1. Financial market News
VN-Index swings back into the green
The VN-Index surged 1.49 percent to 1,067.46 points Friday, offsetting all losses of the previous losing session. The index had plunged 1.43 percent the previous day, with short-term profit taking pressure from investors pushing total trading volume to VND14.53 trillion ($629.53 million), this year’s peak, not including sessions with major M&A put-through transactions. Securities firm BVSC had forecasted that the market would see a major movement this session, which is when investment funds restructuring the composition of their Exchange Traded Funds (ETF) at the end of the quarter. When reviewing their ETFs for restructuring, funds will look at criteria such as performance, market capitalization, foreign ownership limit, and trading volume to determine which stocks to keep, sell or buy. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 301 stocks gaining and 129 losing. Total trading volume abated nearly 10 percent over the previous session, to VND13.24 trillion. The VN30-Index for the stock market’s 30 largest caps did much better than the general market, soaring 1.94 percent, with 25 gaining tickers and 5 keeping their opening prices.
Detailed information here.
2. Banking news
Vietcombank becomes largest cap company in Vietnam stock market
This is the first time that the state-run bank claims the first spot in the stock market in terms of market capitalisation. With share prices of VND99,900 (US$4.33) and 97,800 (US$4.24) apiece during December 14-15, Vietcombank has become the largest firm in Vietnam’s stock market with its market capitalisation at VND370.51 trillion (US$16.04 billion).
Detailed information here.
3. International finance News
VN-Index swings back into the green
The VN-Index surged 1.49 percent to 1,067.46 points Friday, offsetting all losses of the previous losing session. The index had plunged 1.43 percent the previous day, with short-term profit taking pressure from investors pushing total trading volume to VND14.53 trillion ($629.53 million), this year’s peak, not including sessions with major M&A put-through transactions. Securities firm BVSC had forecasted that the market would see a major movement this session, which is when investment funds restructuring the composition of their Exchange Traded Funds (ETF) at the end of the quarter. When reviewing their ETFs for restructuring, funds will look at criteria such as performance, market capitalization, foreign ownership limit, and trading volume to determine which stocks to keep, sell or buy. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 301 stocks gaining and 129 losing. Total trading volume abated nearly 10 percent over the previous session, to VND13.24 trillion. The VN30-Index for the stock market’s 30 largest caps did much better than the general market, soaring 1.94 percent, with 25 gaining tickers and 5 keeping their opening prices.
Detailed information here.