminh Stock Exchange still gained, largely backed by leading property developer VIC and its affiliates. The index added 7.09 points, or 0.75%, over the previous session to close at 952.34 points, with 142 stocks rising and 155 others falling. Trading volume slipped 15.9% at 181 million shares, and its value declined a slight 3% at some VND4.8 trillion. The local put-through market was active with around 24.4 million shares worth more than VND1.5 trillion changing hands. VIC was the top index contributor as the firm gained 3.58% at VND112,900 per share with matching volume totaling about one million shares. Meanwhile, its housing subsidiary VHM and its fellow retailer VRE advanced 2.38% and 3.62% respectively at VND81,900 and VND31,500. They saw a total … [Read more...] about VIC drives VN-Index up

VN-Index soars to 945 pointsBy Thanh Thom An employee at Maybank Kim Eng follows stock quotations on a computer. Local stocks rallied for the third session in a row after the end of the Lunar New Year or Tet holiday – PHOTO: THANH HOA HCMC – The VN-Index of the Hochiminh Stock Exchange jumped for a third day today, closing up 0.82% over the previous session at 945.25 points, buoyed by strong demand. As profit-taking pressure hit some large stocks on the southern bourse in the morning, the benchmark VN-Index edged up slightly. However, thanks to the increased demand, the index rallied later to close at the highest level of the day, with 193 stocks advancing and 100 others declining. Trade on the market rose by 14% in volume and 18.9% in value against the previous session to more than 215.2 million shares and roughly VND5 trillion. The bourse saw some 39 million shares worth over VND1.2 trillion changing hands. Among the top 10 stocks by market capitalization, … [Read more...] about VN-Index soars to 945 points