Bottom feeders lift the market

Shares rose on Nov. 16 on both stock exchanges as investors hunted for bargain shares after a prolonged downturn.
Shares rose on Nov. 16 on both stock exchanges as investors hunted for bargain shares after a prolonged downturn.

With investors betting that share prices had reached rock bottom andwere poised to turn around, an analyst on the website of the FPTSecurities Company cautioned, "This belief needs to be tested in thecoming days as the cash flow seems quite weak."

Sharesoften climbed towards the end of each quarter as institutional investorsrestructured portfolios and attempted to drive up shares and make theirfinancial reports more impressive to their investors, the analyst said.

The HCM Stock Exchange on Nov. 16 snapped a string ofseven consecutive losing sessions, as the VN-Index closed at 390.89points, an increase of 0.78 percent over Nov. 15's level.

The value of trades decreased by 19 percent, however, totalling just 711billion VND (33.9 million USD) on a volume of about 33 million shares.

Advancers outnumbered decliners by about two-to-one, with eight of the10 leading shares by capitalisation posting gains. Real estate developerHoang Anh Gia Lai Co (HAG) shot up to its ceiling price of 23,100 VNDper share after 12 successive sessions of declines.

Sacombank (STB) was the most-active share, with 1.63 million traded, before closing up 2.9 percent to 14,300 VND per share.

On the Hanoi Stock Exchange, the HNX-Index rose for a second day,gaining over 1.7 percent to close at 64.14 points. Market value rose 16percent to 323.6 billion VND (15.4 million USD) as nearly 33.2 millionshares changed hands.

Gainers outnumbered losers by179-66, with major stocks increasing. VNDirect Securities (VND), themost-active code nationwide on Nov. 16 with a volume of nearly 4.4million shares, soared 4.2 percent, while Kim Long Securities Co (KLS)was up 3.1 percent and construction giant Vinaconex (VCG) rose 1.9percent.

While foreign investors were net sellers ofnearly 66 billion VND (3.1 million USD) worth of shares on the HCM Citymarket on Nov. 16, they finished the day as net buyers of nearly 9.3billion VND (441,800 USD) worth of shares on the Hanoi market.

Despite on Nov. 16's gains, most analysts expressed caution about themarket's recovery prospects, suggesting that on Nov. 16 could represent atechinical correction after a long losing streak. Bottom-feedingcontinued to remain a higly risky investment strategy, they said./.

See more

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.

Rice is one of Vietnam's exports to Cuba. (Photo: VNA)

Vietnam-Cuba Business Forum held in Hanoi

Addressing the event, Cuban Ambassador Rogelio Polanco Fuentes affirmed that Cuba will always stand alongside the Vietnamese Government and business community in their efforts to achieve the challenging target socio-economic goals.

The private sector is expected to make breakthroughs for national development. (Photo: VNA)

Party official anticipates breakthroughs in private economic sector

With the Politburo set to issue a dedicated resolution on the private economic sector, there should be a reformed approach to action plans, according to Secretary of the Party Central Committee and head of Head of its Commission for Policies and Strategies Tran Luu Quang.

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Cuban commerce official optimistic about bright future of Vietnam-Cuba cooperative ties

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.