Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates

Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Stock market continues along its merry way   2009-08-25 - Thanh Nien, Bloomberg

Though profit-taking stepped in and dragged down the Ho Chi Minh City stock market some time in the second session, it finished Tuesday higher at 528.85, marking a fifth straight day of gains.


But declines outnumbered advances by 105 to 40 as 25 stocks remained unchanged. More than 65 million shares changed hands.

Nguyen Anh Tuan, head of brokerage at HCMC-based Viet Dragon Securities Corporation told Thanh Nien the market trend is still positive in the short-term thanks to good macroeconomic news and major listed companies’ healthy earnings figures in the first seven months of this year.

“Investors are still optimistic about the stock market,” he said.

Foreign investors continued to be net buyers on Tuesday, buying shares worth nearly VND203 billion (US$11.4 million) while dumping VND169 billion.

Saigon Thuong Tin Commercial Joint Stock Bank., the fourth-biggest company on the Ho Chi Minh Stock Exchange, was the most active stock by volume, with 4.8 million shares changing hands.

In Hanoi, the HNX-Index snapped its five-day winning streak, declining 0.57 percent to close at 163.63.

Stocks’ performance

PetroVietnam Finance Co. (PVF), the fifth-biggest company on Vietnam’s main stock exchange, gained the most in eight sessions, rising 4.9 percent to VND47,200, the highest since June 16. The Hanoi-based company Tuesday started selling 9.9 million shares in PetroVietnam Drilling & Well Services Joint- Stock Co., according to a statement on the exchange’s website.

PetroVietnam Drilling & Well Services, the country’s biggest listed oilfield-services provider, fell for the first time in six days, losing 4.7 percent, to close at VND92,000.

Bao Minh Insurance Joint-Stock Corp., (BMI), which offers property and casualty insurance, slipped for the first time in five days, losing 3.6 percent, to VND31,800. The Ho Chi Minh City-based company said sales dropped 3.8 percent to VND1.14 trillion in the January-July period, according to a statement on its website. Sales fell as revenue from marine insurance services declined 12 percent, the statement said. It didn’t provide a profit figure.

Phu Nhuan Jewelry Joint-Stock Co. (PNJ), Vietnam’s only listed producer and trader of gold and precious stones, dropped for a second day, falling 2.8 percent, to a five-day low of VND87,000. The Ho Chi Minh City-based company said on the bourse’s website that it will issue 10 million new shares in October to its existing shareholders as bonuses. Additional shares can dilute the value of existing stocks.

Other news

Promoting Vietnamese goods at the Cambodian border   2009-08-25

Vietnam sells $100 mln of one-year domestic bonds at 2.98 pct   2009-08-25

Vietnam's BIDV raises VND1.36 trln via 10-yr bond   2009-08-25

Vietnam trade deficit through August falls 67 pct to $5.1 bln   2009-08-25

BUSINESS IN BRIEF 25/8   2009-08-25

Life insurers programming network expansion   2009-08-25

MPI official bullish on resort real estate sector   2009-08-25

Low-cost foreign-made jewellery penetrating Vietnam   2009-08-25

Promoting Vietnamese goods at the Cambodian border   2009-08-25

Dung Quat refinery shuts down for technical checks   2009-08-25

Vietnam to lower morning peak-hour power costs by 20 pct   2009-08-24

German wind turbine company to build plant in Vietnam   2009-08-24

Vietnam Airlines trades in old planes   2009-08-24

Food security plan to guard against menaces   2009-08-24