Stock Market Vietnam stocks tumble The Saigon Times Daily Thursday, Dec 5, 2019,20:00 (GMT+7) Vietnam stocks tumbleThe Saigon Times Daily A securities employee monitors share prices. The local stock market fell today, December 5, 2019 - PHOTO: THANH HOA HCMC – The local market lost steam today, December 5, with the VN-Index falling nearly 0.3% from the session earlier. The benchmark index reversed course after bouncing back in the previous session. That rattled investors as they turned clueless about the upcoming market movements. According to Bao Viet Securities Company, the market is expected to move in the range of 950 and 970 points before clearer clues of direction emerge. In addition, it is forecast to make headway in the second half of December, particularly after the restructuring of exchange-traded funds (ETFs). In a recovery scenario, it will likely retest the resistance range of 990-995 points in the … [Read more...] about Vietnam stocks tumble
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VN stocks move slowly under market caution
A Vinamilk (VNM)'s power milk production plant. Gainers in the VN30 basket were construction group Coteccons (CTD), steel producer Hoa Phat (HPG), food and milk makers Masan (MSN) and Vinamilk (VNM), and PetroVietnam Gas (GAS). - Photo baogiaothong.vn Vietnamese shares gained slowly on Friday morning but investors were still cautious over the possibility of a market sharp fall. The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.19 per cent to close at 965.10 points. The VN-Index slid 0.27 per cent on Thursday. More than 88.3 million shares were traded on the southern bourse, worth VND1.86 trillion (US$80.4 million). Modest trading liquidity indicated investors were still concerned about a sudden decline of the stock market as there was currently little support from both domestic and international conditions. Gaining sectors on Friday morning included securities, technology, healthcare and pharmaceuticals, mining and petroleum, and building materials. Large-cap … [Read more...] about VN stocks move slowly under market caution
VN stocks step down as confidence fades on lack of news
Inside one of Mobile World Investment Corp's Bach Hoa Xanh store in HCM City. The company shares fell 2 per cent on Thursday. — Photo mwg.vn Vietnamese shares retreated on Thursday as investors were still cautious about the market's short-term outlook amid a lack of supportive information. The benchmark VN-Index on the Ho Chi Minh Stock Exchange fell 0.27 per cent to close at 963.27 points. The market had gained 1.31 per cent on Wednesday. The VN-Index was up as much as 0.37 per cent during the day to touch 970 points but selling increased towards the end of the day, pushing the index down. Most sectors were hit by selling pressure after they had made strong gains to boost the market the previous trading day. Thursday's decline had been widely expected as securities firms believed the VN-Index needed time to settle before rising. Banking, insurance, brokerage and retail stocks ended in negative territory with their sector indices dropping 0.5 per cent and 2.1 per cent. The … [Read more...] about VN stocks step down as confidence fades on lack of news
Property market fuelled by Viet kieu
According to Sunny Hoang Ha, associate director of International Sales for Savills Ho Chi Minh City, many overseas Vietnamese (Viet kieu) and foreigners have been showing interest in buying property in Vietnam. John Tran, a US San Jose-based Viet kieu, told VIR that he decided to buy properties in Ho Chi Minh City not only due to it being his hometown, but also for investment reasons. “Despite being born and having grown up abroad, I still keep my eyes on the development of Vietnam. I saw that in recent years, the property market here has been quite active. In particular, the renting yield is very attractive, which helped me to decide to invest in this market,” Tran told VIR. He added that, like many other Viet kieu who are hunting for a property in Vietnam, the business centre regions, like districts 1 and 3 of Ho Chi Minh City, are the most attractive. Another Viet kieu, who wished not to be named, told VIR that he was looking for developers who want to mobilise … [Read more...] about Property market fuelled by Viet kieu
Vietnamese banks see improved capital adequacy ratios
Vietcombank is one of the few banks to have met Basel II standards before the central bank's 2020 deadline. (Photo: VNA) Hanoi (VNS/VNA) - The capital adequacy ratio (CAR) of Vietnam's credit institutions has improved thanks to their increased equity. The latest report from the State Bank of Vietnam (SBV) released last week showed the CAR of credit institutions had inched up to 11.80 percent at the end of February from 11.57 percent in the first month of 2019. Previously, the CAR dropped from 12.14 percent at the end of 2018 to 11.57 percent in January 2019. The CAR of State-owned commercial banks rose from 9.31 percent to 9.42 percent, commercial banks from 10.56 percent 10.76 percent and joint venture and foreign banks from 23.53 percent to 24.67 percent. According to experts, the rise was due to the increased equity of the credit institutions, of which the equity of private commercial banks posted the highest rise of nearly 2.02 trillion VND (86.56 million USD) to more than … [Read more...] about Vietnamese banks see improved capital adequacy ratios