Tuesday, July 23, 2019 3:09:30 AM - Markets open
VN-INDEX 982.04 -0.30/-0.03%
HNX-INDEX 106.76 -0.31/-0.29%
UPCOM-INDEX 58.01 +0.47/+0.82%
Fed future plan on rate cuts lift VN stocks
Vietnam News - 6/21/2019 1:16:34 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares joined cheered global markets today after the Fed eyed rate cuts from next month and investors hoped for possible trade war solutions at the G20 summit next week.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange increased 1.00 per cent to close at 959.18 points.
 
The VN-Index has gained a total 1.60 per cent in the last two trading days.
 
Global stocks moved higher on Thursday after the US central bank decided on Wednesday not to raise interest rates and signalled rate cuts starting in July.
 
The move aims to support the global economy, which has been hit by worries about a recession, especially amid the US-China trade war.
 
The news eased investors’ worries as they had been worried by negative news in both international and domestic markets, according to MB Securities Co (MBS).
 
Bank stocks led the market up with the sector index gaining 2.4 per cent.
 
The best-performing bank stocks included Vietinbank (CTG), VPBank (VPB), Military Bank (MBB) and Vietcombank (VCB), which rose between 2.4 per cent and 3.7 per cent.
 
Vietcombank shares on Thursday rose 2.4 per cent to close at VNĐ71,500 per share, just below the record high of more than VNĐ73,000 per share in March 2018.
 
The market sentiment clearly improved, proven by the strong increase of trading liquidity, MBS said in its daily report.
 
Nearly 185.5 million shares were traded on the southern bourse, worth VNĐ4.4 trillion (US$189.7 million).
 
The figures were the highest since June 3.
 
Another factor that helped increase cash injected into the stock market was the difference between the VN30 futures and the VN30-Index.
 
The large-cap VN30-Index on Thursday surged 1.20 per cent to end at 864.59 points. The VN30 futures that expired on Thursday closed at 865 points.
 
The VN30 futures that will expire on July 18 ended Thursday at 884 points.
 
Such difference between the VN30 futures and the VN30-Index proved investors were very optimistic about the market’s short-term prospects, Sài Gòn-Hà Nội Securities (SHS) said in a note.
 
However, Thursday’s strong gain could only be technical and short-lived as the VN-Index had not run into its short-term uptrend, SHS said.
 
Factors that will weigh on the market sentiment in the short term include the portfolio reviews of exchange-traded funds (ETFs) and the G20 summit next week, which could deliver unexpected messages from the leaders of the world’s largest economies.
 
On the Hà Nội Stock Exchange, the HNX-Index rallied for a fourth trading day, adding 1.24 per cent to finish at 105.06 points.
 
The northern market index has risen a total 1.54 per cent since Monday.
 
More than 29.4 million shares were traded on the northern bourse, worth VNĐ373 billion. — VNS
 
 
Read original article here
 
Newer News
21/07 VN stocks to struggle amid mixed corporate earnings
19/07 VN stocks fall, mounting sell pressure hits large-caps
16/07 HOSE releases updates for VN30 basket
15/07 Calls for insider traders to be dealt with criminally
12/07 Shares extend rally on credit growth limit relaxation
11/07 Shares advance for second day on foreign buying
10/07 Deutsche Bank's restructuring not expected to harm VN market
09/07 Securities firms warn listed businesses may struggle to meet EVFTA standards
08/07 VN stocks may keep rising, driven by corporate earnings
05/07 Transparency needed for healthier corporate bond market
Older News
20/06 VN stocks saved by hopes for trade war truce
19/06 Local stocks quiet ahead of key events
18/06 Funds lose against VN-Index as trade war escalates
17/06 Vietnamese securities catch the eye of South Korean investors R
15/06 VN-Index recovers after three-day decline
14/06 Shares fall for third day of trading
13/06 Shares ease on low demand
11/06 Share rally narrows in afternoon trade
10/06 VN stocks forecast to move forward
07/06 VN stocks move higher following global good mood
 
Newsletter Signup
Top Stories
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Credit institutions warned about P2P lending
CPTPP boosts export opportunities in Japan
Deutsche Bank's restructuring not expected to harm VN market
Market Update
Last updated at 3:10:05 PM
VN-INDEX 982.04 -0.30/-0.03%
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.