Vietnam News Network

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

Trade BCHUSD, Bitcoin and Cryptocurrencies

BUY & SELL BCHUSD | View BCHUSD News & Updates


Buy Sell BCHUSD, Bitcoin and Cryptocurrencies

Not spooked by Indochina liquidation, VN-Index rises above 550   2009-09-20 - Thanh Nien

The Ho Chi Minh City stock market continued its upward climb to rally above the 550-point level Monday as investor confidence was unshaken by Indochina Capital’s liquidation, brokers said.

 

 

The VN-Index, a measure of 170 companies and four closed-end funds on the Ho Chi Minh Stock Exchange, rose 8.6 points, or 1.57 percent, to close at 556.59.

Winners outnumbered losers by 92 to 59 as 23 issues remained unchanged. Nearly 63 million shares changed hands.

VNDirect Securities said the fact that Indochina Capital Vietnam, a closed-end Vietnam equities fund listed on the London Stock Exchange, would be liquidated within the next 12 to 18 months did not have a major impact on the Vietnamese market.

It also said that although foreign investors remained net sellers, their modest trading didn’t affect the market much.

Foreign investors pumped VND175 billion (US$9.8 million) into the market Monday while dumping shares worth VND251 billion ($14.1 million).

Vietnam International Securities Co., known as VISecurities, said the VN-Index would look up in the first days of this week before experiencing some corrections.

The brokerage expects the index to hover between 550-560 points this week.

Saigon Thuong Tin Commercial Joint-Stock Bank, the fourth-largest listed company on the Ho Chi Minh City Stock Exchange, was the most active stock by volume on Monday, with 6.3 million shares changing hands.



Other news

Meat rots in city ports as safety rules scare importers   2009-09-20

Vietnam maintains FDI growth despite crisis   2009-09-20

Vietnam to allow license-free export of fertilizer   2009-09-20

Eximbank wins approval to list on HCMC bourse   2009-09-20

Workers scarce as production picks up   2009-09-20

Vietnam cement makers seek halt to new licenses on surplus fear   2009-09-20

Vietnam cement makers seek halt to new licenses on surplus fear   2009-09-20

BUSINESS IN BRIEF 20/9   2009-09-20

Industrial ‘city’ proposed for Dung Quat Economic Zone   2009-09-20

Indochina Airlines: debt payment agreed and we’ll lease another aircraft   2009-09-20

Tra fish crisis watch   2009-09-20

Businesses to be taught benefits of clean and green production   2009-09-20

Chinese bank to fund shipyard expansion, power plant   2009-09-19

ANZ Vietnam to double its capital   2009-09-19