Friday, March 29, 2024 8:55:02 AM - Markets open
VN-INDEX 1,290.18 0.00/0.00%
HNX-INDEX 243.92 0.00/0.00%
UPCOM-INDEX 91.48 0.00/0.00%
VN stocks progress ahead of reports
Vietnam News - 4/9/2019 1:27:05 PM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Vietnamese shares took off yesterday as oil prices increased and news on annual shareholder meetings and 2019 business plans helped cushion investor confidence amidst a lack of supportive news.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.84 per cent to close at 997.56 points.
 
The southern market index increased by 0.86 per cent last week.
 
More than 163.6 million shares were traded on the southern bourse, worth VNĐ3.43 trillion (US$147 million).
 
Banks and petro firms proved to be the drivers yesterday.
 
The two indices gained 1.8 per cent and 3.2 per cent, respectively, data on vietstock.vn showed.
 
The expansion of oil prices on global trade helped bolster investor confidence in local energy stocks.
 
Brent crude rose sharply 1.4 per cent last Thursday to end last week at $70.34 a barrel. It gained 0.5 per cent to trade at $70.66 a barrel yesterday.
 
Among local petro stocks, PetroVietnam Gas (GAS) jumped 3.1 per cent and PetroVietnam Drilling and Well Services (PVD) gained 4.1 per cent.
 
Investors also focused on listed banks ahead of their annual shareholder meetings.
 
Most of the 10 banks listed on HoSE will hold their annual shareholder meetings in April.
 
Among those banks, Vietcombank (VCB) increased by 2.3 per cent, Vietinbank (CTG) rose 1.8 per cent and Bank for Investment and Development of Vietnam (BID) added 1.3 per cent.
 
An Phát Plastic and Green Environment JSC (AAA) had told local media pre-tax profit in Q1 was VNĐ270 billion, exceeding its 2018 full-year figure by VNĐ17 billion.
 
AAA surged 6.8 per cent following the news.
 
On the Hà Nội Stock Exchange, the HNX-Index climbed 0.98 per cent to end at 108.93 points.
 
The northern market index gained stretched by total 0.41 per cent during the previous trading week.
 
The northern market was driven by Asia Commercial Bank (ACB) and Sài Gòn-Hà Nội Bank (SHB) – which will organise their annual shareholder meetings on April 23.
 
Asia Commercial Bank has released the key documents that will be presented at its coming annual shareholder meeting. The bank plans to pay a 30 per cent dividend for 2019 and targets VNĐ7.28 trillion in profit.
 
But market trading liquidity remains a big challenge for the stock market as investors hold onto their money due to lack of supportive news.
 
Investors were running away from large-cap stocks and directing their cash into mid-cap and small-cap stocks, according to VNDirect Securities analyst Nguyễn Trung Du.
 
Market trading liquidity may increase in the next few weeks when the market received good news from international market and listed companies’ shareholder meetings, Du added. — 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
09/04 VN-Index nears 1,000-point mark on April 8
08/04 Few stock-focused funds beat VN-Index in Q1
08/04 HoSE to help foreign investors
05/04 VN stocks change little on lack of purchasing power
04/04 Vietnam remains in FTSE Russel’s watchlist for reclassification
04/04 Oil stocks narrow market's decline
03/04 Market drops despite global rally
03/04 Securities draft law remains confusing: report
02/04 Shares extend gains at start of week
01/04 Caution may continue dampening market
 
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 8:54:59 AM
VN-INDEX 1,290.18 0.00/0.00%
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.