Body Vietnam stocks plummeted nearly 4 percent on Monday, extending a market rout after a near 7 percent decline over the last two weeks, while most other stock markets in the region slipped as U.S. bond yields rose to a multi-year peak. The Vietnam index, the only double-digit percentage gainer in Southeast Asia this year as of Friday's close, marked broad-based losses, led by financials and energy stocks. Vietcombank and Petrovietnam Gas Joint Stock Corp each ended 6.9 percent lower. Most other Southeast Asian stock markets slipped, in line with broader Asia, as U.S. 10-Year treasury yields hit 2.968 percent, their highest since January 2014, a jump widely seen as a technical shift in the market following a large selloff of bonds. The Thai index shed 0.6 percent as energy and financial stocks fell. Oil and gas company PTT Pcl closed 2.7 percent lower while financial services provider, … [Read more...] about Vietnam stock market plunges nearly 4 pct to two-month low
Driven by an improving economy and foreign investment giants, Vietnam’s stock exchange has outperformed the rest of Asia so far this year. The benchmark VN-Index has risen around 17 percent since January, outpacing Asia’s main share benchmarks, and the market has more than doubled over the past two years, the Financial Times reported on Wednesday. The VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, closed at 1,150 on Tuesday. Vietnam has become a fertile land for foreign investors, the Financial Times cited analysts as saying. Foreign firms that have set up factories in Vietnam over the past decade are now contributing to its improved trade balance, including Intel and Samsung, they said, adding that Vietnam's bright economic prospects have contributed to the stock market's success. Vietnam’s economy grew 7.38 percent in the first quarter of this year, the highest rate in a decade thanks to … [Read more...] about Vietnam’s stock market posts highest gain in Asia
VietNamNet Bridge - The Vietnamese stock market in 2017 saw stock prices escalating, but not all investors could make money. The stock market in 2017 saw stock prices escalating Tuan, a 27-year-old investor, spends most of his time watching electronic boards on securities and trading floors and calling brokers. He was surprised that the CMG share price had dropped so dramatically despite the upward trend of the market. The high GDP growth rate, the government’s actions, and foreign capital flow are the three factors behind the strong rise of the stock market in 2017. ‘Too strong’, ‘crazy’ and ‘incredible’ are the words investors use to describe the rise of the stock market in 2017. RELATED NEWS GDP growth must rely on internal strength: economists Three scenarios for Vietnam stock market in late 2017 Kim Chi … [Read more...] about What’s behind the strong performance of the stock market in 2017?
VietNamNet Bridge - Vietnam plans to list 10 banks on the stock market this year, but only four have implemented the listing so far. Others are still consulting with shareholders. Banks have to list shares on the bourse Under a Ministry of Finance decision, all 730 equitized enterprises with more than 100 shareholders will have to list their shares on the bourse this year. These include 10 commercial banks, namely OCB, ABBank, Techcombank, Nam A Bank, Maritime Bank, Viet A Bank, TP Bank, SeABank, HD Bank and LienVietPost Bank. The banks have mentioned the listing, but later canceled plans for different reasons. In April, shareholders of many banks approved plans to list on the bourse. But to date, only four of them have fulfilled the plans. VIB Bank has listed 564 million shares on UpCom since January 9, but plans to shift to the HCMC bourse (HOSE) next year. Kien Long Bank listed 300 million shares on UpCom on June 29. Vietnam plans to list 10 banks on the stock … [Read more...] about Banks plan to list on stock market, but progress slow
Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate stocks, while most other Southeast Asian markets started April on a sombre note. The benchmark Vietnam index rose as much as 1.1 percent to an all-time high of 1,187.55, and has risen more than 20 percent so far this year following a 48 percent gain last year. Real estate firm Vingroup JSC climbed as much as 1.8 percent to a new high and was the biggest contributor to the main index's gain. On March 22, Vietnam's stock market rose by 0.92 percent y to close at more than 1,180 points, the highest since the record of 1.179 points set in 2007. Philippine shares were little changed in choppy trade with financials being the top losers. The decline in the financials was due to the pricing of the rights issue of Bank of the Philippine Islands, said Eagle Equities President Joseph Roxas. Bank of the Philippine Islands priced its rights issue at 89.5 pesos per share, a 23.5 percent discount to … [Read more...] about Vietnamese stock market breaks 11-year record