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Tag Archive for ‘VN-Index’

Nov 9: VN-Index decreases after a two-day rise

HA NOI (VNS)– Shares retreated in HCM City this morning after two sessions of rises, while the Ha Noi bourse saw a rally. On the HCM City Stock Exchange, the VN-Index closed 0.06 per cent off, reaching 385.36 points. Trading was sluggish, with only 13.3 million shares worth a turnover of VND157.6 billion (US$7.5 million) changing hands. Among the 30 leading shares in terms of capitalization and liquidity, 11 codes tumbled while seven added value. Others finished unchanged. These blue chips failed to hit their ceiling prices as they had during yesterday’s session. The VN30, tracking…

Nov 8: Mixed morning for Vietnam stock exchanges

HA NOI – Yesterday’s trading boost as a result of the ‘Obama effect’ appeared to be wearing off this morning, with both major bourses seeing a fall in transactions as traders reverted to caution. Shares continued to add value in HCM City but lost ground in Ha Noi. The VN-Index on the HCM City Stock Exchange gained 0.67 per cent to reach 383.44 points. Transaction value on the bourse dropped slightly to VND206.6 billion (US$9.8 million), as 13.5 million shares changed hands. Of the 30 leading shares tracked by the VN30, advancers outnumbered decliners by 10 to 8. Companies in the…

Vietnam bourses follow global rally trend

Shares rallied to reverse the previous day’s losses on both bourses on November 7, mirroring the gains on the global market prompted by Obama’s triumph. On the HCM Stock Exchange, the VN-Index edged up 1 percent to 380.90 points. Gainers outnumbered losers by 170-63. Market value on the southern bourse reached only 380.6 billion VND (18 million USD), however, falling 40 percent compared to Nov. 6′s level. Trading volume totaled 31.15 million shares. Nine of the 30 leading shares by liquidity and capitalization hit their ceiling prices. The high performers were insurer Bao Viet (BVH), Vietinbank (CTG), Vietcombank (VCB), steelmaker Hoa Phat (HPG), sugar processor Bourbon Tay…

Obama win boosts local bourse

HA NOI (VNS)- America’s vote of confidence in re-elected President Barack Obama yesterday led to traders showing confidence in the market, as shares rallied to reverse Tuesday’s losses. Global stocks gained as soon as news filtered through of Obama’s triumph and the Vietnamese stock market shed its usual independence to mirror this trend. Analyst Hoang Vu for the financial website vietstock.vn said the US president election cycle usually has a significant impact on stock indices. “Many studies on the relationship between stocks and the election show that the market works better under the…

Bank scandal flattens Vietnam market

HA NOI (VNS)— Shares failed to rally on the nation’s stock exchanges yesterday, with leading indices closing essentially unchanged as investors remained uncertain about the circumstances surrounding last week’s resignation by former Sacombank chairman Dang Van Thanh. Rumours about the scandal have fanned market concerns about the stability of the banking system. Reflecting those concerns, Eximbank (EIB) also saw heavy trades yesterday, with 21.3 million shares worth VND326 billion (US$15.5 million) sold through the negotiation method. Trades of the bank’s shares through negotiation have climbed to more than 130 million units overall in the past months– around 10 per…

Downtrend Seen In Vietnam Extending As Sentiment Down

Securities enterprises predict that a recovery is unlikely this week as investor sentiment has become weaker given rumors on further arrest of a popular name in the banking industry. Last Friday, the VN-Index dropped by a sharp 3.27% to 375.26 points on strong liquidity. Bear­ish bias was accelerating as the benchmark index moved below its […]

Nov 6: Vietnam Shares Lose Value As Blue Chips Tumble

HA NOI – Shares did not rally this morning, presumably because no one has explained why Sacombank’s (STB) chairman Dang Van Thanh resigned. Thanh also wanted to resign as member of the board, but the final decision will be made after the bank’s next meeting. On the HCM City Stock Exchange, the VN-Index lost 0.43 per cent to reach 375.65 points. Trading value this morning was about 70 per cent of yesterday’s entire session, or VND260.6 billion (US$12.4 million), as 19.9 million shares changed hands. Blue chips continued to decline. Property developer Tan Tao bottomed out, while…

Nov 05: Blue chips help buoy HCM City share market

HA NOI (VNS)– Investors hunting for bargains after the hard fall on Friday, pushed up the VN-Index on the HCM City Stock Exchange which climbed 0.46 per cent to 377 points this morning. Trading was sluggish, however, as just 18.2 million shares, worth VND218.7 billion (US$10.4 million), changed hands. Large-cap shares recovered, tracked by a modest increase of 0.61 per cent in the VN30 Index to 444.6 points. After Dang Van Thanh resigned from his post as chairman of Sacombank (STB) on Friday, the bank’s share slide slowed this morning to a mere 0.5 per cent…

Sacombank’s affair causes $1 bln market cap loss

The resignation of Dang Van Thanh, founder-cum-chairman of the board of directors of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) , caused a VND22.25 trillion ($1.07 billion) market capitalization loss on Friday. The capitalization of Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) incurred VND20 trillion and VND2.253 trillion losses by the end of the trading session, respectively. According to statistics from HoSE and HNX, by the end of Friday, their market capitalization declined to VND609.700 trillion and VND78.883 trillion compared to the previous day, respectively. The Friday trading…

Sacombank chairman steps down; stocks plummet

The Vietnamese stock market has seen the worst day since August 28, 2012, a week after the date when financial mogul Nguyen Duc Kien was arrested . • Most bank shares dropped to floor prices • Dang Van Thanh, chairman of Sacombank, steps down • Thanh’s wife leaves post while son cuts down holdings • Central bank pumps US$259.18 million The Friday trading session is also the worst-performing of the local stock market so far this year. The benchmark VN-Index of…