Market wrap: VN-Index jumps to six-week high. The VN-Index hit a six-week high on Monday as it closed up 1.1%. Today was also the seventh consecutive positive trading session. GAS (+2.5%) was the leading contributor to the day’s gain as it experienced its fifth straight positive session. PNJ (+5.4%) surged to reach its highest share price since October 2018. PLX (+2.2%) hit a seven-month high. Other notable gainers included SAB (+2.3%), VCB (+1.5%) and VNM (+1.4%).
Market wrap: Stocks flat again; SAB jumps. The VN-Index crept up only eight hundredths of a percent on Friday to close the week up 2.5%. SAB (+4.9%) was the leading contributor to the small gain, surging to its highest price in nearly five months. Most banks were down as BID (-1.4%), VPB (-0.3%), HDB (-1.1%), EIB (-1.1%) and TCB (-0.6%) declined. Conversely, CTG (+0.5%) and TPB (+2.1%) experienced gains. POW (+1.6%) jumped 13.6% over the course of the week.
The VN-Index increased for a fifth consecutive session, but just barely, closing up a mere one hundredth of a percent. VIC (+1.4%) was the top contributor to the day’s tiny gain amid news that South Korean conglomerate SK Group has agreed to buy a 6.0% stake in Vingroup for USD1bn (see note above). VIC subsidiary VHM (+1.2%) also gained. On the negative side, SAB (-3.2%) dropped and POW (-1.9%) snapped its streak of four straight positive sessions.
The VN-Index rose for the fourth straight trading day on Wednesday, closing up 1.1%. It was the first time since March 12 that the index has increased by more than 1%. Nine of the top 10 stocks by market capitalization posted gains. Trading value on HOSE jumped to USD180.6mn, which is above the one-month average of USD154.4mn. VIC (+1.6%) and its subsidiaries VHM (+1.2%) and VRE (+1.7%) gained. Banks bounced back with TCB (+4.1%), BID (+1.5%), CTG (+2.9%) and VPB (2.2%) rising.
After losing ground on Tuesday morning, the VN-Index rallied in afternoon trading to close up seven tenths of a percent. Energy stocks were strong with GAS (+2.2%) as the leading contributor to the day’s gain. Notably, POW (+6.7%) and PVD (+5.5%) surged. Most banks fell, including BID (-0.9%), TCB (-0.9%), EIB (-2.2%) and HDB (-1.4%). ROS (+6.2%) jumped and has increased 13% over the past two sessions.
Market wrap: Stocks open week strong. The VN-Index opened the week on Monday with a six tenths of a percent gain to close at 958.5 points. VNM (+2.9%) jumped and was the leading contributor to the gain. For the first time in seven sessions, VHM (+1.2%) posted a positive gain. Other notable gainers included BID (+2.2%), BVH (+3.8%) and POW (+4.8%).
Fitch revises Vietnam’s long-term rating outlook to positive, expects 6.7% GDP growth in 2019. On May 9, Fitch Ratings revised Vietnam’s outlook to positive from stable while maintaining the long-term foreign currency issuer default rating (IDR) at BB. This revision is in response to strengthening external buffers from persistent current account surpluses, falling government debt levels, high economic growth rates and stable inflation.
The VN-Index hit its lowest point in nearly three months as it fell for the sixth consecutive day on Thursday, dropping four tenths of a percent to close at 947 points. Trading value on HOSE was USD270.8mn, far above the one-month average of SD150mn. GAS (-2.2%) was the leading contributor to the day’s loss. VHM (-1.3%) sank to its three-month low and has dropped 8.1% since the beginning of May. BID (-3.9%) slumped to a six-month low. On the positive side, DXG rebounded (+6.
The VN-Index fell for the fifth consecutive session on Wednesday, dropping seven tenths of a percent to close at 951.2 points. VHM (-2.6%) was the leading contributor to the loss as it hit its lowest price since February 18. On its second day of being listed on HOSE, HVN (-2.8%) fell. Fellow airline VJC (-1.3%) also declined. Meanwhile, HT1 (+3.5%) jumped to its all-time high
On Tuesday, the VN-Index fell a mere four hundredths of a percent to close at 957.6 points. BVH (+5.6%) was the leading contributor among gainers as it bounced back from six straight losing sessions. HDB (-4.4%) declined to hit its all-time low. Most energy stocks increased with GAS (+0.6%), PPC (+3.7%), PVD (+3.8%) and PLX (+0.3%) posting gains. However, POW (-2.5%) dropped.