The domestic stock market experienced positive developments in the first half of this year (Source: VNA) Hanoi (VNA) – The domestic stockmarket experienced positive developments in the first half of this year, withgrowth seen in both the VN-Index and HNX-Index.
The benchmark VN-Index rose 16.8 percent, from664.87 points on January 3, to close at 776.47 points on June 30, a nine-yearhigh. Meanwhile, the HNX-Index posted a higher growth rate of 23.7 percent,from 80.1 points to 99.1 points.
The highest growth was seen in the groups ofstock companies, 47.1 percent; pharmaceutical firms, 38.8 percent; banks, 29.8percent, and real estate developers, 20.8 percent, respectively.
Among brokerage firms, the biggest gainerswere Saigon-Hanoi (SHS), 204 percent; HCM City Securities (HCM), 57.6 percent;and VNDirect Direct (VNA), 62.4 percent.
Trading liquidity recorded in the twomarkets between January-June averaged 4 trillion VND (175.9 million USD) ineach session compared with 3 trillion VND (131.9 million USD) in 2016.
Foreign investors were also busy during theperiod, with net buy value of more than 9 trillion VND (395.9 million USD), a 16-year high, as against foreign net sale valueof nearly 7 trillion VND (307.9 million USD) in 2016.
Foreign investments focused on construction,consumer goods and materials, with favourite shares being PLX, ROS, HPG, NVLand VNM.
Notably, foreign investors made net buying for25 consecutive weeks.
Ngo The Hien, deputy head of market analysisat Sai Gon-Hanoi Securities Company (SHS), said the results are attributable tothe Government’s efforts to improve the investment and business environment,macro-economic stability and good credit growth.
Economists said that macro-economicstability, curbed inflation, stable interest and forex rates, improved investmentand business climate and positive signs in export and foreign investment wouldspur the market in the remaining of the year.
The State Bank of Vietnam recently shaved0.25 percentage points off the annual refinancing interest rate. The ceiling annualshort-term interest rate for loans in Vietnam dong in some sectors has alsobeen cut by 0.5 percentage points.
On June 7, the National Assembly adopted aresolution on bad debt settlement, facilitating the process in commercial banksas well as handling bad debts in real estate.
According to Ha Quang Tuyen, head of theNational Account Department under the General Statistics Office, more than61,000 enterprises registered to establish in the first half of this year withtotal capital of 596 trillion VND (26.2 billion USD), up 12.4 percent in thenumber of enterprises and 39.4 percent in capital compared with the same periodlast year.
This is a huge resource spurring nationalgrowth, he said, noting that the growth target of 6.7 percent set for 2017 canbe reached with due efforts. -VNA
The benchmark VN-Index rose 16.8 percent, from664.87 points on January 3, to close at 776.47 points on June 30, a nine-yearhigh. Meanwhile, the HNX-Index posted a higher growth rate of 23.7 percent,from 80.1 points to 99.1 points.
The highest growth was seen in the groups ofstock companies, 47.1 percent; pharmaceutical firms, 38.8 percent; banks, 29.8percent, and real estate developers, 20.8 percent, respectively.
Among brokerage firms, the biggest gainerswere Saigon-Hanoi (SHS), 204 percent; HCM City Securities (HCM), 57.6 percent;and VNDirect Direct (VNA), 62.4 percent.
Trading liquidity recorded in the twomarkets between January-June averaged 4 trillion VND (175.9 million USD) ineach session compared with 3 trillion VND (131.9 million USD) in 2016.
Foreign investors were also busy during theperiod, with net buy value of more than 9 trillion VND (395.9 million USD), a 16-year high, as against foreign net sale valueof nearly 7 trillion VND (307.9 million USD) in 2016.
Foreign investments focused on construction,consumer goods and materials, with favourite shares being PLX, ROS, HPG, NVLand VNM.
Notably, foreign investors made net buying for25 consecutive weeks.
Ngo The Hien, deputy head of market analysisat Sai Gon-Hanoi Securities Company (SHS), said the results are attributable tothe Government’s efforts to improve the investment and business environment,macro-economic stability and good credit growth.
Economists said that macro-economicstability, curbed inflation, stable interest and forex rates, improved investmentand business climate and positive signs in export and foreign investment wouldspur the market in the remaining of the year.
The State Bank of Vietnam recently shaved0.25 percentage points off the annual refinancing interest rate. The ceiling annualshort-term interest rate for loans in Vietnam dong in some sectors has alsobeen cut by 0.5 percentage points.
On June 7, the National Assembly adopted aresolution on bad debt settlement, facilitating the process in commercial banksas well as handling bad debts in real estate.
According to Ha Quang Tuyen, head of theNational Account Department under the General Statistics Office, more than61,000 enterprises registered to establish in the first half of this year withtotal capital of 596 trillion VND (26.2 billion USD), up 12.4 percent in thenumber of enterprises and 39.4 percent in capital compared with the same periodlast year.
This is a huge resource spurring nationalgrowth, he said, noting that the growth target of 6.7 percent set for 2017 canbe reached with due efforts. -VNA
VNA
