TPP: 11 countries agree to move ahead without the US. On the sidelines of the Asia – Pacific Economic Cooperation (APEC) Trade Ministers meeting in Hanoi yesterday (May 21), the 11 remaining countries of the Trans Pacific Partnership (TPP) agreed that they will continue to pursue the trade deal without the US.
Market wrap: Stocks jump to nine-year high; brokerages surge. The VN-Index enjoyed its largest increase in four months on Friday, advancing almost one percent, as the market broke out of a week-long sideways move to reach its highest level since 2008. PLX (+7.0%) led gainers amid no apparent news catalyst. The firm is up 29% over than last three weeks and is now the sixth largest listed company on HOSE by market capitalization.
For a fifth day in six, the VN-Index moved less than a tenth of a percent, this time down slightly amid robust combined trading volume in HCMC and Hanoi of USD261 million. Rubber names, such as DPR (+2.8%) and PHR (+2.3%), rose as investors bet a three-month slump in global rubber prices has bottomed. PHR also announced today the ex-rights date for its 2016 cash dividend. MBB (+3.9%) jumped to a record high and has gained 28% so far this year as investor eye the bank's
The VN-Index rose Wednesday after four days of sideways trading and now stands within about half a percent of a fresh nine-year high. VNM (+2.4%) advanced on strong foreign buying while DHG (+3.8%) reached a record high and is up 56% year to date after announcing the record date on a bonus share issuance. TCM (+2.9%) jumped to a 14-month high and has doubled since the beginning of the year. We raised the textile firm to OUTPERFORM yesterday.
Stocks remained stalled out near 725 for a fourth day on Tuesday after the index inched lower by less than a tenth of a percent. Combined trading volume in HCMC and Hanoi jumped to USD309 million, the highest ever. PLX (+4.9%) jumped to its highest level since listing last month after Nghi Son refinery announced that it delayed commercial production from Q3 2017 to early next year. This seems to be a move cheered by investors amid concerns PLX may not get good prices from that refinery.
Market wrap: Stocks flat for third day; MWG jumps
The VN-Index traded sideways on Monday amid strong combined trading volume in HCMC and Hanoi of USD250 million. It was the third straight trading session where the index has moved less than a tenth of a percent. MWG (+5.4%) soared to a record high ahead the record date next week for a 1:1 bonus share dividend. CEE (+20%), a subsidiary of CII, hit its trading ceiling on its first day of trading on the HOSE.
Market wrap: Stocks scratch out small gain; textile names surge. The VN-Index rose for a fourth straight day on Friday, but just barely, inching up by less than a tenth of a percent. For the week, the index advanced 0.8% for a third consecutive week of gains. Today's slight increase continued the recent trend of subdued volatility as the index hasn't moved more up or down more than 1.1% so far this year.
The VN-Index increased slightly for a third day of gains amid heavy trading volume, with combined trading in HCMC and Hanoi topping USD260 million, 73% above its average over the past year. CII (+3.5%) jumped to an all-time high and is up 43% so far this year after the company said Thursday that its subsidiary, CEE, plans to list shares next week. PLX (+3.2%) rose to just short of a new record high. The firm announced strong Q1 results earlier this week.
Stocks crept up about a third of a percent on Wednesday as gains in the financial sector offset profit taking in selected large caps. The index peaked above 727, within shouting distance of last month's nine-year high of 731.33, before fading in the afternoon to close below 725. The top four contributors to the market's gain today were banks, led by BID (+3.0%), CTG (+2.0%), VCB (+0.8%) and STB (+4.2%). MBB (+1.5%) jumped to a record high and is up 26% so far this year but is still well below
The VN-Index rose half a percent on Tuesday as investors set sights on large cap names such as VCB (+2.0%), GAS (+1.1%), VIC (+0.9%) and CTG (+1.1%). FPT (+2.8%) jumped to a ten-year high amid no apparent news catalyst. The firm had previously reported strong Q1 results. SAB (-1.2%) slumped to a four and a half month low as investors question the brewer's lofty valuation.