Before the trading session, investors received positive information from the global stock market, especially the US stock market. The stock market of the world-leading economy rallied in the first trading session of a new week after dropping at the end of last week in the context that investors' concerns about the Fed's decision to raise interest rates were higher than the forecast and risks of economic depression. Specifically, the Dow Jones Industrial Average jumped 641.47 points, or 2.15 percent, to 30,530.25 points. The S&P 500 also rose by 2.45 percent to 3,764.79 points. Both indexes recorded the strongest increase in June. The Nasdaq Composite alone surged 2.51 percent to 11,069.30 points. The prosperity of the US stock market is the motivation for investors to jump in and catch the bottom right from the first minutes of the morning trading session. Although the VN-Index suffered the selling pressure from large-cap stocks and sometimes retreated sharply to 1,160 points, … [Read more...] about VN-Index declines for five straight days despite support from banking stocks
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Blue chip stocks hit weekly high
The index closed 17.34 points higher after losing 3.4 points Friday. Trading on the Ho Chi Minh Stock Exchange increased by nearly 21 percent to VND12.32 trillion ($529.7 million). The VN-30 basket, comprising the 30 largest capped stocks, surged to the highest in a week with 26 tickers gaining. SSI of leading brokerage SSI Securities rose 6.7 percent, extending its gaining streak to the fourth session in a row. NVL of real estate developer Novaland closed 6.5 percent higher, with trading value highest since last December. Other winners included PNJ of Phu Nhuan Jewelry, up 6.1 percent, and HPG of steelmaker Hoa Phat, up 5 percent. Four bucked the trend, led by VIC of Vietnam's biggest conglomerate Vingroup JSC with a 1.1 percent drop. The ticker is now at a 27-month low, having fallen 42 percent from its peak last April. VNM of dairy giant Vinamilk, and MWG of electronics retailer Mobile World both lost 0.6 percent. VCB of the largest state-owned lender Vietcombank … [Read more...] about Blue chip stocks hit weekly high
Market surpasses 1,200-point mark thanks to steel, banking stocks
Inside a factory of Hoa Phat Group (HPG). HPG increased 5 per cent on Monday. — VNA/VNS Photo Vietnamese shares on Monday surpassed the 1,200-point mark, underpinned by steel and banking stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.46 per cent, to 1,202.82 points. The benchmark last week registered a weekly decrease of 2.6 per cent. Nearly 527 million shares were traded on the southern bourse, equivalent to VND12.3 trillion (US$529 million). Market breadth was positive with 116 losers and 340 gainers. In the banking group, most of the stocks gained ground including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB). Vietcombank (VCB) was the only decliner in the group. Steel stocks also attracted cash flow with gainers including Hoa Sen Group (HSG) rising 5.3 per … [Read more...] about Market surpasses 1,200-point mark thanks to steel, banking stocks
Stock market faces bumpy ride in second half of 2022
The Ministry of Finance is working on amending and supplementing Decree No. 153/2020/ND-CP on private offering and trading of corporate bonds in the domestic and international markets. — Photo baogiaothong.vn The Vietnamese stock market has gone through nearly half of 2022 with turbulence and remarkable events, especially the Government's crackdown on illegal activities manipulating the market. At the moment, the market is struggling as both liquidity and the benchmark index fall sharply. Experts said that monetary policy tightening from the US Federal Reserve (Fed), prolonged Russia-Ukraine conflict and China's zero COVID policy will indirectly affect the country's stock market. Stock market crackdown In the first half of 2022, many big business owners such as Do Thanh Nhan, Chairman of the Board of Louis Holdings Group and Le Anh Dung, President of Tan Hoang Minh Group, were arrested for illegal activities in the stock and corporate bond market. These cases showed the … [Read more...] about Stock market faces bumpy ride in second half of 2022
VN-Index strengthens by more than 15 points, backed by banking stocks
The benchmark started the morning trading session not so smoothly when the demand still hesitated, while the holders were ready to push sell orders when they saw that stocks reached their expected price levels. The cautiousness of both sides made the VN-Index go down slightly in the ATO session. The market continuously shook in the morning trading session when both the buyers and sellers failed to show their superior on the electric board. The market only improved in the afternoon trading session when buy orders above the reference price unexpectedly poured into the group of banking stocks. The green color from the most important stock group in the market was the driving force, helping change the color of the remaining large-cap stocks in the VN30 basket. At the end of the trading session, the VN-Index gained by 15.28 points, or 1.27 percent, to 1,218.1 points. Of the index, 326 stocks emerged, 53 remained unchanged, and 136 sank. Notably, the list of stocks that climbed today … [Read more...] about VN-Index strengthens by more than 15 points, backed by banking stocks
Securities stocks strengthen after draft on T+2 settlement cycle
Before today's trading session, investors received the news that the Vietnam Securities Depository (VSD) had recently consulted on a draft regulation on clearing and payment of securities transactions under the direction of adjusting the payment time for completing the T+2 settlement cycle of the State Securities Commission of Vietnam. One of the essential contents of this draft is the adjustment of the time for securities settlement and clearing banks to complete payment from 3.30 p.m. to 4 p.m. to from 11.30 a.m. to 12.30 p.m. on the trade date plus two days (T+2). With this new regulation, investors can trade right in the afternoon trading session of T+2. According to the draft, the money for securities transactions will be transferred to investors' accounts one day earlier than the old regulations. Therefore, investors can use the money to buy securities right in the afternoon trading session of T+2 instead of having to advance money as before. The new regulation on clearing … [Read more...] about Securities stocks strengthen after draft on T+2 settlement cycle