VN-Index goes sideways in 1,100-point territory

By Nhat Huynh, Minh Hue
Sun, December 3, 2023 | 1:45 pm GMT+7

Vietnam’s benchmark VN-Index has been hovering around the 1,100-point area for more than a month amid declining liquidity.

Foreign investors were net sellers to the tune of VND707.2 billion ($29.1 million) during the November 27 to December 1 trading week on the HoSE. Photo by The Investor/Trong Hieu.

Foreign investors were net sellers to the tune of VND707.2 billion ($29.1 million) during the November 27 to December 1 trading week on the HoSE. Photo by The Investor/Trong Hieu.

The index, which represents the Ho Chi Minh Stock Exchange (HoSE), closed the November 27 to December 1 trading week at 1,102.16 points, up 6.55 points or 0.6% over the previous week.

Notably, the humble gain of 0.73% in the Friday session also made it one of the most active markets in Asia.

BID of BIDV bank, GAS of PV Gas and VNM of Vinamilk had the most positive impact on the index, with BID alone contributing nearly 0.7 points.

Meanwhile, VHM of real estate giant Vinhomes was the most negative influencer.

The week’s trading value on the HoSE was VND65.27 trillion ($2.69 billion), a sharp fall of 28.9% from the previous week. The per-session average on all the three exchanges – HoSE, Hanoi Stock Exchange (HNX) and the unlisted public companies market (UPCoM) – was VND15 trillion ($617.3 million), down 28.9% week-on-week and 20.8% compared to the five-week average.

Foreign investors continued to be net sellers to the tune of VND707.2 billion ($29.1 million) and VND11.69 billion on the HoSE and the HNX, respectively.

Some sectors that did well included agriculture with HAG of Hoang Anh Gia Lai Group (+13.46%), DBC of Dabaco Group (+4.58%), and LSS of Lam Son Sugar JSC (+3.56%); industrial real estate with ITA of Tan Tao Investment and Industry Corporation (+7.48%), VGC of Viglacera Corporation (+6.15%), and GVR of Vietnam Rubber Group (+3.07%); maritime transport with DVP of Dinh vu Port Investment & Development JSC (+10%), VOS of Vietnam Ocean Shipping (+8.7%) and HAH of Hai An Transport & Stevedoring JSC (+6.77%); and retail with PET of Petrovietnam General Services JSC (+ 5.94%).

Meanwhile, most real estate and banking stocks declined on strong selling pressure.

Analysts with Saigon-Hanoi Securities (SHS) believe that the VN-Index is still re-testing the 1,100-point zone and there is a high possibility for a new uptrend. In the medium term, after a period of deep decline, the market needs a long time to move to a new balance area and accumulate again, they say.

For short-term investors, disbursement opportunities will appear if the VN-Index remains above 1,100 points and liquidity improves gradually. Medium and long-term investors can wait for opportunities to buy more shares.

Another broker, Vietcombank Securities (VCBS) says the VN-Index will continue a period of accumulation with mixed gaining and losing sessions. Investors can put down money for short-term surfing goals during corrections, but this should be done with care.

Viet Dragon Securities (VDSC) recommends that investors take advantage of recovery sessions to restructure their portfolio and minimize risks.

Comments (0)
  • Read More
Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Three construction majors in Vietnam are interested in building an expanded expressway connecting Ho Chi Minh City with the Mekong Delta provinces of Long An and Tien Giang for an estimated VND38.6 trillion ($1.52 billion).

Infrastructure - Tue, November 19, 2024 | 8:18 pm GMT+7

Singapore, Germany upgrade relations to strategic partnership

Singapore, Germany upgrade relations to strategic partnership

Singapore and Germany have decided to elevate their ties to a Strategic Partnership to promote closer cooperation in areas of mutual interest such as security, artificial intelligence (AI) and clean energy.

Southeast Asia - Tue, November 19, 2024 | 8:01 pm GMT+7

Thailand’s rice shipment up 20% in 10 months

Thailand’s rice shipment up 20% in 10 months

Thailand exported 8.37 million tons of rice in January-October, a year-on-year increase of 20%, according to the Ministry of Commerce.

Southeast Asia - Tue, November 19, 2024 | 8:00 pm GMT+7

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s legal framework lacks consistency and the foreign direct investment (FDI) sector will soon face challenges related to the Law on Environmental Protection, says Bruno Jaspaert, CEO of Deep C Industrial Zones.

Economy - Tue, November 19, 2024 | 6:30 pm GMT+7

Vietnam shares sink on extended foreign selloffs

Vietnam shares sink on extended foreign selloffs

Vietnamese equities fell for a fourth consecutive day on Tuesday as foreign traders extended their selling spree.

Finance - Tue, November 19, 2024 | 5:10 pm GMT+7

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s QuickPack, a specialist for household goods and hygiene products, will invest €30 million ($31.8 million) in Vietnam’s Mekong Delta province of Long An.

Industries - Tue, November 19, 2024 | 4:24 pm GMT+7

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire Vincent Tan has evinced investment interest in a residential project owned by convicted tycoon Truong My Lan, chairwoman of Van Thinh Phat Group, lawyers for the latter have disclosed.

Real Estate - Tue, November 19, 2024 | 4:17 pm GMT+7

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

Limited consultations between state agencies and the parliament’s primary focus on wording are issues with Vietnam’s legal framework adversely affecting property and infrastructure projects, say experts and corporate leaders.

Economy - Tue, November 19, 2024 | 3:40 pm GMT+7

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

Chinese President Xi Jinping has called for more substantial cooperation between China and Vietnam, including the pacier implementation of three railway routes linking the two nations.

Infrastructure - Tue, November 19, 2024 | 3:08 pm GMT+7

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnamese housing developers are offering several incentives including deferred principal payments and interest support to stimulate demand and boost liquidity as the year nears its end.

Real Estate - Tue, November 19, 2024 | 2:29 pm GMT+7

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia-based EQ Resources Limited has acquired its fellow firm Tungsten Metals Group (TMG), which owns and operates the largest ferrotungsten (FeW) factory outside China.

Companies - Tue, November 19, 2024 | 11:00 am GMT+7

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities JSC (TCBS) has become the largest securities company in Vietnam by charter capital after finishing a rights offering last week.

Finance - Tue, November 19, 2024 | 9:11 am GMT+7

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam's airports operator ACV expects to earn $145 million from non-aviation services this year, accounting for around 18.83% of its total revenue, which is modest compared to other countries, said deputy general director Nguyen Duc Hung.

Companies - Tue, November 19, 2024 | 7:45 am GMT+7

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.

Companies - Tue, November 19, 2024 | 7:00 am GMT+7

Indonesia promises Asia-Pacific investors more incentives

Indonesia promises Asia-Pacific investors more incentives

Indonesian President Prabowo Subianto recently told the press that he will create more incentives and expand special economic zones (SEZs) so as to lure investors from Asia-Pacific.

Southeast Asia - Mon, November 18, 2024 | 11:01 pm GMT+7

Indonesia, Brazil enhance aviation cooperation

Indonesia, Brazil enhance aviation cooperation

Indonesia's state-owned aircraft manufacturer, Dirgantara Indonesia (DI), and Brazilian aerospace company Embraer have signed a memorandum of understanding (MoU) to expand collaboration in the commercial aviation sector.

Southeast Asia - Mon, November 18, 2024 | 11:00 pm GMT+7