Stocks stuck in holding pattern
Analysts at a number of brokerages predict the Vietnamese stock market
will continue to tread water in the opening days of August, as
risk-averse investors continued to flee the market.
Analysts at a number of brokerages predict the Vietnamese stock market
will continue to tread water in the opening days of August, as
risk-averse investors continued to flee the market.
While the stock market needed to attract 30-40 trillion VND (1.6-2.1 billion USD) in new capital, several large investors were withdrawing investment.
The HCM City market alone has recently absorbed 1.3 billion new shares, while the exchange said it had approved requests by 16 companies to list a combined 496 million shares and was processing the listing documents of 11 more companies preparing to list a combined total of 813 million shares. Meanwhile, major institutional investors like Vinalines, Vinashin, and PetroVietnam unloaded shares last week.
Over the course of last week, weakened investor confidence caused shares to tumble on the HCM Stock Exchange, with the VN-Index losing a net of 1.28 percent from the previous week's close to end July 30's session at 493.91.
An average of 42 million shares changed hands per day, worth an average of 1.24 trillion VND (65.3 million USD) – a decrease of over 6 percent in both volume and value from the previous week.
Refrigeration & Electrical Engineering (REE) was the most active share on the southern bourse, with an average of 1.8 million traded per day. REE shares lost 5.1 percent of their value during the week, closing on July 30 at 18,600 VND (0.98 USD).
On the Hanoi Stock Exchange, the HNX-Index fell by an even more substantial 2.95 percent to end July 30's session at 153.33 points. The value of trades dropped by nearly 18 percent to a daily average of about 1 trillion VND (52.6 million USD), with volumes averaging 35.3 million shares per session.
Though PetroVietnam Construction (PVX) returned as the most heavily-traded share nationwide with an average of 3.7 million traded per day, it lost 3.18 percent during the week to close at 27,400 VND (1.44 USD).
Foreign investors concluded last week as net sellers on the HCM City market for a total value of over 46 billion VND (2.4 million USD). They continued as net buyers on the Ha Noi market, although only marginally, picking up a net of 5.5 billion VND (290,000 USD) worth of shares./.
While the stock market needed to attract 30-40 trillion VND (1.6-2.1 billion USD) in new capital, several large investors were withdrawing investment.
The HCM City market alone has recently absorbed 1.3 billion new shares, while the exchange said it had approved requests by 16 companies to list a combined 496 million shares and was processing the listing documents of 11 more companies preparing to list a combined total of 813 million shares. Meanwhile, major institutional investors like Vinalines, Vinashin, and PetroVietnam unloaded shares last week.
Over the course of last week, weakened investor confidence caused shares to tumble on the HCM Stock Exchange, with the VN-Index losing a net of 1.28 percent from the previous week's close to end July 30's session at 493.91.
An average of 42 million shares changed hands per day, worth an average of 1.24 trillion VND (65.3 million USD) – a decrease of over 6 percent in both volume and value from the previous week.
Refrigeration & Electrical Engineering (REE) was the most active share on the southern bourse, with an average of 1.8 million traded per day. REE shares lost 5.1 percent of their value during the week, closing on July 30 at 18,600 VND (0.98 USD).
On the Hanoi Stock Exchange, the HNX-Index fell by an even more substantial 2.95 percent to end July 30's session at 153.33 points. The value of trades dropped by nearly 18 percent to a daily average of about 1 trillion VND (52.6 million USD), with volumes averaging 35.3 million shares per session.
Though PetroVietnam Construction (PVX) returned as the most heavily-traded share nationwide with an average of 3.7 million traded per day, it lost 3.18 percent during the week to close at 27,400 VND (1.44 USD).
Foreign investors concluded last week as net sellers on the HCM City market for a total value of over 46 billion VND (2.4 million USD). They continued as net buyers on the Ha Noi market, although only marginally, picking up a net of 5.5 billion VND (290,000 USD) worth of shares./.
You should also see
Dien Bien Phu Victory echoes, 70 years on
Seventy years ago, Vietnam won the Dien Bien Phu battle, forcing the French government to sign the Geneva Agreement in July 1954 and marking the end of the French military presence in the whole Indochina.
See more
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Business
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
