Vietnamplus

Financial stocks’ strong recovery lifted both local exchanges on December 14, but the market’s short-term prospects remained gloomy following the outflow of money.

Vietnamese shares plunged on December 11 as investors turned cautious before exchange-traded funds (ETFs) started restructuring their portfolios.

Shares are forecast to slow down this week in the face of rising profit-taking pressure after a long rally, net selling by foreign investors and uncertainty before the portfolio restructuring period of exchange-traded funds (ETFs).

Shares bounced back slightly on December 8 on the HCM Stock Exchange but slipped on the Hanoi bourse, affected by the somber result of the State Capital Investment Corporation’s (SCIC) divestment from Vinaconex.

The benchmark VN-Index declined for a second day on December 6, dropping 0.59 percent to close trade at 947.64 points.

Shares suffered strong correction on December 5 on the two stock exchanges after a three-week rally came under heavy profit-taking pressure.

Shares started the new trading week on a positive note with the benchmark VN-Index rising 1.01 percent to close December 4 at 970.02 points.

Shares fell slightly on the HCM Stock Exchange as large-cap stocks were hit by profit-taking after the index touched a fresh 10-year high of 960 points.

Shares of the Saigon Beer, Alcohol and Beverage Corporation (Sabeco) - Vietnam’s biggest brewer - will be offered at an initial price of 320,000 VND (14 USD) each on December 18.

Vietnam’s benchmark VN-Index extended its rally on November 29 for the eighth consecutive session as investor confidence was lifted by expectations of the Government selling its stakes in listed companies.

Vietnam’s stock market has something to cheer about, as the VN-Index was named among the top three fastest growing markets in the world.

Shares extended gains on both local markets on November 27 as investments continued to pour into large-cap stocks despite warnings of a short-term correction from analysts and brokerage firms.

Shares concluded a winning week on the HCM Stock Exchange with the benchmark VN-Index adding 0.2 percent to close at 935.57 points on November 24.

Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.

The benchmark VN-Index hit an almost decade-high on November 22 after large cash flows poured into blue-chip stocks on investor optimism over a sustainable uptrend.

Shares shook sharply on November 21’s afternoon trade under increased profit-taking activity but still closed higher thanks to solid investor confidence in the market outlook.

Shares fell on the HCM Stock Exchange after rallying for 10 days to its 10-year high as the market was hit by strong investor selling.

Shares soared on both local markets on November 16 with the VN Index hitting a fresh 10-year high as investor confidence improved, pouring strong investment into all sectors and stocks.

Vietnamese shares remained positive on both local exchanges on November 14 as banking-financial stocks performed well on strong foreign purchases.

Shares advanced further on both local exchanges on November 13 as investors eagerly anticipated some companies’ sale of more shares to reduce the State’s capital holdings, and by the impacts of the APEC event last week.