VN-Index gains for fourth consecutive session, hits 9-month high
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), rose 4.08 points, or 0.36%, to 1,129.38 on Friday, marking its four-session gaining streak and the highest level since September 2022.
The major bourse saw 235 gainers and 200 losers, with nearly 907 million shares changing hands for VND18.2 trillion ($773.6 million). The top five stocks with the largest trading value were VPB of VPBank, VNM of Vinamilk, HPG of steel giant Hoa Phat, VND of VNDirect Securities, and STB of Sacombank.
Blue chips were the main support for the VN-Index expansion as their VN30 index surged 9.16 points to 1,126.76.
Banking stocks traded well, with VPB up 3.06%, MBB of MBBank 1.51%, ACB of Asia Commercial Bank 1.15%, STB 1%, and VIB of Vietnam International Bank 1.01%.
While large-cap securities codes like SSI of Saigon Securities, HCM of Ho Chi Minh City Securities, VND, and VCI of Viet Capital Securities all moved in a narrow range, smaller ones better gained, such as VIX of VIX Securities 3.39%, CTS of VietinBank 1.4%, and AGR of Agribank Securities 4.55%.
The manufacturing group saw the positive performance of large-cap stocks. Specifically, HPG increased by 2.21%, VNM 3.29%, MSN of Masan Group 1.31%, and SAB of brewer Sabeco 1.1%.
Most real estate tickers closed in red. However, some stocks “swam against the current”, such as QCG of Quoc Cuong Gia Lai hitting its ceiling price, CTD of Coteccons Construction JSC expanding 3.4%, AGG og An Gia Group 5.48%.
Energy and retail stocks also saw a divergence, while aviation tickers gained.
Foreign investors were net sellers on the HoSE after two consecutive net-buying sessions to the tune of about VND40 billion ($1.7 million). They mainly net sold SHS of Saigon-Hanoi Securities, VHM of Vinhomes, and KDH of Khang Dien Holding Corp.
The HNX-Index on the Hanoi bourse inched down 0.37 points to 231.54, while the UpCOM-Index on the unlisted public company market rose 0.21 points to 85.75.
- Read More
ABBank incurs $14 mln loss in Q3
Hanoi-headquartered An Binh Commercial Joint Stock Bank reported a pre-tax loss of VND343.5 billion ($13.59 million) in the third quarter of this year, while some other private Vietnamese banks posted strong profits.
Banking - Thu, October 31, 2024 | 9:29 pm GMT+7
Vietnam’s emergence as regional manufacturing hub a significant logistics opportunity: SuperPort exec
Southeast Asia’s rise as a vital logistics hub with Vietnam positioned as a key manufacturing center presents a significant business opportunity, says Yap Kwong Weng, CEO of Vietnam SuperPort.
Companies - Thu, October 31, 2024 | 9:01 pm GMT+7
Indonesia steps up support for textile industry
Indonesia’s President Prabowo Subianto held a close-door meeting with several ministers on Tuesday to discuss the current situation of Indonesia's textile industry, particularly focusing on textile giant Sri Rejeki Isman (Sritex).
Southeast Asia - Thu, October 31, 2024 | 6:01 pm GMT+7
Thailand speeds up plans to construct six new airports
Thailand’s Transport Ministry is accelerating development and construction projects on six airports with an aim to become the region's transportation hub.
Southeast Asia - Thu, October 31, 2024 | 6:00 pm GMT+7
Thailand develops eco-friendly seaport model
Thailand is striving to implement environmental protection and social sustainability solutions in developing the country’s major infrastructure projects, such as the development of Phase 3 of Laem Chabang Port, Thailand's only deep-sea port.
Southeast Asia - Thu, October 31, 2024 | 5:58 pm GMT+7
Indonesia intensifies oil palm cultivation to meet biodiesel demand
Indonesia is expanding its oil palm cultivation to increase crude palm oil (CPO) production as a raw material for 50% biodiesel (B50), according to the country’s Ministry of Agriculture.
Southeast Asia - Thu, October 31, 2024 | 5:56 pm GMT+7
Malaysia’s first domestic EV model opens for booking
The Malaysian multinational automotive company Proton's first electric vehicle (EV), the e.MAS 7, is now open for booking.
Southeast Asia - Thu, October 31, 2024 | 5:54 pm GMT+7
Thailand aims to become emerging leader in AI
Thailand is positioning itself as an emerging leader in artificial intelligence (AI) regulation and development, thanks to policies that support an approach that balances technological innovation with ethical considerations and workforce protection.
Southeast Asia - Thu, October 31, 2024 | 5:53 pm GMT+7
Vietnam PM calls for more investment from Qatar’s $475 bln sovereign wealth fund
Vietnamese Prime Minister Pham Minh Chinh has called on the Qatar Investment Authority (QIA), Qatar's sovereign wealth fund with total assets amounting to $475 billion as of 2023, to ramp up its investment in Vietnam.
Industries - Thu, October 31, 2024 | 4:43 pm GMT+7
FPT Retail earns $6.5 mln in Q3 profit, to expand FPT Shop chain
Vietnamese retail major FPT Retail made a profit after tax of VND165 billion ($6.52 million) in the third quarter of this year, while it incurred a loss of VND13 billion ($514,000) in the same period last year.
Companies - Thu, October 31, 2024 | 3:56 pm GMT+7
Germany’s PNE opens rep office for $4.6 bln offshore wind project in central Vietnam
Germany’s PNE AG, a leading developer of renewable energy projects, has shown its determination to proceed with a mega offshore wind power project in central Vietnam by opening a representative office there.
Energy - Thu, October 31, 2024 | 2:43 pm GMT+7
Saudi Arabian energy giant ACWA Power ready to invest $5 bln in Vietnam
Saudi Arabian private energy giant ACWA Power stands ready to invest up to $5 billion in Vietnam, a senior executive said Wednesday.
Industries - Thu, October 31, 2024 | 2:39 pm GMT+7
Effective M&A deal depends on thorough understanding, value addition potential: Kido exec
An effective M&A transaction depends on fully understanding the company being acquired in order to create added value, says Kido Group CEO Tran Le Nguyen.
Companies - Thu, October 31, 2024 | 1:22 pm GMT+7
No budget apartments in Vietnam, chronic supply-demand gap widens
Vietnam saw no supply or transaction of low-cost apartments priced below VND25 million ($988) per square meter in the third quarter, says a real estate report by the Ministry of Construction.
Real Estate - Thu, October 31, 2024 | 1:10 pm GMT+7
Vietnam steel major SMC remains bogged down with difficulties
Steel manufacturer SMC Trading Investment JSC has been actively selling assets to generate cash for debt repayment and maintain operations since the beginning of this year.
Companies - Thu, October 31, 2024 | 10:41 am GMT+7
Vinhomes’ earnings fall 39% to $777 mln in Jan-Sep
Vinhomes, the largest residential housing developer in Vietnam, booked a net profit of VND19,642 billion ($777 million) in the first three quarters this year, down 39.2% year-on-year.
Companies - Thu, October 31, 2024 | 9:58 am GMT+7
- Consulting
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
In trade and investment, ASEAN and China are better together
-
AI can be a game changer for Vietnam tourism
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?