Friday, March 29, 2024 7:50:46 PM - Markets open
VN-INDEX 1,284.09 -6.09/-0.47%
HNX-INDEX 242.58 -1.33/-0.55%
UPCOM-INDEX 91.57 +0.09/+0.10%
Trade war worries lifted, but market growth flat: analysts
Vietnam News - 10/14/2019 1:47:21 PM
 (0 ratings. You must sign in to rate.)
Concerns about the US-China trade talks have lifted for now, and investors are turning their attention to third quarter earnings reports and how listed companies will perform in the last three months of the year.
 
Local markets have already factored these events in, and foreign investors remain cautious about ongoing international disputes, so stocks are not expected to react strongly over the next few weeks.
 
Việt Nam’s benchmark VN-Index on the Hồ Chí Minh Stock Exchange finished last week at 991.84 points, up total 0.43 per cent from the previous one.
 
The minor HNX-Index on the Hà Nội Stock Exchange ended last week at 105.26 points, nearly unchanged from the previous week’s end of 105.16 points.
 
Both indices were weighed down by market caution as investors waited for statements from the two-day US-China trade talks which closed on Friday (local time) in Washington. The two sides reportedly came up with a deal to postpone their dispute, but analysts and businesses remained uncertain about the feasibility of the agreement.
 
But positive reactions from the US and China last weekend helped boost local market sentiment, easing investor concerns about the potential for a global economic recession.
 
“The two economies have overcome the most uptight stage of their relationship. They have clearly been willing to sit down and talk to reach an agreement,” Nguyễn Trung Du, director of investment services at VNĐirect Securities Corp, said.
 
The developments of the US-China trade relations would definitely have some impact on the Vietnamese market, Ngô Thế Hiển, vice director of the market analysis department at Sài Gòn-Hà Nội Securities Corp (SHS), said.
 
“If a deal is struck, both domestic and international markets will be boosted. If not, it wouldn’t be a disaster for the markets as long as the tensions don’t escalate,” Hiển said.
 
In recent months, the Vietnamese stock market had not been affected that much by the developments of the US-China trade row, so the VN-Index may hang between 980 and 1,000 points, he added.
 
Foreign investors would continue to be net sellers in risky markets and shelter in safe assets such as government bonds and gold, so it’s difficult to expect a strong wave of capital flowing into the market like the late 2017-early 2018 period, Du from VNĐirect said.
 
Net foreign selling last week reached VNĐ265 billion (US$11.4 million) on the Vietnamese stock market. Despite the figure being down 75 per cent on a weekly basis, it still indicated caution among foreign investors.
 
Investors were still focused on several listed companies whose stocks were highlighted by their earnings such as banks, consumer firms, retailers and tech companies, he said.
 
“But those firms’ stocks have been priced in earlier, so they won’t make a big impact on the market when the news is delivered,” Du said.
 
Investors were eyeing companies’ fourth-quarter and full-year earnings, and those with good nine-month performances were likely to grow in the last quarter, he added.
 
The banking, retail and tech sectors had provided the momentum in recent weeks. The VN-Index has gained 3.12 per cent since September 11 when investors began looking at companies’ third-quarter profit reports.
 
During that period, Vietcombank (VCB) has increased 10.5 per cent, tech group FPT Corp (FPT) by 7.4 per cent and dairy producer Vinamilk (VNM) by 6.6 per cent.
 
The level 1,000-point mark would remain a “mental” challenge for the VN-Index, Du said.
 
There would be no big difference on how the VN-Index would move in the short term because investors were still doubtful about the strength of the Vietnamese stock market, Nguyễn Hoàng Việt, senior market analyst at Vietinbank Securities Co, said.
 
In a bad scenario, the VN-Index may settle at 975 points if it failed to conquer the 1,000-point milestone, he forecast. — VNS
 
 
Read original article here
 
Newer News
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
18/03 Investors show strong interest in dividends at annual shareholders' meetings
15/03 VN-Index corrects, liquidity stays high
14/03 Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
13/03 Market rebounds from cautious sentiment
12/03 Losses in bank stocks weigh on market sentiment
12/03 ETFs continue to see strong outflows of foreign capital
Older News
12/10 Shares edge up but foreign traders prolong net selling
11/10 Stocks reverse in the afternoon on trade talk worries
10/10 VN stocks up but caution remains ahead trade talks
09/10 Large-cap stocks drive VN-Index up in early earnings season
08/10 Shares open week on negative note, foreign net sells continue
07/10 Different scenarios for VN-Index in Q4
04/10 VN-Index rescuded in last mintues by Vinamilk, BIDV
03/10 Shares lose steam as selling pressure increases
01/10 Vn-Index fail to conquer 1,000 points in afternoon trading
01/10 Vietnam remains frontier market: FTSE Russell
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,284.09 -6.09/-0.47%
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.