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Good news cannot push stock prices up

Despite the rapid-fired good news about the macro economy, stocks remain dirt cheap. The VN Index could not stay firmly at the 500 point threshold, while HNX Index could not emerge to the 62 point level. Analysts have noted that the current factors back the rise of the stock market. The bank interest rates have been on the decrease, thus paving the way for businesses to access bank loans to expand... 

Shares subside as foreign investors sell blue chips

The market fell sharply again last week, primarily due to strong selling pressure in blue-chips, including property developers Vingroup (VIC), Hoang Anh Gia Lai (HAG), Vietinbank (CTG), Vietcombank (VCB), steelmaker Hoa Phat (HPG) and PetroVietnam Gas (GAS). On the HCM City Stock Exchange, the VN-Index lost 1.95 per cent over the previous Friday’s close at 493.93 points. Both average trading... 

VN-Index sheds over 10 points

Despite positive second-quarter business results of some leading firms such as VNM, GAS, SSI and DRC, the local market fell sharply in the second straight losing session on Wednesday given a strong wave of selling early on. Inflation edged up for the second month in a row, sparking investor concerns that higher prices could further dampen already weak demand in the country, said Viet Capital Securities... 

Regional stock market rallies warned on sustainability

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned that the current rising capital inflows to stock markets in Southeast Asian nations may be unsustainable. “Such growth rates are unsustainable and they may be seen as evidence of a bubble,” ICAEW said in its latest report, called “South East Asia Economic Insight Q2/2013”. Stock markets in countries under the Association... 

New stimulus plan buoys stock market

While the stock market in general reacted positively on May 15 to a new 30 trillion VND (1.4 billion USD) real estate support package, shares of companies in the sector saw little change. The package was designed to go to social housing and low-cost projects, not listed property developers. As a consequence, shares of PetroVietnam Construction (PVX), Hoang Quan (HQC), Licogi 16 (LCG) and Dic Corp (DIG)... 

Invest ASEAN-Vietnam promotes capital market connectivity

The 2013 Invest ASEAN-Vietnam conference was organized for the first time by the Ho Chi Minh City Stock Exchange (HOSE) on March 30. Tran Dac Sinh, chairman of the HOSE Board of Directors, stressed that Vietnam must follow the common regional and international trends of connectivity and integration. The ASEAN connectivity, initiated by stock exchanges within the bloc with HOSE being a founding member,... 

Hanoi Exchange introduces new bond trading system

The Hanoi Stock Exchange has introduced the second version of the Government bond trading system, which will be used for the first time from March 18 when Circular 234/2012/TT-BTC takes effect. The system was upgraded in response to provisions in the circular concerning risk management and repurchase agreement (repo) trading. A repo agreement occurs when the selling party agrees to repurchase bonds... 

Foreign investors hunting for Vietnamese stocks

Accepting to pay 30-50 percent higher than the market prices, foreign investors have shown their strong determination to buy the stocks of Vietnamese enterprises now, when the stock prices are at the deepest low. The Japanese Tokyo Mitsubishi Bank has agreed to pay US$743 million to buy 20 percent of stakes of Vietinbank, one of the biggest commercial banks in Vietnam, the biggest ever merger &... 

Vietnam moves ahead with the plan on merging two stock exchanges

The merger of the two stock exchanges of Hanoi and HCM City is expected to be decided in 2013, after the State Securities Commission (SSC) submits the merger plan to the Prime Minister. Under the Decision No. 1826 of the Prime Minister, the reshuffling of the stock market, insurance companies and the restructuring of the stock exchanges, the renovation process would be implemented in two stages. In... 

Brokers report contrast pictures of 2012 profits

Although the overall picture of losses and gains is still unclear, many securities enterprises reported contrast situations in 2012 with some posting up big profits while others incurred heavy losses. Around 40 securities have submitted 2012 financial statements to local stock watchdogs, of which only seven firms suffered losses. Sacombank Securities Company (SBS) incurred the biggest loss of around... 
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