Vietnam’s stocks, investor confidence rise
Vietnamese shares rose on both local markets on March 10. Financial firms, including banks, insurance companies and brokerage firms, made gains.
The benchmark VN Index rebounded 0.7 per cent to close at 575.91 points after declining by 0.8 per cent in the previous two trading sessions. (Photo: nld.com.vn)Hanoi (VNA) - Vietnamese shares rose on both local markets on March 10. Financial firms, including banks, insurance companies and brokerage firms, made gains.
The benchmark VN Index rebounded 0.7 percent to close at 575.91 points after declining by 0.8 percent in the previous two trading sessions.
The HNX Index on the Hanoi Stock Exchange also rose 0.7 percent to close at 79.89 points, extending a two-day gain of 1 percent.
Better investor confidence on March 10 bolstered the financial sector on expectations that the European Central Bank (ECB) may ease its financial policy and buy more securities from the market every month, Bao Viet Securities Corporation (BVSC) wrote in its daily report on March 10.
The financial sector was lifted by the Bank for Investment and Development of Vietnam (BID), Saigon-Hanoi Bank (SHB), Bao Minh Insurance Corporation (BMI) and BIDV Insurance Corporation (BIC), which rose 1.7 percent, 1.4 percent, 2.7 percent, and 2.4 percent, respectively.
Brokerage firms also increased, including Bao Viet Securities Corporation (BVS), HCM City Securities Corporation (HCM), Saigon-Hanoi Securities Corporation (SHS) and Saigon Securities Incorporation (SSI). These stocks added 1.5 percent, 4.4 percent, 2.7 percent and 1.7 percent, respectively.
Property stocks also helped boost the markets from gains on March 9. Among property companies, Hoang Anh Gia Lai JSC (HAG) jumped 4.9 percent, while Kinh Bac City Development Share Holding Corporation (KBC) and FLC Group (FLC) advanced 1.5 percent each.
Additionally, energy stocks extended gains on recent rallies in global oil prices. US benchmark West Texas Intermediate (WTI) on March 10 dropped 1 percent to trade at 37.90 USD a barrel, however WTI surged nearly 45 percent, a month from its twelve-year low.
Among local energy stocks, PetroVietnam Gas Corporation (GAS) gained 1.8 percent, while PetroVietnam Drilling and Well Service Corporation (PVD) and PetroVietnam Mud Drilling Corporation (PVC) jumped 3 percent and 3.4 percent each.
Other large-cap stocks also helped raise the markets, including software provider FPT Corporation (FPT), and steel makers Hoa Phat Group (HPG), Hoa Sen Group Corporation (HSG), and Phuoc Hoa Rubber JSC (PHR).
Both local markets traded nearly 198 shares worth 3 trillion VND (132 million USD), an increase of 18 percent from March 9's trading value.-VNA
You should also see
PM urges village elders, citizens to help preserve cultural heritage
Prime Minister Pham Minh Chinh has asked village elders and chiefs, skilled artisans and reputable citizens to make greater efforts to preserve and promote tangible and intangible cultural heritage, which is the quintessence and core value of the nation.
See more
Videos
Foreign investment driven towards new breakthrough phase
Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.
Business
Quang Ninh attracts additional 115 million USD from Japan investors
The Quang Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth 115 million USD in total at a conference held at Song Khoai Industrial Park (IP) on April 19.
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Business
Hanoi to host Vietnam Medipharm Expo 2024
The 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medipharm Expo 2024) is scheduled to take place in Hanoi from May 9 to 12, an official of the Ministry of Health (MoH) told a press conference on April 19.
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
