VN-Index approaches 640 benchmark
The VN-Index is nearing the 640-point benchmark, as it added another 5
points or 0.73 percent on July 15 to close the session at 638.69
points.
The VN-Index is nearing the 640-point benchmark, as it added another 5
points or 0.73 percent on July 15 to close the session at 638.69
points.
Profit-taking did not negatively impact on the market. The buying power remained strong among both domestic and foreign investors.
Both market volume and liquidity increased 10 percent over the previous day, totalling more than 155 million shares worth 2.86 trillion VND (131.2 million USD).
The foreign sectors continued to pick up another net buy of 69.2 billion VND (3.2 million USD) in shares on the HCM Stock Exchange.
"If foreign investors keep buying in while the domestic sector maintains current demand, we believe the growing momentum will continue," analysts at KIS Vietnam Securities Co. wrote.
However, they said many large-cap stocks surged into the overbought territory and were exposed to risks of correction.
Blue chips were again the driving force on the market yesterday, as shown in high growth of 0.92 percent on the VN30, which tracks the top 30 shares by market value and liquidity, compared with a 0.73 percent rise of the VN-Index.
Insurers continued their impressive performance with Bao Viet Holdings (BVH), BIDV Insurance (BIC) and Bao Minh Insurance (BMI) being traded at or around the ceiling price.
Meanwhile, bank stocks slowed down. Only Eximbank (EIB), BIDV (BID) and Sacombank (STB) sustained growth of 2 to 4 percent each. Military Bank (MBB) and Vietcombank (VCB) closed flat while Vietinbank (CTG) tumbled.
According to analysts at BIDV Securities Co., the market will not surge as strongly as in the previous period. Leading stocks such as banks, securities, and insurers have climbed significantly while foreign net buying shows signs of weakening in the next sessions.
"Correction may come in the next few sessions," the analysts wrote.
On the Hanoi Stock Exchange, the HNX-Index also inched up 0.18 percent to end at 88.74 points as the advancers more than doubled the decliners.
Liquidity also improved here with 73 million shares worth nearly 895 billion VND (41.1 million USD) traded by the end of the session, up more than 40 percent in both volume and value over the previous session's levels.
Foreigners also bought a net value of nearly 25 billion VND (1.2 million USD) worth of shares.
South Books and Education Equipment (SMN) debuted 4.4 million shares, equivalent to a charter capital of 44 billion VND (2 million USD) in the Hanoi market. SMN closed the first trading day at 12,000 VND each with 1,500 shares traded. This is the ninth new listing share this year and 359th stock here.-VNA
Profit-taking did not negatively impact on the market. The buying power remained strong among both domestic and foreign investors.
Both market volume and liquidity increased 10 percent over the previous day, totalling more than 155 million shares worth 2.86 trillion VND (131.2 million USD).
The foreign sectors continued to pick up another net buy of 69.2 billion VND (3.2 million USD) in shares on the HCM Stock Exchange.
"If foreign investors keep buying in while the domestic sector maintains current demand, we believe the growing momentum will continue," analysts at KIS Vietnam Securities Co. wrote.
However, they said many large-cap stocks surged into the overbought territory and were exposed to risks of correction.
Blue chips were again the driving force on the market yesterday, as shown in high growth of 0.92 percent on the VN30, which tracks the top 30 shares by market value and liquidity, compared with a 0.73 percent rise of the VN-Index.
Insurers continued their impressive performance with Bao Viet Holdings (BVH), BIDV Insurance (BIC) and Bao Minh Insurance (BMI) being traded at or around the ceiling price.
Meanwhile, bank stocks slowed down. Only Eximbank (EIB), BIDV (BID) and Sacombank (STB) sustained growth of 2 to 4 percent each. Military Bank (MBB) and Vietcombank (VCB) closed flat while Vietinbank (CTG) tumbled.
According to analysts at BIDV Securities Co., the market will not surge as strongly as in the previous period. Leading stocks such as banks, securities, and insurers have climbed significantly while foreign net buying shows signs of weakening in the next sessions.
"Correction may come in the next few sessions," the analysts wrote.
On the Hanoi Stock Exchange, the HNX-Index also inched up 0.18 percent to end at 88.74 points as the advancers more than doubled the decliners.
Liquidity also improved here with 73 million shares worth nearly 895 billion VND (41.1 million USD) traded by the end of the session, up more than 40 percent in both volume and value over the previous session's levels.
Foreigners also bought a net value of nearly 25 billion VND (1.2 million USD) worth of shares.
South Books and Education Equipment (SMN) debuted 4.4 million shares, equivalent to a charter capital of 44 billion VND (2 million USD) in the Hanoi market. SMN closed the first trading day at 12,000 VND each with 1,500 shares traded. This is the ninth new listing share this year and 359th stock here.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
