Vietnamese shares mixed despite upswing
Shares rose for the third session in a row in Hanoi on November 27 but
faltered in Ho Chi Minh City as blue chips sold heavily towards the end
of the session.
Shares rose for the third session in a row in Hanoi on November 27 but
faltered in Ho Chi Minh City as blue chips sold heavily towards the end
of the session.
On the Ho Chi Minh City Stock Exchange, the VN-Index lost 0.14 percent to 508.43 points. The VN30, tracking the city's largest shares in terms of capitalisation and liquidity, touched 568.33 points – decreasing 0.09 percent.
Among the 30 blue chip companies, 13 codes posted gains while nine others tumbled. Property giant Vingroup (VIC) was the biggest loser, down 2.2 percent, followed by PetroVietnam Drilling Services (PVD), Da Nang Rubber (DRC) and Vietcombank (VCB).
The value of transactions on the bourse hit 1.29 trillion VND (60.8 million USD) on a volume of over 102.7 million shares. Meanwhile, on the Hanoi Stock Exchange, the HNX-Index closed at 65.19 points, rallying 0.44 percent.
As nearly 45.4 million shares changed hands, trading value totalled around 350 billion VND (16.5 million USD).
The HNX30, representing the performance of Hanoi's 30 leading shares, increased 0.22 percent to 123.19 points.
Comments on the Vietnamese economy which appeared on November 27 were positive. In an Ernst & Young report on rapid-growth markets, Vietnam's GDP will grow 5.2 percent in 2014 then reach 7 percent in 2016.
The auditing firm said by balancing current account and growing foreign direct investment (FDI), the Vietnamese dong would decline in proportion to inflation, thereby allowing the Government to loosen monetary policy and expand credit growth.
Meanwhile, a recent ANZ economic update shows that "an upswing in Vietnam is now in play", led by very strong FDI.
"We retain our expectations for the State Bank of Vietnam to remain on hold till at least the first half of next year," the foreign bank's analysts said.
During the first 11 months of this year, the real estate sector ranked third in attracting FDI, according to the Ministry of Industry and Trade's foreign investment division.
There were 20 new foreign projects in the sector, doubling the same period last year's figure, with a total capital of 884 million USD.
VietCapital Securities Co analysts stated some real estate firms might generate profits for investors, such as Binh Chanh (BCI) and Dat Xanh (DXG).-VNA
On the Ho Chi Minh City Stock Exchange, the VN-Index lost 0.14 percent to 508.43 points. The VN30, tracking the city's largest shares in terms of capitalisation and liquidity, touched 568.33 points – decreasing 0.09 percent.
Among the 30 blue chip companies, 13 codes posted gains while nine others tumbled. Property giant Vingroup (VIC) was the biggest loser, down 2.2 percent, followed by PetroVietnam Drilling Services (PVD), Da Nang Rubber (DRC) and Vietcombank (VCB).
The value of transactions on the bourse hit 1.29 trillion VND (60.8 million USD) on a volume of over 102.7 million shares. Meanwhile, on the Hanoi Stock Exchange, the HNX-Index closed at 65.19 points, rallying 0.44 percent.
As nearly 45.4 million shares changed hands, trading value totalled around 350 billion VND (16.5 million USD).
The HNX30, representing the performance of Hanoi's 30 leading shares, increased 0.22 percent to 123.19 points.
Comments on the Vietnamese economy which appeared on November 27 were positive. In an Ernst & Young report on rapid-growth markets, Vietnam's GDP will grow 5.2 percent in 2014 then reach 7 percent in 2016.
The auditing firm said by balancing current account and growing foreign direct investment (FDI), the Vietnamese dong would decline in proportion to inflation, thereby allowing the Government to loosen monetary policy and expand credit growth.
Meanwhile, a recent ANZ economic update shows that "an upswing in Vietnam is now in play", led by very strong FDI.
"We retain our expectations for the State Bank of Vietnam to remain on hold till at least the first half of next year," the foreign bank's analysts said.
During the first 11 months of this year, the real estate sector ranked third in attracting FDI, according to the Ministry of Industry and Trade's foreign investment division.
There were 20 new foreign projects in the sector, doubling the same period last year's figure, with a total capital of 884 million USD.
VietCapital Securities Co analysts stated some real estate firms might generate profits for investors, such as Binh Chanh (BCI) and Dat Xanh (DXG).-VNA
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