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
Bao vn net
VN-Index climbs, nearing 1,000 points
58465944PM.jpg)
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
Funds suffer losses on poor market performance
Viet Nam News HÀ NỘI — Over the past year, most investment funds in Việt Nam’s equity market have seen negative growth in net asset value per share (NAVPS) due to the poor performance of the market indices. NAVPS is an expression for net asset value that represents the value per share of a mutual fund, exchange-traded fund (ETF) or a closed-end fund. It is calculated by dividing the total net asset value of the fund or company by the number of shares outstanding. NAVPS is also referred to as the book value per share. This year, the stock market witnessed the choppiest year since the 2008 global financial crisis. The VN-Index declined for the first time after five consecutive years of rallying in parallel with the growth momentum of the economy. It achieved a record high gain of 47 per cent in 2017. The VN-Index, Viet Nam’s benchmark stock index, set an all-time peak of 1,211 points on April 10, but then suffered a sharp decline of 27 per cent, to … [Read more...] about Funds suffer losses on poor market performance
No sudden impacts on Vietnam from FED rate hike
On December 19th, FED lifted the benchmark lending rate by 0.25 percentage point to a rage of 2.25-2.5 percent per year.Although global stocks have tumbled following FED’s move, the benchmark VN-Index on the Ho Chi Minh Stock Exchange extended its growth at the beginning of the session on December 20th. However, selling pressure of large-cap shares resulted in a fall in their prices, making VN-Index dip in red margin. Also, the foreign players net bought VND280 billion (USD12 million) on the bourse, helping the VN-Index experience only a slight decrease of 0.11 percent to 918.24 points.FED rate hike will not impact Vietnamese monetary market much. (Photo: nld.com.vn)In stark contrast, the HNX-Index on the northern bourse rose 0.35 percent to close at 104.53 points on the day.According to Ngo Dang Khoa, head of Global Markets at HSBC Bank Vietnam, as FED’s decision came at the expectation of the market, it does not have critical influence on Vietnam’s fiscal and … [Read more...] about No sudden impacts on Vietnam from FED rate hike
BUSINESS NEWS IN BRIEF 21/12
Vietnam, New Zealand networking event discusses CPTPP The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues. The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies. It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force. Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support … [Read more...] about BUSINESS NEWS IN BRIEF 21/12