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
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US stocks close higher after Europe rally
US stocks followed European counterparts higher Tuesday buoyed by encouraging economic news from Germany and China, and a strong reading from a New York regional economic activity indicator. After jumping more than one per cent in early trade, the Dow Jones Industrial Average pulled back to finish the session up 60.01 points (0.48 per cent) at 12,482.07. The broad-based S&P 500 gained 4.58 points (0.36 per cent) to 1,293.67, while the tech-rich Nasdaq Composite added 17.41 (0.64 per cent) to 2,728.08. "US stocks kicked off an historically lackluster holiday week on the right foot today, thanks to encouraging economic data from around the globe," said Andrea Kramer at Schaeffer's Investment Research. US markets were closed Monday for the Martin Luther King Day holiday. Official Chinese data showed the world's second-largest economy grew 8.9 per cent in the fourth quarter, slowing from the prior quarter but by less than analysts expected. Investors appeared to shrug off … [Read more...] about US stocks close higher after Europe rally
Stocks edge up, liquidity rises
Vietnamese stock market today rallied for the 1st session time this week with VN-Index and HNX-Index regained 2.72 points and 0.15 point to 412.1 points and 67.87 points respectively. The total trading volumes on Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) today reached about 46.55 million shares with trading value worth about VND784.1 billion, up 0.5 percent in volume and 25.9 percent in value against the previous trading session. On HoSE, total trading volume reached about 25.28 million shares worth about VND566.38 billion, up 12.9 percent in volume and 47.1 percent in value against the previous trading session. The southern bourse’s benchmark index today dropped below its 410-point threshold after 3 straight rallying sessions. In the group of largest capitalization shares, BVH reached the ceiling price and VIC gained 1.6 percent. Other key stocks, such as KBC, ITC, ITA, HPG, FPT and DPM saw their values increase increased between VND100 and VND800 … [Read more...] about Stocks edge up, liquidity rises
Stocks regain, liquidity surges
Vietnamese stock market today rallied for the 1st session time this week with VN-Index and HNX-Index regaining 7.3 points and 1.33 points to 411.03 points and 69.05 points respectively. For illustration purpose only The total trading volumes on Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) today reached about 72.6 million shares with trading value worth about VND907.3 billion, up 93.1 percent in volume but up 49.7 percent in value against the previous trading session. On HoSE, total trading volume reached about 32.6 million shares worth about VND547.6 billion, up 75.3 percent in volume and 32.4 percent in value against the previous trading session. The southern bourse’s benchmark index today kept the upward trend from the start to the end of the trading session. Many key stocks, such as FPT, VNM, CTG, MSN, BVH, VIC, KDC, KBC, ITC, and ITA, gained points. Among them, CTG, MSN and ITA hit the ceiling prices, attracting foreign investors … [Read more...] about Stocks regain, liquidity surges
Stocks down, liquidity regains
Vietnamese stock market today slipped into the red for the 1st time this week with VN-Index and HNX-Index losing 3.6 points and 0.73 point to 410.84 points and 68.46 points respectively. The total trading volumes on Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) today reached about 52.1 million shares with trading value worth about VND694 billion, up 13.3 percent in volume and 18.5 percent in value against the previous trading session. On HoSE, total trading volume reached about 26.2 million shares worth about VND442.5 billion, up 20.2 percent in volume and 34.4 percent in value against the previous trading session. Almost key stocks, such as SSI, HPG, CTG, EIB, STB, ITA, ITC, and VCB, lost points by 1-4 percent. Among them, EIB led the market in terms of trading volume of over 1.4 million units at the price VND14,800 per share, which is close to its floor price. IJC today also reached trading volume of over one million units at the floor … [Read more...] about Stocks down, liquidity regains