Vietnam stocks close down 1.03%

Vietnam’s benchmark VN-Index started the week on a low note following Friday’s trend, leaving investors hoping for a rally following corrections.

The shares of 179 companies and four mutual funds on the Ho Chi Minh Stock Exchange lost 6.34 points or 1.03 percent to close at 609.34. Trading cooled by 37 percent in volume and 35 percent in value compared to the record high last Friday.

A total of 86.9 million shares worth nearly VND4.2 trillion (US$ million) changed hands.

The result matched the forecast of 21.7 percent of responses to a survey by local newswire Vnexpress.net last week while 58.1 percent expected the index to jump past 620 points.

Declines far outnumbered gains by 139 to 32 while 12 shares remained unchanged.

According to analysts, such short-term correction is needed before the southern shares start a new rally, hopefully to 625 this week.

Declines in the southern market were led by Long An Food Processing Export Joint Stock Co. (LAF) in the Mekong Delta province of Long An, the HCMC City-based Lu Gia Mechanical Electric Joint Stock Co. (LGC), and seafood exporter NTACO Corp. (ATA) in the delta province of An Giang.

Vietnam’s largest listed brokerage Saigon Securities Inc. (SSI) came back to the spot of most active shares with around 4.4 million shares changing hands, overcoming Viet-Han Corp. which produces cable wire in central Quang Nam Province and had nearly 4 million shares traded on the city bourse Monday. Saigon Commercial Bank or Sacombank (STB) remained in the top active three with 3.57 million shares traded.

The HNX-Index also fell further to 209.77, down 2.10 percent or 4.50 points over last Friday. Nearly 41.9 million shares worth VND1.95 trillion changed hands.

UPCoM-Index did not perform any better dropping 0.28 points or 0.37 percent to 74.77. The trade volume shrank to 89,700 with VND1.04 billion spent.

On the global market, Asian stocks gained, led by automakers and consumer companies.

Source: SGGP Bookmark & Share

Market closes week on low note

Vietnam’s benchmark VN-Index lost ground Friday, yet with a new record high in trade volume.

The shares of 179 companies and four mutual funds on the Ho Chi Minh Stock Exchange lost 8.42 points or 1.35 percent to close at 615.68. More than 137 million shares worth around VND6.45 trillion (US$361.2 million) changed hands, far past the record trade volume of 123.4 million last Friday.

Among the index members, declines outnumbered gains by 133 to 44 while six shares remained unchanged.

Declines in the southern market were led by Tan Tao Investment Industry Corp. (ITA) and Kinh Do Food Corp. (KDC), both in HCMC, and the garment material supplier MIREA Corp. (KMR) in neighboring Binh Duong Province.

Saigon Commercial Bank or Sacombank (STB) climbed to the spot of most active shares as more than 15 million were traded on the city bourse.  Vietnam’s largest listed brokerage Saigon Securities Inc. (SSI) leapt to second spot with around 6.2 million shares changing hands, followed by the city-based Refrigeration Electrical Engineering Corp. (REE) with 5.6 million shares.

HNX-Index also lost 4.11 points or 1.88 percent to 214.27. Around 47.2 million shares were traded at VND3 trillion.

Meanwhile, UPCoM-Index declined to 75.20, down 1.33 points or 1.74 percent over Thursday. The trade volume remained modest compared to last week and the day earlier as standing at 93,965. A total of VND1.48 billion was spent on the trading.

On the global market, US blue chips led a bigger stock market rally Thursday, as better-than-expected results from four components pushed the Dow industrials above 10,000 again and reassured investors about the ongoing corporate reporting period.

Source: SGGP Bookmark & Share

Eximbank’s 876 mln shares to make debut Oct. 27

The Eximbank of Vietnam announced Oct. 21 that trading of its shares, listed on the Ho Chi Minh Stock Exchange, would start on Oct. 27 at a price of VND28,000.

The price is equal to US$1.65, based on the State Bank of Vietnam’s Friday rate of VND17,007 for one US dollar.

The Ho Chi Minh City-based bank said its listing on HOSE took effect on Oct. 20 for slightly more than 876.2 million shares, coded EIB. The face value, as ruled, is VND10,000.

Eximbank said the shares on the debut date would be allowed to change 20 percent up or down from the starting price.

The bank’s prospectus is available at it head office, 7 Le Thi Hong Gam Street, District 1, HCM City; and Viet Dragon Securities Corporation (VDSC) at 147-149 Vo Van Tan Street, Dist. 3, HCMC or 72 Ba Trieu, Hoan Kiem Dist,. Hanoi.

The Ho Chi Minh Stock Exchange currently has shares of three major banks of Vietnam namely Vietcombank, VietinBank and Sacombank.

Eximbank reported its gross profit in the first nine months of this year at VND1.16 trillion (more than US$68 million, with $1=VND17,007), up 5.5 percent.

Source: SGGP Bookmark & Share

Market gains after starting week at low note

Vietnam’s benchmark VN-Index rose to its recently-set record high today as investors tune in to global trend despite two days of market losing ground.

