The VN Index on the Ho Chi Minh Stock Exchange inched down 0.22 per cent on February 1 to end at 908.67 points.— VNA/VNS Photo Returning from the one-week Tet (Lunar New Year) holiday, Viet Nam’s benchmark VN Index is forecast to grow strongly with banks leading the market upturn. The VN Index on the Ho Chi Minh Stock Exchange inched down 0.22 per cent on February 1 to end at 908.67 points. The southern market index has gained 1.8 per cent since the beginning of the year but recorded a slight weekly loss of 0.02 per cent before the holiday. The HNX Index on the Ha Noi Stock Exchange rose 0.58 per cent during the pre-Tet trading week to finish at 103.34 points. The northern market index, however, declined by 0.85 per cent from last year. In its 2019 strategy report, VNDirect Securities Corporation (VNDS) expected the VN Index to “end the year at around 990 points, up 11 per cent from 2018 year-end levels.” The company also said “Viet Nam’s stock … [Read more...] about VN Index returns from Tết, aims at 990 points
Best performing etfs 2017
Funds suffer losses on poor market performance
Over the past year, most investment funds in Viet Nam’s equity market have seen negative growth in net asset value per share (NAVPS) due to the poor performance of the market indices. NAVPS is an expression for net asset value that represents the value per share of a mutual fund, exchange-traded fund (ETF) or a closed-end fund. It is calculated by dividing the total net asset value of the fund or company by the number of shares outstanding. NAVPS is also referred to as the book value per share. This year, the stock market witnessed the choppiest year since the 2008 global financial crisis. The VN-Index declined for the first time after five consecutive years of rallying in parallel with the growth momentum of the economy. It achieved a record high gain of 47 per cent in 2017. The VN-Index, Viet Nam’s benchmark stock index, set an all-time peak of 1,211 points on April 10, but then suffered a sharp decline of 27 per cent, to end 2018 at 892.54 points, down 9.3 per cent from … [Read more...] about Funds suffer losses on poor market performance
BUSINESS NEWS IN BRIEF 20/11
New trends in Vietnam’s rice exports 2018 is witnessing new trends in Vietnam’s rice export sector, notably the priority of exporting high-quality rice through international bidding as well as stricter and more diverse trade barriers from importing countries. Preliminary data by the General Department of Customs shows that Vietnam exported 264,500 tonnes of rice in October, generating a revenue of US$135.56 million, up 22.96% in volume and 31.8% in value, compared with the same month last year. The total volume of rice exports in the first ten months of 2018 was 5.15 million tonnes, worth US$2.6 billion, representing year-on-year increases of 6.62% and 21.49% in volume and revenue respectively. What is notable during the period is that the price of Vietnamese rice has now surpassed that of Thailand, averaging at more than US$500 a tonne, up about 15%. In 2016, Vietnam exported 4.8 million tonnes of rice, bringing in US$2.1 billion. The respective volume and revenue figures … [Read more...] about BUSINESS NEWS IN BRIEF 20/11
Investment funds make modest gains
Investment funds reported their growth rates had been outpaced by the banking system’s one-year saving rate, which is around 6.6 per cent, data on cafef.vn showed.— Photo cafef.vn Most investment funds in Viet Nam’s equity market have recorded modest gains and were beaten by the growth of the benchmark VN-Index in the past three quarters. At the end of September, the benchmark VN-Index on the HCM Stock Exchange gained total 3.34 per cent from its 2017 end of 984.24 points. The large-cap VN30 Index, which represents the group of large-cap stocks with the greatest impact on the movement of the market, was up nearly 2 per cent during the nine months. Investment funds reported their growth rates had been outpaced by the banking system’s one-year saving rate, which is around 6.6 per cent, data on cafef.vn showed. Among foreign-owned investment funds that out-performed the VN-Index in the first nine months, the best-performing was the Sweden-based Tundra Vietnam Fund … [Read more...] about Investment funds make modest gains
Big players hit hard by unstable stock market in Vietnam
In the first half of 2018, at least 13 major funds and investors on Vietnam’s stock market suffered negative growth rate in their net asset value (NAV), which is value per share of a fund on a specific date or time. Leading this was Hanoi-based Hestia Joint Stock Company registered on the Unlisted Public Company Market (UPCoM) on the Hanoi Stock Exchange (HNX), which saw its NAV falling by 19.4 percent. Thien Viet Securities Joint Stock Company came second with its Thien Viet Growth Fund 2 (TVAM TVGF2) on the Ho Chi Minh stock exchange (VN-Index) dropping 11.6 percent. Other funds and investors in the negative growth list include U.S.-based VanEck Vectors Vietnam ETF (VNM ETF), Passion Investment, Pyn Elite Fund, the TCEF fund of Techcom Capital Co. Ltd, SSI Sustainable Competitive Advantage Fund (SSI SCA), VCBF Leading Investment Fund (VCBF-BCF), Vietfund Management Company (VMFVF4) and Vietnam Enterprise Investment Limited (VEIL), managed by Dragon Capital Group. Why this … [Read more...] about Big players hit hard by unstable stock market in Vietnam
BUSINESS IN BRIEF 19/6
Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6