Stock losses extend for second day

Many big-cap stocks closed down on April 10, leading the VN-Index of the Hochiminh Stock Exchange to inch down for the second straight session this week.

A male employee monitors share prices on a computer screen at Hochiminh City Securities Corporation

Among the 10 biggest stocks by market capitalization, gas firm GAS and beverage company SAB were the only two gainers. Property firm VIC dipped 1.06% to VND111,800 a share, while its affiliate VHM fell 1.39% to VND92,500. Dairy firm VNM saw a slight fall of 0.07% to VND135,300 per share.

Lender CTG led the top ten list by liquidity, with 2.24 million shares changing hands. It was followed by its fellow TCB with 1.49 million shares traded.

Most blue-chips continued edging down. Only five stocks in the VN30 basket advanced, two others closed almost unchanged, and the remainder ended lower.

The VN-Index lost 6.57 points, or 0.66%, at 981.91. The session had 113 stocks making gains and 183 others dipping. The total volume of shares traded on the HCMC bourse was 159.9 million worth VND3.4 trillion, down 3% and 17.7% versus the day earlier.

 

The bourse saw 23.4 million shares transacted in block deals, with a total value of over VND610 billion.

KB Securities Vietnam JSC (KBSV) in a recently-released report forecast that the local stock market might bounce back, exceeding 1,000 points at the end of the second quarter, backed by foreign net buying, macro economic stability and the solid performance of enterprises listed on the stock market, reported by vietstock.vn.

In the first quarter of this year, the local stock market ranked second among the six markets in the region, after China, according to KBSV. Meanwhile, it was among the stock markets that steeply declined in the last quarter of 2018.

As for the HNX-Index of the Hanoi Stock Exchange, it failed to cling to its rebound when lender ACB ended lower, and its fellow SHB returned to its reference price at VND7,500 with 2.46 million shares traded.

The index fell by 0.27 points, or 0.25%, to 107.43 points. The northern bourse saw 33.2 million shares changing hands with a total value of VND455 billion, both down over 30% in volume and value against the day before. SGT

 
 

Other News

.
Corporate income tax reduction comes into effect
Corporate income tax reduction comes into effect
BUSINESSicon  04/08/2020 

Resolution 116/2020/QH14 granting a reduction of 30 per cent on corporate income tax (CIT) for eligible enterprises officially came into effect on Monday.

Big rearers win big
Big rearers win big
BUSINESSicon  04/08/2020 

Many animal husbandry enterprises are leveraging the pork supply shortage to sell at high prices, earning huge profits

VN businesses slow in preparing to enjoy preferential tariffs in EVFTA
VN businesses slow in preparing to enjoy preferential tariffs in EVFTA
BUSINESSicon  04/08/2020 

 Experts have raised concerns that Vietnamese businesses are slow in preparing conditions to enjoy preferential tariffs in the Viet Nam-EU Free Trade Agreement (EVFTA).

Probe into Tenma Vietnam’s alleged bribery underway: police official
Probe into Tenma Vietnam’s alleged bribery underway: police official
BUSINESSicon  04/08/2020 

The investigation into the Japanese-invested Tenma Vietnam company’s allegation of bribing civil servants and tax and customs officers of northern Bac Ninh province is still ongoing, according to a police official.

VN textile, electronics hardest hit in pandemic: official
VN textile, electronics hardest hit in pandemic: official
BUSINESSicon  04/08/2020 

Textile and electronics have been the two export-oriented sectors mostly impacted by the COVID-19 pandemic, an official has said.

Vietnam prepares to receive investors from Japan, the US, EU
Vietnam prepares to receive investors from Japan, the US, EU
BUSINESSicon  04/08/2020 

Japanese businesses have begun relocating factories to Vietnam, and it is expected that American and European businesses will also come soon.

