Saturday, July 4, 2020 10:40:20 PM - Markets open
VN-INDEX 847.61 +5.23/+0.62%
HNX-INDEX 111.55 -0.06/-0.05%
UPCOM-INDEX 56.26 +0.37/+0.66%
VN-Index stops declining, tech shares jump on earnings report
Vietnam News - 9/13/2019 12:49:49 PM
 (0 ratings. You must sign in to rate.)
Vietnamese shares headed upwards Thursday, driven by the hunt of technology and banking stocks and positive status of the US-China trade relations.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.70 per cent to close at 976.07 points, marking its strongest daily growth since August 21.
The VN-Index had lost total 0.50 per cent in the previous two trading days and total 1.50 per cent since the end of August.
More than 141.3 million shares were traded on the southern bourse, worth VNĐ3.26 trillion (US$140.5 million).
Technology and banking sectors were the two best-performers as investors shifted their attention following announcements.
The tech sector index jumped 4.3 per cent – the highest of all sector indices – after its largest firm by market capitalisation FPT Corporation (FPT) announced the August revenue and profit were up 17 per cent and 30 per cent yearly, respectively, to VNĐ2.3 trillion and VNĐ454 billion.
After eight months of the year, FPT Corp posted a total gain of 21 per cent in revenue and 28 per cent in profit yearly, which reached VNĐ17 trillion and VNĐ3 trillion, respectively, FPT Corp announced on Thursday.
The eight-month results have beaten FPT Corp’s full-year targets by 4.2 per cent and 10.9 per cent, respectively, the company added.
FPT Corp shares on Thursday jumped 4.4 per cent to end the day at VNĐ56,500 ($2.43) per share – the new high since the firm’s HoSE debut in mid-December 2006.
Attention was also shifted to local banks as their shares were boosted by share buyback plans and asset sales.
HDBank shares (HDB) gained 1.2 per cent after the bank revealed a plan to buy back 49 million shares as treasury shares.
Before HDBank, VPBank (VPB) had announced it would purchase 50 million shares in the fourth quarter. The bank shares on Thursday increased by 2 per cent.
Vietinbank shares (CTG) rose 1.8 per cent, contributing to a two-day rise of 2.1 per cent on expectations the bank will sell some of its bad debt collaterals.
The market sentiment was cushioned by positive comments from both the US and China, which showed their willingness to keep the trade war from escalating, according to Sài Gòn-Hà Nội Securities (SHS).
Large-cap, mid-cap and small-cap indices on the southern bourse all increased with growth ranging from 0.67 per cent to nearly 1 per cent, data on HoSE showed.
Other sectors that saw firm shares advance included insurance-finance (up 2 per cent), mining and energy (up 1.6 per cent), retail (up 1.3 per cent), building materials (up 2 per cent) and rubber (up 2.3 per cent).
Among those companies, shares of retailer Mobile World Investment Corp (MWG) was up 1.5 per cent to close at VNĐ116,800 per share.
SHS said in its daily report that the VN-Index may continue rising in the next trading days if good news about companies are delivered and the market demand is strong enough to boost the market trading liquidity above the 20-day average, or the market growth is just short-lived and technical.
On the Hà Nội Stock Exchange, the HNX-Index soared 0.94 per cent to end at 101.11 points. The northern market index inched up 0.20 per cent on Wednesday.
More than 25.8 million shares were traded on the northern market, worth VNĐ406.3 billion.  VNS
Read original article here
Newer News
02/07 VN-Index rebounds, propped up by PMI data and interest cuts
01/07 VN stocks fall for sixth straight day
30/06 Shares plummet on GDP growth record low and surges in COVID-19 fatalities
29/06 July to be a hard month for Vietnamese shares
27/06 VN stocks end week lower on large-cap decline
26/06 VN stocks drop for a third day
18/06 Shares retreat on divergence of large-caps
18/06 Decree drafted to empower SSC to halt market trading
16/06 Shares suffer virus second-wave fears
15/06 Local stocks to struggle with increased caution
Older News
12/09 VN stocks make modest gains on mid-cap and small-cap firms
11/09 VN stocks fall amid lack of support
09/09 Market trend hard to predict after difficult week
06/09 VN-Index drops for three straight days
06/09 Total UPCoM firms reach 850 in August
04/09 Shares decline after holiday due to investors' vigilance
03/09 Trade wars, speculation to hurt stocks
30/08 VN stocks up slightly as CPI moves forward
29/08 VN stocks down, worries remain over the market uptrend
28/08 VN stocks fall as investors face uncertainties
Newsletter Signup
Top Stories
Reference exchange rate remains unchanged
New traders flock to market
Reforms needed to attract foreign portfolio investment: fund manager
Reference exchange rate down 2 VND on June 4
Foreign Ministry: Vietnam recovers economy during, after COVID-19
Market Update
Last updated at 3:10:03 PM
VN-INDEX 847.61 +5.23/+0.62%
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...
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.