The capital gains tax, which took effect today, made investors less willing to return to the stock market after a New Year break, with the benchmark VN-Index remaining barely unchanged on the first trading day of the year. VN-Index, the gauge of 174 firms and closed-end funds, crept up 2.28 points, 0.72 percent, to close at 313.34. Today's trading was very quiet, with a mere 5.4 million shares exchanging hands. According to some HCMC-based brokerages, investors stood on the sidelines due to the introduction of new regulations on personal income and capital gains taxes coming into effect yesterday. The new law requires investors to pay either 0.1 percent of every sale or 20 percent on the year's net profit accumulated throughout the year. Foreign investors today bought more than one million shares worth VND37.3 billion ($2.2 million) while selling 429,040 shares worth VND10 billion ($588,000). Pha Lai Thermal Power, PetroVietnam Finance Joint Stock Co., seafood firm Nam Viet Corp., … [Read more...] about HCM City stocks closes slightly higher on quiet trading
Stock closed today
Vietnam market bullish over US stock rally
The Ho Chi Minh Stock Exchange closed higher on Monday as a sharp rally on the US's Wall Street put investors into buoyant mood. VN-Index, a measure of 175 companies on the Ho Chi Minh City Stock Exchange, rose 1.2 percent to close at 254.56. Among the members, 99 gained while 42 fell. Sentiment in Ho Chi Minh City was upbeat amid a hefty rebound of the US's stock market last Friday. The Dow Jones Industrial Average of 30 blue chips surged 9.0 percent on the week to end Friday at 7,223.98, roaring back from a 12-year low, according to AFP. The broad-market Standard & Poor's 500 bounced back from a nearly 13-year low, rallying 10.7 percent in the week to 756.55. The technology-heavy Nasdaq composite climbed 10.6 percent over the week to end at 1,431.50. Some market watchers say a positive outlook from the battered banking sector and tentative signs of stability in some economic reports suggest the worst may be over for the economy and the stock market. Doan Xa Port Joint-Stock … [Read more...] about Vietnam market bullish over US stock rally
Bulk bucks push stocks higher
Share prices on the Ho Chi Minh Stock Exchange continued to rise on Wednesday over large cash flows pouring into the market. The VN-Index of 177 listed firms and four closed-end funds closed at 410.38, staging a rise of 9.48, 2.36 percent. The index has regained 31 percent this year. Turnover rose to 57.5 million shares worth VND1.88 trillion ($105.6 million). Of VN-Index's members, 147 stocks advanced against a mere 16 which fell. Trading on the HCMC bourse was fairly quiet in the first trading session, with only around 2.3 million shares changing hands, as investors reacted cautiously to an overnight fall in the US's Wall Street. The Dow and S&P 500 slipped on Tuesday, as financial shares sank on disappointing housing data, according to Reuters. The Dow Jones industrial average fell 29.23 points, 0.34 percent, at 8,474.85. The Standard & Poor's 500 Index lost 1.58 points, 0.17 percent, at 908.13. The Nasdaq Composite Index added 2.18 points, 0.13 percent, at 1,734.54. … [Read more...] about Bulk bucks push stocks higher
Stock market makes correction after global falls
The Ho Chi Minh Stock Exchange retreated on Thursday as investors were jittery ahead of falls on Wall Street and Asia's markets. VN-Index, Vietnam's index of major stock, closed lower 7.33 points, 1.26 percent, at 574.78. Of its 176 members, 112 stocks dropped, 49 gained and 15 unchanged. Turnover remained high, with more than 72 million shares worth VND3.8 trillion being traded. Asian shares outside Japan fell on Thursday, mirroring investor caution in the U.S., according to Reuters. Japan's benchmark Nikkei index jumped 1.7 percent after a three-day holiday, but the rise reflected gains made in the rest of the region at the start of the week. A 0.8 percent slide on the Dow Jones on Wednesday, however, weighed on the rest of Asia's markets and the MSCI index of Asia Pacific stocks traded outside Japan was down 1.2 percent. Shares in South Korea fell more than one percent with some concern that a strengthening Korean won could hurt export competitiveness. In Hong Kong, the Hang Seng … [Read more...] about Stock market makes correction after global falls
Good news in stock market
Hanoi Times - A positive sign appeared in stock market today, in spite of the decline of VN-Index and HASTC-Index by the closing time. That is the ceiling reach of many securities codes which shows investors' willingness. There are 20 securities codes sought by investors,that is a positive sign which hasn't been seen over the past two months. Today, VN-Index continued to slip another 6.12 points (equivalent to 1.61%), to close at 373 points. Trading revenue was around 3.5 million shares with VND 196.5 billion. Of which the matched order trading revenue was 1.2 million shares, 32.43% increase compared to the previous trading session and the total value of trading matched order was VND 30.037 billion, 16.14% increase. 19 out of 22 gainer securities codes hit the ceiling. Of all stock traded, 15 codes remained unchanged and 122 lost values. SGH is the topped gainer with the increase of VND 1,500 and closed at VND 82,500 per share. In the contrary, IMP, DHG, VPL are 3 worst losers with … [Read more...] about Good news in stock market