The shares of 178 companies and four mutual funds on the Ho Chi Minh Stock Exchange gained 9.47 points or 1.56 percent over Monday to close at 616.58. Nearly 91.3 million shares worth around VND4.55 trillion (US$ million) changed hands.

Gains far outnumber declines by 139 to 29 while 14 shares remained unchanged.

According to some brokerages, hopes for bonus issuance and health third-quarter earnings reports at major listed firms have kept the market momentum going.

Vietnam largest listed brokerage Saigon Securities Inc. (SSI) remained in the spot of most active stock as 4.8 million shares were traded on the city bourse. The HCM City-based Tan Tao Industrial and Investment Corp. (ITA) came next with more than 3.4 million shares changing hands, followed by Saigon Commercial Bank or Sacombank (STB) with more than 3.36 million shares.

Declines in the southern market were led by the Thach Khe Iron Ore Investment Company in the central province of Ha Tinh, the Hanoi-based National Seed Joint Stock Co. (NSC) and HCMC-based real estate investor Van Phat Hung Joint Stock Co. (VPH).

The northern market also performed well as HNX-Index gained 4.81 points or 2.29 percent to 214.87. Around VND2.3 trillion was spent trading more than 52.6 million shares.

Meanwhile UPCoM-Index continued to rise to 75.70, up 1.31 points or 1.76 percent. Yet the trading volume dropped to 115,380, around one quarter of the day earlier. The trade value also lowered to VND1.8 billion.

On the global market, US stocks rose, sending benchmark indexes to a one-year high, on better-than-estimated earnings and speculation the economy is healthy enough for policy makers to unwind efforts to shore up the financial system, Bloomberg said.

European and Asian stocks also rose Monday as investors looked ahead to US corporate earnings reports with increased optimism over the strength of the economic recovery.

Source: SGGP Bookmark & Share

Investor confidence keeps market on high note

Vietnam’s benchmark continued to gain on Thursday with investors reassured by the shares’ solid performance on Wednesday and the bullish global market.

The VN-Index that tracks 176 companies and four mutual funds on the Ho Chi Minh City Stock Exchange rose 1.9 percent or 11.73 points to 617.38, the highest since March 14, 2008. Among the index members, 132 advanced, 32 dropped and 16 remained unchanged.

The market closed with the most active trading ever as more than 107.2 million shares worth VND5.6 trillion (US$313.5 million) changed hands, breaking the recent record by volume of 90 million shares on September 23.

Real estate, finance and banking stocks performed well.

Saigon Commercial Bank or Sacombank (STB) climbed to the most active spot as more than 8 million shares were traded on the city bourse, followed by Vietnam’s largest listed brokerage Saigon Securities Inc. (SSI) with more than 6 million shares. Vietnam Securities Investment Fund (VF1) remained in the top three active issues with more than 4.3 million shares change hands.

Declines in the southern market were led by Hai Phong-based paper maker Hapaco (HAP), the HCMC-based steel maker Vietnam-Italy Joint Stock Co. (VIS), and Thac Mo Hydropower Joint Stock Company (TMP) in Binh Phuoc Province, not far from HCMC.

The northern market continued to gain as the HNX-Index rose 2.99 percent or 6.15 points to 211.51. More than 57.8 million shares worth nearly VND2.7 billion changed hands.

The UPCOM-Index also kept up a good pace closing at 70.94, up 1.81 points or 2.62 percent from Wednesday. Trading was more than double the day earlier as 473,390 shares were traded at VND6.43 billion.

On the global market, the US Dow passed the 10,000 level for the first time in a year on earnings optimism while Britain’s FTSE 100 closed 2 percent higher at 5,256.10, hitting its highest closing level in more than a year.

Shares in Asia rose to their highest since last August while Japanese stocks jumped 2 percent as investors bought exporters who might benefit from rising US demand.

Source: SGGP Bookmark & Share

VN-Index continues record-breaking streak

Vietnam’s benchmark rallied on Wednesday from a low a day earlier to surpass 600, considered earlier by investors tough to reclaim.

The index of 176 companies and four mutual funds traded on the Ho Chi Minh Stock Exchange, or VN-Index, gained 15.76 or 2.67 percent to 605.65, the highest peak in 19 months.

Among the index members, gains outnumbered declines by 155 to 10 while 15 remained unchanged. Export, material construction, real estate and transport stocks saw a positive performance.

More active trading was seen after the bell as more than VND4.5 trillion (US$215.6 million) was spent on 85.9 million shares.

Vietnam Securities Investment Fund (VF1) was the most active stock by volume with more than 5.3 million shares traded on the city bourse. The next most active issues were Saigon Commercial Bank or Sacombank (STB) with 4.74 million shares changing hands and HCMC-based Tan Tao Industrial Park (ITA) with 3.72 million shares.

