• Accordingly, at the end of the session, the index picked up 31.39 points to 1,423.02 points. Previously, the highest level of VN-Index ever set was 1,420 points, which was recorded in early July.

• More stories at Vietnam Insider’s homepage.

More than 936.2 million shares were traded for roughly VND28.379 trillion (US$1.24 billion). There were 355 stocks rising, 95 sliding, and 42 ending flat.

On the Hanoi Stock Exchange (HNX), the HNX-Index went up 6.56 points to close the session at 404.37points. Over 152.1 million shares, worth more than VND4.1 trillion, were traded on the northern bourse. There were 149 stocks increasing, 88 declining, and 114 ending flat.
The UPCoM-Index for the unlisted public companies increased by 0.79 points to 102.67 points, with more than 140.4 million stocks traded on the market for over VND2.78 trillion. There were 255 stocks increasing, 88 declining and 556 ending flat.

Foreign investors net bought of over VND1.02 trillion on HOSE and VND18.3 billion on HNX, while net selling over VND47.39 billion on HNX.

By SGGP.

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Source: Vietnam Insider

• Vietnam’s benchmark rose 0.35 percent to 1,339.54 points Monday, as analysts continue to advise investors to refrain from hasty decisions and observe the market short-term.

• More stories at Vietnam Insider’s homepage.

The index stayed in the green mostly throughout the day and closed nearly five points higher. This is the third session in the last five that it closed at 1,339 points.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 1.8 percent to VND22.88 trillion ($1 billion).

Analysts of Vietcombank Securities said in a recent note strong changes in the global financial market have created a negative sentiment among Vietnamese investors.

Analysts of MB Securities forecast that sideways movement would prevail this week in the absence of a new growth trend.

The VN30 basket, comprising the 30 largest capped stocks, saw 16 tickers in the green Monday, led by HPG of steelmaker Hoa Phat Group, up 3.9 percent.

The rise, which came as the company reported the highest ever amount of galvanized steel exports in a month in September, brought the ticker to its previous all-time peak in June.

PLX of fuel distributor Petrolimex rose 3.7 percent to the highest since Aug. 10.

POW of electricity producer Petrovietnam Power Corporation also gained 3.7 percent to a four-month high.

BVH of insurance company Bao Viet Holdings and GVR of Vietnam Rubber Group both rose 2.8 percent.

On the losing side, CTG of state-owned lender VietinBank fell 3.5 percent to the lowest since Feb. 19.

The ticker has been on a downward trend since June 28.

Other tickers in the red included HDB of HDBank, down 3 percent, and ACB of Asia Commercial Bank, down 1.6 percent.

Foreign investors continued as net sellers for the fourth straight session to the tune of VND344 billion, withs strongest pressure on CTG and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.23 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.21 percent.

By Vnexpress.

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Source: Vietnam Insider

Last week, the market weakened for the second week in a row with lower liquidity and net selling from foreign investors. According to the experts, given less positive financial results of businesses in the third quarter, along with negative movements around the world, the downtrend might continue this week. 

On the HCMC Stock Exchange (HoSE), the market benchmark VN-Index edged 0.53 per cent lower in the last session to 1,334.89 points, while the HNX-Index on the Hà Nội Stock Exchange (HNX) declined by 0.24 per cent to 356.49 points. 

For the week, both benchmark indices fell 1.2 per cent and 0.8 per cent, respectively. 

Related: Private sector leads foreign trade in the first nine months of HCMC

Last week’s liquidity decreased compared to the previous week and was lower than the average of the last 20 sessions, with a trading value of about US$972 million per session on the two main exchanges.

Of which, the trading value on HOSE slid by 11 per cent, with a fall of 23.3 per cent in trading volume to 3.2 million shares. On HNX, the trading value fell by 20.9 per cent equivalent to a trading volume of 699 million shares, down 26.5 per cent.

Last week, foreign investors net sold on both exchanges. Top three stocks being sold the most were HPG, VIC VCB. On the other hand, VNM was the most wanted stock.

After the debt crisis of China developer Evergrande, the stock market was hit by news that the country’s GDP in the third quarter plunged by 6.17 per cent, according to Mirae Asset Securities Vietnam.

The news raised concerns over the decline of business results in the third quarter. While many sectors were affected by the news, leading to a strong sell-off during the week, energy stocks recorded impressive performance.

Many key stocks in the sector surged more than 10 per cent such as GAS, PVD and DPM. Some mid-cap stocks of the industry like CNG, PVG, PGS even jumped more than 20 per cent. 

Also read: Investing in Vietnam: Why is Market Entry Strategy important for foreign investors?

Over the last two weeks, the VN-Index has moved in the same volatile scenario, which diminished in the first session of the week due to bad news, then recovered in the remaining sessions. After continuously creating bottoms in the last two weeks, the benchmark has stepped into the short-term downtrend with a narrow range. 

The securities firm forecast that the downtrend will continue this week and the losses may be around 2 per cent, so the expected support zone will be around the 1,316 – 1,320 point-level. Vietnam News reported.

Meanwhile, Vietcombank Securities Company (VCBS) said that the market benchmark experienced a choppy week amid the lack of supportive news.

Cash flow was still limited and showed no signs of returning to the market, as both trading volume and value were low. The strong and negative movements of major global indices like Dow Jones, S&P 500 and Nikkei 225, caused the VN-Index to plummet in the first session of last week.

