Shares are forecast to move sideways this week as investors brace for dreary quarterly earnings reports that could offer more clarity on how badly corporate profits have been damaged by the novel coronavirus pandemic.
Stronger profit-taking is expected in the coming days as the benchmark VN-Index is on track to touch 800 points again and that short-term peak will be an opportunity for investors to realise their profits.
The Hanoi’s Health Department joined hands with the Hanoi Centre for Disease Control conducted rapid Covid-19 testing for nearly 200 traders and related people at Nga Tu So market, Dong Da district on April 19.
A three-day rally does not mean Vietnamese shares have returned to the growth track as risks are still persistent and there is no clue they have faded away, experts have said.
Foreign investors in January bought a total net value of VND46 billion (nearly US$2 million) worth of shares on the Unlisted Public Company Market (UPCoM).
The number of investors opening new accounts in 2019 fell from the previous year, according to the Vietnam Securities Depository (VSD).
Southeast Asias largest ride-hailing firm, Grab,has announced plans to invest an additional US$500 million in Vietnam over the next five years.
After having declined for four straight weeks, the Vietnamese market may rebound in December as analysts and securities companies expect that cheaper shares will attract hungry investors amid the world’s volatility.
Hung Vuong Corporation (HVG), one of the biggest seafood processors in Viet Nam, plans to sell five million treasury shares to raise capital to supplement business activities and enhance operational efficiency.
Following a global trend of share buybacks, many Vietnamese businesses are now repurchasing their own stocks to stablise prices.
The VN-Index had rallied between the end of October and the beginning of November, with strong growth of large-cap firms.