Declines in the southern market were led by pangasius processor Basa Joint Stock Co. (BAS) in the Mekong Delta’s Can Tho City, Seafood Joint Stock Company No. 4 (TS4) in HCMC and the city-based steel maker Vietnam-Italy Joint Stock Co. (VIS).

The northern market also performed well when the HNX-Index hit a high for the year, closing at 205.36 after rising 3.99 percent or 7.87 points. More than 55 million shares worth VND2.47 billion changed hands.

UPCOM-Index also kept up a good pace closing at 68.47, up 0.45 percent or 0.31 points over the previous day. A total of 202,137 shares were traded at VND2.64 billion.

Wall Street struggled on Wednesday (Vietnam time) as weakness in the financial sector and disappointment about Johnson & Johnson’s results halted the Dow’s attempt to reclaim 10,000.

In Europe, London’s FTSE 100 fell 1.1 percent while France’s CAC 40 and Germany’s DAX both lost 1.2 percent.

Japanese stocks fell, led by financial shares on concern government policies will force banks to book more loan losses. The Nikkei dropped 0.1 percent.

Source: SGGP Bookmark & Share

Market hits year-record

Southern market shares began the week on a high note, hitting a peak for the first time in more than a year and a half as more listed firms announced their third-quarter profits and with foreign investors buying.

The benchmark VN-Index, which measures 176 companies and four mutual funds on the Ho Chi Minh Stock Exchange, gained 2.12 percent or 12.31 points to 594.30 Monday. More than 76.2 million shares worth nearly VND3.85 trillion (US$215.8 million) changed hands, up from the average trade value of VND2.7 trillion last week.

Gains outnumbered declines by 151 to 15 while 14 remained unchanged. Shares of consumer goods producers, real estate, construction and steel firms saw a positive performance.

Saigon Commercial Bank or Sacombank (STB) climbed from the second position last Friday to top the list of most-active shares as more than 4 million were traded, followed by the city-based Tan Tao Industrial Park Corp. (ITA) with more than 3.3 million traded.

After the bell, HCMC Infrastructure Investment Joint Stock Company (CII), whose Monday trade volume reached nearly 2.2 million, remained in the top three.

The VN-Index has satisfied investors by outrunning its recent record of 582.84 points.

Higher demand and healthy liquidity are expected as investors are no longer worried about the market losing ground and could show more confidence in buying.

There are also concerns, however, that the market gain will trigger sell-offs and the southern bourse could struggle around 590 instead of gaining further to 600.

The northern market also gained today as the HNX-Index earned an extra 7.05 points or 3.72 percent to close at 196.7. A total of 41 million shares worth VND1.67 trillion were traded.

The UPCoM-Index closed at 67.03, up 0.8 points or 1.21 percent, with around VND1.8 billion spent trading 127,300 shares.

The US stock market is also set to continue on a positive streak this week as momentum builds during earnings season.

This week will be crucial to hopes that revenue growth has returned triumphant, as opposed to earnings surprises resulting mostly from cost-cutting.

Source: SGGP

Stock market investors’ confidence continues

The benchmark VN-Index, which tracks 179 companies on the Ho Chi Minh Stock Exchange, gained for the fourth straight day Friday as investors are still bullish about the market’s momentum.

The southern market index rose 1.77 percent, 10.15 points to 581.99, with more than 70 million shares traded at more than VND3.5 trillion (US$196.8 million).

A total of 143 share prices increased, including most blue-chip shares, 18 dropped and 18 remain unchanged.

From the opening bell, HCMC Infrastructure Investment Joint Stock Company (CII) took the top spot of most-active shares, as more than 3.22 million were traded.

Saigon Commercial Bank or Sacombank (STB) came next with more than 3.2 million, followed by the HCM City-based Refrigeration & Electrical Engineering Co. (REE) with more than 2.17 million.

VN-Index is returning to a previous high of 582.84 points after five days ending below 570. The better-than-expected result negated predictions by many experts that the market would lose steam this week.

According to analysts, the gain will help test investors’ confidence and decide whether the market will rally further or slow down after that.

Many investors are still holding shares and looking forward to higher prices.

The HNX-Index in Hanoi on Friday also closed the highest of the four trading days at 189.64, up 5.22 points, 2.83 percent, from Thursday. The trade value reached more than VND1.74 trillion with more than 42.6 million shares changing hands.

UPCoM-Index gained 0.66 points, 0.99 percent, to close at 67.57. A total of VND2.8 billion was spent trading 188,720 shares.

Global stocks also rallied today.

The US major indexes flirted with 2009 highs after the Dow component Alcoa posted better-than-expected earnings and a US report showing an unexpected drop in jobless claims.

On the New York Stock Exchange, winners beat losers by nearly three to one on a volume of 1.28 billion shares. On the Nasdaq, advancers topped decliners five to four on a volume of 2.42 billion shares.

In Europe, London’s FTSE 100 gained 0.9 percent, while France’s CAC 40 and Germany’s DAX both gained 1.3 percent. Asian markets also ended higher.

Source: SGGP