Bullish market pushes Index below 590 Business

Bullish market pushes Index below 590

Profit-taking made a comeback on Oct. 13 on the HCM Stock Exchange after the VN-Index has passed the psychological barrier of 590 on Oct. 12, pressing the Index on Oct. 13 back down to 589.89.

Ballots available for City poll

Foreign tourists and expatriates in the city can participate in a poll of the 100 most existing sites or activities in HCM City from now until the middle of next months.

VIB meets yearly targets ahead of schedule

The Vietnam International Commercial Joint Stock Bank (VIB) racked up a nine-month, pre-tax profit of 124 percent of its yearly plan and double last year’s figure, fulfilling yearly targets three months before schedule.

Malaysian bank opens office

Hong Leong Bank opened its head office in Vietnam an its first branch in HCM City on Oct. 8, with an initial capital of 1 trillion VND (55 million USD).

Finance stocks prop up indices

The VN-Index remained largely unchanged on Sept. 16, closing up just 0.38 points to 556.98, as a strong performance by financial shares helped counteract an ongoing wave of profit-taking.

Rallying markets hit profit-taking wall

Profit-taking put the brakes on the advance of the shares on the HCM Stock Exchange yesterday, with the VN-Index gaining a negligible 0.03 percent to end the day at 556.75.

Trading was heavy, however, with the value of the day’s transactions climbing to 3.6 trillion VND (202.24 million USD), on a volume of 69.7 million shares. Foreign investors contributed 8 percent to the total market volume, accounting for 5.6 million transactions.

Seafood processors keen to export to Russia

Many Vietnamese seafood processors are proposing that the Russian Federal Service for Veterinary and Physio-Sanitary Surveillance (VPSS) increases the number of Vietnamese businesses permitted to export their products to the country.

Banks show positive results for the year

Banks continuously reported positive business performance in August after good results in the first seven months of the year.

Techcombank general director Nguyen Duc Vinh said his bank’s pre-tax profit in August was about 200 billion VND (11.2 million USD), lifting the bank’s pre-tax profit in the first eight months to nearly 1.43 trillion VND (79.9 million USD).

Cashew exports rise in volume, fall in value

Cashew exports in the first eight months of this year increased 6 percent in volume but dropped 13.5 percent in value over the same period last year, according to the Vietnam Cashew Association.

Profit-taking halts market advances

Heavy profit-taking brought the Ho Chi Minh Stock Exchange’s week-long rally to a halt on September 3, and the VN-index ended the day off slightly at 540.81 points despite a healthy number of gainers and active trading.