Vietnam Stock Market News

Advertisements

Random Post

• Vietnam Ministry Cuts Import Taxes on Small LCDs
• Six export items exceed $1b threshold
• Vietnam low cost airlines
• Vincom drops most in two months on $50 mln investment plan
• Oversupply of offices for lease warned
• Enriching Marketing Knowledge and Technique

Vietnam Stock Market News

Vietnam Business » Vietnam Stock Market News » Shares rise on improved mood

Shares rise on improved mood

On the HCM City Stock Exchange, the VN-Index gained 1.37 per cent over the previous weeks close to end the session last Friday at 511.18. Trading volumes increased by over 22 per cent to 45.5 million shares, worth an average of over VND1.4 trillion (US$76.6 million) per day.

Improved global markets cheered domestic investors last week, helping lift indices on both national stock exchanges.

Ocean Group (OGC) was the most-active share on the southern exchange with a daily volume of 2.2 million shares.

On the Ha Noi Stock Exchange, the HNX-Index rose by 3.24 per cent, ending the week at 163.35 points. Trading values increased 53 per cent to reach an average of VND1.3 trillion ($69.4 million) per day on an average volume of 41.2 million shares.

PetroVietnam Construction (PVX) was the most heavily-traded share on the Ha Noi bourse, accounting for nearly 13 per cent of the northern markets total volume last week with an average of 5.3 million shares changing hands daily.

The global economic situation showed signs of improvement as the US consumer confidence index rose to a two-year high and Spain successfully sold government bonds. China and Singapore also both committed to act to prevent the growing bubble on their property markets.

The local economy also got a boost from a favourable appraisal by the World Bank and prospects for low inflation figures in June, as well as positive second-quarter earnings results by listed firms.

June inflation data and a decision on the prime rate for the month of July were expected this week.

"The local market rallied thanks to the collective impacts of the recovery on both global and local stock exchanges, supported by economic data," said said FPT Securities Co analyst Nguyen Van Quy.

Quy said if the world markets sustained stability, the local stock market would turn back to a rally period, triggered by good performance results of listed firms.

"The market is being supported by listed companies earnings results, additional shares issues, new strategic investors and new projects," agreed Fiachra Mac Cana, managing director of HCM City Securities Cos research department.

Second-quarter results would likely improve on the first quarter, and market prospects looked positive this week despite the unstable investor psychology in recent weeks, he said. "We are still confident in the market."

Foreign investors concluded last week as net sellers on both national stock exchanges, however, responsible for a net sale of over 3.6 million shares. Although they remained net buyers by value in HCM City of VND187 billion ($9.9 million) worth of shares, the figure represented a decline of 23 per cent from the previous week.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

More Vietnam Stock Market News:

• Power cuts drive brokers and investors crazy
• Investment funds eye OTC shares
• Investors told to buy shares right now
• Vietnam stock market catches global cold
• More companies plan to list shares on Vietnams bourses
• Markets stumble on sluggish trading, pennies gain
• Vietnam Stock Market breaks downward spiral
• Vietnam Likely to Ease Securities Investment Lending
• Stocks suffer worst week of year
• Vietnam stock market will list many more commodities

Popular Vietnam Business News

Deposit Interest Rate Rises to 10.2 Per Cent

Although the prime rate set by the State Bank of Vietnam (SBV) was kept unchanged at 7 per cent per annum in July, many banks still revised the borrowing rate.

Prospect for higher FDI

. After a standstill period due to bad impacts of the global economic slow down, more and more foreign companies have come to Vietnam to seek investment and business opportunities.

Leading B2B websites in Vietnam

. More than 100,000 Vietnamese firms have to date joined www.alibaba.com, one of the global leaders in business-to-business (B2B) e-commerce Websites, said China’s Alibaba Group. .About 4,000 Vietnamese small- and medium-sized

Vietnam airline market takes off

Economic recovery is set to spark demand, competition and reasonable fares on Vietnam�s air travel market, industry insiders say. Vo Huy Cuong, head of the Civil Aviation Administration of Vietnam�s

Workers quit factories for more cushy jobs, labor shortage ensues

After the Tet holidays, Tran Thi Phuong from northern Nam Dinh Province did not return to the Hanoi-based garment firm where she had worked for several years. The 28-year-old woman

Vietnam warned of inflation and trade deficit

The trade deficit is likely to prompt a further fall of the Vietnamese dong this year while food, housing and transport costs are leading inflation higher, according to a Standard

Uy Nam Construction Investment Joint Stock Co (Unicons) EPS at 16,644 dong/share in 2009

Uy Nam Construction Investment Joint Stock Co (Unicons) has recently reported audited fiscal report in 2009 with 663.01 billion dong in revenue from sales and service provision, up 24.16 percent

Vietnams export levels bear little impact from European debt crisis

According to trade experts under the Ministry of Industry and Trade, the impact of the debts crisis in Europe is not all that significant because the Vietnamese dong is still

Advertisement