VN Civil Aviation Authority's plans for new Quang Tri Airport face opposition
VN Civil Aviation Authority's plans for new Quang Tri Airport face opposition
BUSINESSicon  04/08/2020 

The Civil Aviation Authority of Vietnam (CAAV) plans to build Quang Tri Airport in Quang Tri province, but experts disagree with the idea.

Vietnam factory activity dips in July as Covid-19 impacts grow
Vietnam factory activity dips in July as Covid-19 impacts grow
BUSINESSicon  03/08/2020 

Despite a drop in output in July, firms remained confident in the 12-month outlook for production.

Enticing legal changes lure in foreign investors
Enticing legal changes lure in foreign investors
BUSINESSicon  04/08/2020 

Foreign investors are making new investments moves into Vietnam on the back of supporting policies and new rules. However, as some legal concerns remain, the development of the next steps still requires some preparation. 

Summary of new points of amended Law on Investment 2020
Summary of new points of amended Law on Investment 2020
BUSINESSicon  03/08/2020 

After more than six years in effect, the Law on Investment has been officially amended with a number of new articles to improve the country’s appeal to higher-quality foreign investment flows.

Outlining the preferential mechanisms for new PPP projects
Outlining the preferential mechanisms for new PPP projects
BUSINESSicon  04/08/2020 

Public-private investment projects play a significant role in developing infrastructure and have the potential to accelerate large-scale construction works across the country.

Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC
Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC
BUSINESSicon  03/08/2020 

HSBC economists forecast GDP expansion of 3% in 2020 for Vietnam, the only ASEAN country they expect to have positive growth this year.

Vietnamese startups bag millions of US dollars despite COVID-19 pandemic
Vietnamese startups bag millions of US dollars despite COVID-19 pandemic
BUSINESSicon  03/08/2020 

A slew of Vietnamese startups managed to secure millions of US dollars even in the midst of the rapidly escalating COVID-19 pandemic.

Capital inflows to Southeast Asian startups up 91 percent despite outbreak
Capital inflows to Southeast Asian startups up 91 percent despite outbreak
BUSINESSicon  03/08/2020 

Southeast Asian startups, especially e-commerce and fintech companies, have witnessed a significant increase in investment between April and June.

Sky-high livestock prices may breach competition law
Sky-high livestock prices may breach competition law
BUSINESSicon  03/08/2020 

Although many livestock companies could face an inspection to ensure they follow through on commitments to cut their prices, the market outlook still looks dreary in spite of the government’s call to stabilise the selling cost of live pigs.

Aligning with trade remedy principles
Aligning with trade remedy principles
BUSINESSicon  03/08/2020 

The EU-Vietnam Free Agreement (EVFTA) is a giant leap for Vietnam in international integration.

Electricity of Vietnam suggests not to extend deadline for wind farm FiT
Electricity of Vietnam suggests not to extend deadline for wind farm FiT
BUSINESSicon  03/08/2020 

In order to ensure transparency and stability in the selling price of wind power, EVN opposes the Ministry of Industry and Trade's proposal to extend the deadline on the current feed-in tariff (FiT) scheme for wind power projects

Ministry seeks to further open petroleum retail market
Ministry seeks to further open petroleum retail market
BUSINESSicon  03/08/2020 

The Ministry of Industry and Trade has called for allowing all foreign investors to further participate in the petroleum retail market.

Shares to correct on worries of virus surge
Shares to correct on worries of virus surge
BUSINESSicon  03/08/2020 

 Vietnamese shares may continue to fall this week as a spike in fresh coronavirus cases fuelled concerns that the path to economic recovery could be hindered.

Vietnam fulfills international commitments as EVFTA takes effect
Vietnam fulfills international commitments as EVFTA takes effect
BUSINESSicon  03/08/2020 

Vietnam will continue to fulfill its international commitments so that it can take full advantage of the EU-Vietnam Free Trade Agreement (EVFTA) and recover its economy amid a resurgence of COVID-19 pandemic.

 
 
 
Leave your comment on an article

OR QUICK LOGIN