Markets

An apartment complex developed by Phat Dat Real Estate Development JSC (HoSE: PDR) in HCM City. — Photo phatdat.com.vn Phat Dat Real Estate Development JSC (HoSE: PDR) wants to buy back half of its bonds issued in April. The company plans to buy VND100 billion (US$4.3 million) worth of its bonds, issued on April 8, 2019, to raise VND200 billion for the company. The deal is expected to occur on October 8, 2019. At the issuance date, the bond notes were non-convertible, guaranteed with the firm’s 19 million shares and would mature in one year on April 8, 2020. The bonds per-annum yield rate was 14.45 per cent, the highest corporate bond rate on the market so far this year. The buyback is a part of the agreement with bondholders. On the last day of the sixth month from the issuance date, the company is able to buy back half of the bonds at par value. The remainders will mature on the maturity date. In August, Phat Dat raised VND70 billion from issuing bond notes that were … [Read more...] about Realty firm buys back half of its April bond notes

A BIDV office. The bank was among large-cap stocks that declined on Thursday morning. — Photo bidv.com.vn Viet Nam’s benchmark VN-Index fell on Thursday morning, dragged down by food and beverage and agriculture sectors following the US central bank Fed’s meeting. The VN-Index on the Ho Chi Minh Stock Exchange dropped 0.33 per cent to end the morning session at 991.84 points. The VN-Index lost 0.16 per cent on Wednesday. More than 84.8 million shares were traded on the southern bourse, worth VND1.66 trillion (US$71.6 million). Large-cap and mid-cap stocks in the food and beverage and agriculture sectors pulled the market down. The large-cap VN30-Index and mid-cap VNMID-Index fell 0.25 per cent and 0.17 per cent, respectively. The biggest losers in the two industries were dairy firm Vinamilk (VNM), consumer business Masan (MSN) and brewer Sabeco (SAB), which were down between 0.7 per cent and 0.8 per cent. Other large-caps also declined such as Vinhomes (VHM), the … [Read more...] about VN stocks lose ground following Fed move

A TNG garment and textile factory in Thai Nguyen Province. The company has earned VND3.16 trillion worth of revenue in the first eight months. — Photo baothainguyen.org.vn TNG Trading and Investment JSC (HNX: TNG) has announced its revenue in August rose 20 per cent yearly to VND553 billion (US$23.8 million). In August, net profit was VND30 billion. After eight months, the firm’s revenue and net profit were up 34 per cent each year on year to VND3.16 trillion and VND157 billion. In 2019, the company has operated one new factory and another is expected to start running in the fourth quarter of the year. With the two new factories, TNG will have the biggest cotton production in the north. As of August 14, total garment and textile contracts signed were worth VND4.7 trillion, up 13 per cent from this year’s target and 30 per cent higher than last year’s. After eight months, TNG has fulfilled 76 per cent of both revenue and profit plans targeted for 2019. The … [Read more...] about Garment firm reports growth in August revenue

A view of Noi Bai International Airport. The airport operator ACV shares gained 1.6 per cent on Monday. — Photo theleader.vn Vietnamese shares were little changed on Wednesday, just like global financial markets, with the US central bank Federal Reserve’s meeting in the spotlight. The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched down 0.16 per cent to close at 995.15 points. The VN-Index retreated from the previous four-day increase of total 2.83 per cent. The market trading condition was negative with 159 decliners outnumbering 149 gainers while 59 stocks were flat. More than 191 million shares were traded on the southern bourse, worth VND4.62 trillion (US$198.87 million). Sub-indices on the southern bourse indicated the market sentiment was not too good. The large-cap VN30-Index gained only 0.12 per cent while the mid-cap VNMID-Index and small-cap VNSML-Index were down 0.06 per cent and 0.17 per cent, respectively. Modest changes of local indices were … [Read more...] about VN stocks slide with concerns over Fed meeting

Share prices displayed on a cellphone. Vietnamese shares were slightly changed on Wednesday morning as profit-taking pressure hit banking, energy and tech stocks. — Photo tinnhanhchungkhoan.vn Vietnamese shares closed Wednesday morning on a negative note, dragged down by technology, banking and energy sectors. The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched down 0.10 per cent to end at 995.74 points. The VN-Index had gained total 2.83 per cent in the previous four days. More than 102.5 million shares were traded on the southern bourse, worth VND2.14 trillion (US$92 million). Technology, energy and banking businesses pulled the stock market down as investors tried to earn profits from those stocks’ rallies. The three sector indices were down between 0.3 per cent and 1.1 per cent, data on vietstock.vn showed. The market trading condition was also negative as declining stocks outnumbered gainers by 152 to 132. The three large-cap, mid-cap and small-cap indices … [Read more...] about VN stocks change little with increased selling