The local market gained big ground for a second straight session on Tuesday thanks to strong cash flow running to blue-chips, lifting the VN-Index past the 500-point level for the first time since April 11. After the VN-Index successfully broke above the 491-point resistance, sentiment was buoyed by FPT and VNM’s early rallies and soon swept through the broad market. Though failing to maintain the... 

As effects of the VND30-trillion housing loan subsidy package faded out last week, securities firms expect the local market to move in a narrow range with low liquidity this week, with investors expected to reduce trading to wait for more positive news. The market last week traded in thin range given a lack of news, especially in terms of business earnings releases. With investor sentiment leaning... 

The local stock market may repeat sideways movements this week as the interest rate cuts announced last week were already priced in and failed to buoy investor sentiment. Viet Dragon Securities Company said the HCMC and Hanoi stock exchanges actually got no macroeconomic news last week. News of the establishment of the Vietnam asset management company and of the VND30-trillion subsidy package for... 

The local market on Wednesday was seeing another slack trading day until active put-through transactions in the afternoon session lifted its total turnover to over VND1.1 trillion, the highest level since April 17. On the Hochiminh Stock Exchange, trading value increased by 28% against the previous day but around 50% of the value came from put-through transactions and 26% from foreign buying. Notably,... 

Securities enterprises predicted that liquidity on the local markets would not improve this week as investors would stay on the sidelines again before important macro news is announced. Last Friday, both markets were relatively quiet as the holiday-shortened trading week came to a close and there was little news so far on the second day of the 7th Central Party Committee meeting, which is scheduled... 

The local economy has yet to see signs of recovery as listed enterprises in various sectors continued to report disappointing business results in the first quarter of this year. Around 500 out of 700 enterprises listed on the two local exchanges have released financial statements in the first quarter. Of which, nearly 50 firms have incurred losses while many others have seen their profits tumbling... 

Having fallen to below VND40 million per tael in the morning, domestic gold prices bounced back strongly in the afternoon after gains in the global market, producing wildest price fluctuations in the gold market in as many years. Saigon Jewelry Company (SJC) at 2:00 p.m. quoted gold prices at VND40.2 million and VND41.1 million per tael for buying and selling respectively, down VND600,000 against... 

Despite a sharp rebound in the afternoon session, the local market lost ground for the third straight session on Tuesday as some large-caps such as BVH, MSN and HAG still closed in the red. The VN-Index bounced 12 points off an intraday low of 466.56 points as the selling pressure carried over from Monday subsided and bottom-fishers jumped in. The main index closed the day at 478.07, dropping 1.95... 

As more investors locked in profits, the local market tumbled for the second straight session on Monday, pushing the VN-Index down by a hefty 14.25 points, or 2.88%, against last Friday to close at 480.02. MSN, VCB and VIC together shaved nearly eight points out of the total loss on the main index while GAS, the biggest constituent in the VN-Index, survived the downturn after announcing big earnings... 

Securities enterprises predicted that the market would enjoy a sharp rebound today after the VN-Index failed to hold important resistances last week, but then it will enter a deep correction phase. Last Friday, the market drifted to the downside throughout the morning and then dropped sharply in late afternoon, reminiscent of Wednesday’s ETF (exchange traded fund) driven sell-off. As the Wednesday’s...