Monday, September 24, 2018 12:21:47 PM - Markets open
VN-INDEX 1,009.90 +6.93/+0.69%
HNX-INDEX 115.54 -0.26/-0.22%
UPCOM-INDEX 53.45 -0.04/-0.08%
Shares up on good earnings reports
Source: VNS - 1/25/2017 1:05:44 PM
 (0 ratings. You must sign in to rate.)
Shares advanced on both local exchanges yesterday, driven by bank and energy stocks as investor confidence was positive for companies releasing good earnings reports.

The benchmark VN Index on the HCM Stock Exchange added 0.6 per cent to close at 691.36 points. The southern market index has increased by total 1.3 per cent in the last three sessions.

The HNX Index on the Hà Nội Stock Exchange gained 0.9 per cent to end at 83.74 per cent. The northern market index bounced back from a fall of 0.3 per cent on Monday.

Banks and energy firms had the strongest impact on the market yesterday.

Bank stocks continued to improve on expectations that more local banks will be traded on the stock market, the restructuring of the banking system will help the sector meet international standards and the Government will soon reduce its ownership in local banks, cafef.vn reported.

Seven of the nine listed banks advanced yesterday. Sacombank (STB) jumped 3.1 per cent and Asia Commercial Bank (ACB) rose 2.6 per cent, the best growth rates among bank stocks, while others such as Vietcombank (VCB) and Military Bank (MBB) were up between 0.9 per cent and 2.2 per cent.

Energy stocks also performed well as oil prices remained positive during the Asia trading session. US crude was being traded at US$52.96 a barrel, up 0.4 per cent from Monday and 3.7 per cent from January 18.

Oil prices are expected to increase this year to over US$60 a barrel and that could help boost the performance of energy firms in Việt Nam.

In the energy sector, PetroVietnam Gas Corp (GAS) rose 2.6 per cent, PetroVietnam Drilling and Well Services Corp (PVD) jumped 3.5 per cent and PetroVietnam Mud Drilling Corp (PVC) was up 1.2 per cent.

In addition, investor confidence was also bolstered by positive earnings reports released by some of the listed firms such as Coteccons Construction JSC (CTD) and Digiworld Corporation (DGW).

Coteccons in 2016 recorded a post-tax profit of VNĐ1.42 trillion, nearly double 2015’s number. Digiworld Corp saw a post-tax profit of VNĐ65 billion, a yearly increase of 7 per cent.

Market trading liquidity remained modest from the previous sessions ahead of Tết (Lunar New Year) holiday as investors held on to their cash and were unwilling to make further investments to avoid risks. Nearly 114.6 million shares were traded worth nearly VNĐ2.1 trillion.
Newer News
20/09 Stocks up slightly on profit-taking
20/09 Stocks up slightly on profit-taking
18/09 VN-Index down 3.73 points on September 17
12/09 Vietnam’s stock market capitalisation reaches 79.2 percent of GDP
10/09 Stock market pins hopes on foreign investors in September
30/08 VN Index rally ends on selling pressure
29/08 Large-cap stocks lift market
28/08 VN-Index struggles to maintain rally
27/08 VN Index to rise amid volatility, weak liquidity
25/08 Negative sentiment ends VN-Index rally
Older News
24/01 VN Index up for a second day
23/01 Stock market to remain quiet ahead of Tet holiday
20/01 Shares decline for a second day
19/01 Banks turn a market dampener
17/01 Shares slumps on holiday fears
16/01 Challenge awaits VN Index at 690 points
13/01 Bank, steel stocks pull market down
13/01 Open-end funds outperform VN-Index in 2016
12/01 Banks, energy firms push market up
11/01 Finance stocks push VN Index down
 
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 11:31:24 AM
VN-INDEX 1,009.90 +6.93/+0.69%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.