Market outlook this week

Nearly 33,000 subscribers left Vietnamobile in the first three weeks last month, showcasing the difficulties the carrier faces in retaining customers. It received no request for subscriptions in the period, during which telecom giant Viettel welcomed over 24,600 new subscribers, according to the Ministry of Information and Communications. Vietnamobile, which aims to attract subscribers with a low-cost strategy, often receives complaints of low signal even in major cities, the small number of branches and poor customer service quality. In 2019, Vietnamobile and two other carriers accounted for just 4.61 percent of the market, while three state-owned giants Viettel, VNPT and Mobifone, claimed more than 95 percent, according to the ministry. Vietnamobile has blamed its difficulties on the limited spectrum it receives compared to the three main competitors, which it says limits it from providing the best services to customers. In 2019, the company had requested five … [Read more...] about Vietnamobile blames market struggle on unfair competition

The index plunged 13 points in the first 45 minutes of trading but quickly returned to the starting point and went sideways in the 1,160 range before ending with a marginal 0.17-point gain. It ended the week with four gaining sessions but was down 1.47 percent from Monday after plunging 18 points Thursday, when it entered the 1,190 range. This could show the investors’ lack of confidence that the index will return to the 1,200 peak it reached 2018. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 11 percent to VND14.99 trillion ($645.64 million). The bourse saw 264 stocks gain and 169 lose. The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 10 tickers gain, led by POW of electricity distributor PetroVietnam Power Corporation, up 6.7 percent, ending four consecutive losing sessions. It was followed by STB of Ho Chi Minh City-based lender Sacombank, up 1.9 percent, and GAS of state-owned PetroVietnam Gas … [Read more...] about VN-Index ends week in the green

PV Power's Vung Ang II thermal power plant, Hà Tĩnh Province. The company shares surged on Friday, hitting the maximum daily gain of 7 per cent. VNS/VNA Photo. HÀ NỘI — Shares edged higher on the last trading day of the week as the VN-Index pared losses. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 0.01 per cent to finish Friday at 1,168.69 points. The index extended the previous losses in the morning session, down 0.22 per cent. The market breadth turned positive as 264 stocks increased while 169 stocks dropped. And 67 stocks ended flat. More than 594.8 million shares were traded Friday, worth nearly VNĐ15 trillion. In a daily report, Bảo Việt Securities Co. said that the index might return to test a supporting territory of 1,150 - 1,155 points. The analyst from the securities firm assessed the level as a resistance territory that helps the market recover. "However, if the index falls under this resistance territory, it will test the supporting … [Read more...] about Market inches higher as VN-Index reverses course

The Hanoitimes - The February figure remained a significant one as this was the shortest month in a year, not to mention that the week-long Tet holiday fell on February. In February, local investors opened 57,086 new securities accounts, the third highest number of all time after last December and January 2021, according to the Vietnam Securities Depository (VSD). Investors at a securities company. Photo: Tran Quynh This resulted in 3,805 new accounts per day, excluding weekends and holidays. Compared to the previous month, the number of new accounts witnessed a sharp decline of over 30,000. But the February figure is still significant as this was the shortest month in a year, not to mention that the week-long Tet holiday fell on February. VSD’s report revealed out of 57,086 new securities accounts, up to 57,018 were from individual investors, and 68 from organizations. In contrast, the number of new accounts from foreign investors decreased by 39% … [Read more...] about Local investors open third highest number of securities accounts in February

The National Economic and Social Development Council  upgrades its export growth forecast to 5.8 percent from 4.2 percent. (Photo: VNA) Bangkok (VNA) – The Thai government has pledged to revitalise tourism, stimulate domestic spending , and spur exports and investment to help economic growth reach its 4-percent target this year, local media reported. Deputy Prime Minister Supattanapong Punmeechaow said the government still maintains an economic growth target of 4 percent this year although various economic forecasting agencies have downgraded their outlook to only 2.7-3 percent growth. The Fiscal Policy Office (FPO) recently slashed Thailand's economic growth forecast to 2.8 percent this year, down from 4.5 percent in October 2020, while the Joint Standing Committee on Commerce, Industry and Banking maintained its economic outlook at 1.5-3.5 percent, despite the distribution of the COVID-19 vaccine. Supattanapong noted three factors, namely exports, domestic … [Read more...] about Thailand persists with 4-percent GDP growth target this year