Vietnam’s benchmark VN-Index on the Ho Chi Minh Stock Exchange reached 1,000 points in the morning session but then reversed to fall 0.15 per cent in the afternoon session, ending Tuesday at 992.45 points, due to increased selling pressure. Investors at Bao Viet Securities Co’s trading floor in Hanoi. - VNS Photo Truong Vi The southern market index increased 1.47 per cent on Monday. On the Hanoi Stock Exchange, the HNX-Index lost 0.26 per cent to end the session at 108.24 points. It gained 1.18 per cent on Monday. A total of 356 million shares worth a combined VND5.73 trillion (US$246 million) changed hands on the two bourses. The VN30, which tracks the top 30 shares by market value and liquidity on the Ho Chi Minh Stock Exchange, decreased 0.51 per cent to end at 923.66 points. Shares gained in the morning because of the large purchasing power focused on banking-finance stocks such as Bank for Investment and Development (BID), Vietcombank (VCB), Vietinbank (CTG) … [Read more...] about VN Index fails to maintain 1,000 points
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VN-Index climbs, nearing 1,000 points
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Viet Nam News HÀ NỘI – Vietnamese shares advanced on Monday with positive investor confidence in global market moves, but strong selling pressure could be a challenge in the coming days. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose as high as 999.9 points – the highest level since October 5, 2018 – on Monday before selling pressure limited gains. It closed at 994.43 points, a gain of 0.56 per cent. The VN-Index was expected to touch the 1,000 points this year, VNDirect Securities Corp said in its 2019 market outlook. Last week, the VN-Index gained a total of 4 per cent over five trading days. Since the beginning of the year, it has gained 13.2 per cent. More than 227.7 million shares were traded on the southern bourse, worth VNĐ5.2 trillion (US$223.8 million). The market rally was attributed to positive global market moves, as sentiment was bolstered by the US’s decision to delay its tax hike on Chinese … [Read more...] about VN-Index climbs, nearing 1,000 points
BUSINESS NEWS IN BRIEF 27/11
Enterprise Rent-A-Car to enter Vietnamese market The US’s biggest car rental company, Enterprise Rent-A-Car, will officially offer its services in Viet Nam starting on November 29. The company’s website enterprise.vn is now opening for rental services, with vehicles of five to 29 seats. The prices range from VND800,000 (US$34.19) a day for a Suzuki Vitara to VND2.6 million per day for a Samco bus. Enterprise’s car rental services in Viet Nam (and Asia) are licensed to MP Executives – a subsidiary of MP Group – which has more than 23 years of experience in the logistics industry in Viet Nam. Viet Nam is the first country in Asia to use Enterprise’s car rental service. In addition to providing services in the US, Enterprise is available in 84 other countries. Vingroup opens three technology firms Vingroup’s goal in the next 10 years is to become a world-class technology-industry-service corporation in which technology plays a major role. — … [Read more...] about BUSINESS NEWS IN BRIEF 27/11
Market short-term outlook remains negative
Việt Nam’s benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.12 per cent to finish last week at 898.19 points, decreasing 1.76 per cent on a weekly basis.— VNA/VNS Photo HÀ NỘI — Banks and petroleum companies helped cushion the market on Friday, but the near-term outlook for the Vietnamese stock market remained pessimistic, according to analysts and securities firms. Việt Nam’s benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.12 per cent to finish last week at 898.19 points, decreasing 1.76 per cent on a weekly basis. The HNX Index on the Hà Nội Stock Exchange gained nearly 2 per cent on Friday to end at 103.01 points and closed last week level. The local stock market underwent a volatile trading week as investors remained cautious on a shortage of supportive news, the potential risks of China-US trade tensions, and worries about further Fed rate hikes. Caution among investors resulted in … [Read more...] about Market short-term outlook remains negative
CPTPP approval lifts export stocks
The approval of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade pact helped lift export stocks while other sectors ended Tuesday deep in negative territory. The benchmark VN Index on the Ho Chi Minh Stock Exchange dropped 1.39 per cent to close at 905.38 points. It gained 0.42 per cent on Monday.-VNA/VNS Photo The benchmark VN Index on the Ho Chi Minh Stock Exchange dropped 1.39 per cent to close at 905.38 points. It gained 0.42 per cent on Monday. The HNX Index on the Ha Noi Stock Exchange lost 0.87 per cent to end at 102.47 points, retreating from a 0.35 per cent gain made in the previous day. Export industries such as the seafood and textile-garment sectors benefited from the National Assembly’s vote to approve Viet Nam’s membership in the CPTPP trade pact on Monday, which connects 11 economies across the Asia-Pacific region and goes into effect next year. Exports are projected to grow by 4.2 per cent, Bao Viet Securities JSC (BVSC) … [Read more...] about CPTPP approval lifts export stocks