Markets

Vietnamese shares declined on Friday morning as global markets moved to the negative territory on worries about the world’s economic prospects. — Photo tinnhanhchungkhoan.vn Vietnamese shares fell sharply on Friday morning, dragged down by low investor confidence in the prospects of global stocks. The benchmark VN Index on the HCM Stock Exchange lost 0.96 per cent to close at 954.25 points. The southern market index dropped 0.56 per cent on Thursday. The HNX Index on the Ha Noi Stock Exchange slipped 0.69 per cent to end at 107.17 points. The northern market index was down 0.55 per cent in the previous session. More than 102.5 million shares were traded on the two local exchanges, worth VND2.15 trillion (US$95.5 million). The budget issue in Italy, tension between the US and Saudi Arabia, and the escalation of China-US trade tensions shook the world’s markets on Thursday night. The decline of global stocks had negative impacts on the Vietnamese market on Friday … [Read more...] about Global news hits VN stocks hard

Employees monitor stock trades at the secondary securities trading floor of Hà Nội Securities Trading Centre (HASTC). — VNA/VNS Photo Huy Hùng Vietnamese stocks retreated on Thursday morning as negative sentiment on the global stock market hit investor sentiment. The major indexes on the US stock market fell on Wednesday after the Fed announced details of its meeting in September showing a high consensus to raise interest rates. The benchmark VN-Index on the HCM Stock Exchange dropped 0.56 per cent to close at 966.14 points. The southern market gained 0.85 per cent to close Wednesday at 971.60 points. The HNX Index on the Ha Noi Stock Exchange ended down 0.55 per cent at 108.79 points. The northern index rose 0.73 per cent to end at 109.39 points on Wednesday. More than 99.7 million shares were traded on the two local exchanges, worth a total of VNĐ1.8 trillion (US $78 million). The blue chip VN30 Index lost 0.59 per cent to end the morning session at … [Read more...] about Falling world stocks hit VN shares

Real estate stocks might peak in the first half of 2019 or even earlier, in the last quarter of this year, experts have forecast. The recovery of the property market helped boost real estate stocks during the past five years. According to financial services company Stockplus’ Fiinpro Platform, real estate stocks posted better growth than the overall market. Statistics showed that real estate stocks increased by 143.3 per cent in the 2014-18 period while the VN-Index rose by 96.5 per cent. Earnings per share (EPS) of real estate stocks saw stable growth in the period, despite a mild decrease in 2015. It was forecast to grow by 21.9 per cent by the end of 2018 if shares of Vinhomes Joint Stock Company (VHM), a real estate developer of VinGroup, were excluded. VHM was traded on HCM City Stock Exchange on May 17 with a market capitalisation of nearly US$11 billion. Including VHM, the EPS of real estate stocks could jump by 72.3 per cent by the end of this year. According to real … [Read more...] about Real estate stocks might peak in first half of 2019

Local stocks advanced on Wednesday morning on the strength of large-cap companies. — Photo tinnhanhchungkhoan.vn Vietnamese shares rose on Wednesday morning, driven by blue chip stocks. The benchmark VN Index on the HCM Stock Exchange gained 0.75 per cent to close at 970.60 points. The southern market index was up 1.23 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange rose 0.82 per cent to end at 109.49 points. The northern market index advanced 0.86 per cent in the previous session. More than 121 million shares were traded on the two local exchanges, worth a total of VND2.48 trillion (US $110.2 million). Large-cap stocks performed well to drive the positive market trend. The blue chip VN30 Index gained 0.58 per cent to end the morning session at 944.82. Twenty-five of the 30 largest stocks by market capitalisation in the VN30 basket advanced. The gainers included Binh Minh Plastic JSC (BMP), food and beverage firm Masan (MSN), steel producer Hoa Sen (HSG) and … [Read more...] about Blue chips lift markets up

Truong Thanh Furniture Corporation will seek shareholders’ approval for a merger with another company which work in the same area in an effort to restructure the loss-making business. The merger, if approved, will be made through a share swap. The company plans to issue 100 million shares worth VND1 trillion (US$43 million) in exchange for the target company’s shares. The swap ratio will be determined on the basis of a comparison of prices of Truong Thanh Furniture and the target company. The target company’s identity has yet to be disclosed. The merger will be carried out in 90 days after getting approval of the State Securities Commission. Truong Thanh Furniture’s charter capital will increase to nearly VND3.15 trillion from current VND2.15 after the merger. Earlier in its annual shareholders’ meeting in April, vice president of the company Mai Huu Tin said the company wanted to acquire a company working in the same sector and having enough capacity … [Read more...] about Truong Thanh Furniture wants $43m merger