However, these factors’ impact on Việt Nam’s stock market was not great, as energy stocks posted a weekly gain, while bank and real estate stocks slid and were unlikely to break out of the downtrend that has taken place in recent months.

Therefore, the negative impact of the strong fluctuations in the global and regional financial markets on investors sentiment is inevitable.

Nevertheless, VCBS expects that the country’s stock market in the medium and long-term is still positive, boosted by the gradual recovery of economic growth post-pandemic, which is in line with the Government’s loosening of social distancing orders while the COVID-19 prevention measures are still applied. 

VCBS also believes that the market division is likely to continue, as stocks with positive business prospects in the last quarter of 2021 and next year’s growth potential will keep attracting cash flows.

VCBS recommends that investors carefully assess companies’ business activities before disbursing and should prioritise stocks with growth potential that have not been fully reflected in prices.

On the technical front, Saigon-Hanoi Securities JSC (SHS) said that the trend of the market benchmark has become worse when it lost the threshold of 1,350 points.

SHS expected that the index may struggle and fluctuate between the resistance zone of 1,340 – 1,345 points and the support level of 1,330 – 1,335 points.

In the negative scenario, if the VN-Index loses the support zone around 1,330-1,335 points, the index might head to the psychological support level of around 1,300 points.

Most of the stock sectors traded down, with bank stocks losing the most, down 3.9 per cent in market capitalisation. 

On the other side, the energy industry gained the most, up 9.8 per cent in market capitalisation, thanks to the group of pillar stocks like GAS up 13.7 per cent, PetroVietnam Power Corporation (PV Power, POW) up 6.9 per cent,  and PVD up 10.8 per cent, according to Vietnam News.

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Source: Vietnam Insider

• VN-Index could rise by 40 points this week since it has established a support level at around 1,300, brokerages said.

• The index fell by 1.22 percent last week to 1,313 points. During the period it fell all the way to 1,280 points, but huge buying helped it regain 1,300.

• More stories at Vietnam Insider’s homepage.

Analysts at BIDV Securities Company said the fact that it has remained in the 1,300 range is a positive sign, and the index could rise to 1,350 soon.

They warned nevertheless that Covid-19 makes the market unpredictable.

KB Vietnam said the index has formed “two bottoms” and is likely to rise to 1,340.

But Vietcombank Securities was more circumspect, saying the index is likely to fluctuate in a 20-point range around 1,300 since there is no fresh news to drive it up.

“Investors are still reluctant to buy since the Covid-19 situation remains complicated.”

It advised investors to continue to watch the market and buy in small quantities with priority on mid-cap stocks.

Source: VNexpress.

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Source: Vietnam Insider

Vietnam’s benchmark VN-Index dipped 0.11 percent to 1,408.55 points Wednesday but with foreign investors net buying value the highest in nearly three months.

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Source: Vietnam Insider

Vietnam’s benchmark VN-Index on Tuesday closed for the first time at 1,405.81 points with a 1.13 percent increase fueled by Vinhomes, Hoa Phat Group and Techcombank tickers.

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Source: Vietnam Insider

Vietnam’s benchmark VN-Index rose 0.75 percent to 1390.12 points Friday, a new peak, with foreign investors being net sellers for the fourth consecutive session.

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Source: Vietnam Insider

Vietnam’s benchmark VN-Index failed to secure a place in the 1,380-point range with a 0.22 percent drop to 1,376.87 points Wednesday as most blue-chips ended in the red.

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Source: Vietnam Insider

The HoSE has also announced the imminent test of a new trading system provided by the Korea Exchange from June 14-August 8.

Amid recurring trading system crashes on the Ho Chi Minh City Stock Exchange (HoSE), Minister of Finance Ho Duc Phoc has requested the ministry’s inspectorate to carry out an administrative investigation on the stock exchange.

“Depending on the actual pandemic situation, inspectors would hold meetings with the HoSE,” stated an announcement from the Ministry of Finance.

In the past six months, the frequent overload of orders forcing the stock exchange to halt market trading has been a major source of frustration among investors as such issues have been putting them at risk.

The average transaction value in each trading session on the HoSE is estimated at around VND25-30 trillion (US$1.1 – 1.3 billion), a more than 10-fold increase against the pre-pandemic period in early 2020.

At the morning session on June 1, the strong capital inflows into the market pushed the liquidity to over VND21.7 trillion (US$947.2 million), causing the stock authorities to halt the afternoon session to avoid a potential system crash.

Investors voiced their dissatisfaction as many securities companies did not allow them to modify or cancel transaction orders on HoSE from June 2 to mitigate risks of overload. One week later, such functions have been reopened but only for a certain time frame in the day.

Among short-term solutions, the HoSE has raised the minimum trading lot from 10 to 100 or encouraged public firms to switch to the Hanoi Stock Exchange (HNX).

The HoSE has also announced the imminent test of a new trading system provided by the Korea Exchange (KRX) from June 14-August 8 that is subject to operate this year.

In March, the Vietnam Association of Finance Investors (VAFI) has proposed the privatization of the stock market authorities, namely the Vietnam Stock Exchange and the Vietnam Securities Depository (VSD), saying the move would help enhance their corporate governance capabilities to the level comparable to regional peers.

The VAFI has argued the fact that investors could not place their orders in the stock market as a result of the current issue that has “directly impacted their lawful rights and jeopardized the credibility of the stock market.”

This article was originally published in Hanoitimes

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Source: Vietnam Insider