October 20, 2020 21:33 | About us
Language: Tiếng Việt | ພາ​ສາ​ລາວ | ខ្មែរ | русский | 中文

VnIndex went back to recovery streak

14:52 | 13/08/2020

The Vn-Index gained 0.46 percent to 846.92 points Wednesday since gold prices kept plummeting and banks were instructed to maintain low interest rates.

vietnam stock predicted to be resilient amid covid 19 resurgence Vietnam stock: Predicted to be resilient amid Covid-19 resurgence
telsa stock what to expect on quarterly report tomorrow wednesday Telsa stock: What to expect on quarterly report tomorrow on Wednesday
stock price today july 11 tesla stock is on the verge of becoming a bubble Stock Price Today (July 11): Tesla stock is on the verge of becoming a 'Bubble'
vnindex went back to recovery streak
(Photo: Vietnam Plus)

On Wednesday, the Vn-Index gained 0.46 percent to 846.92 points since gold prices kept plummeting and were instructed to maintain low interest rates, according to VnExpress.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 205 tickers gain and 180 lose. Total trading volume rose slightly over the previous session to VND4.5 trillion ($193.5 million), the same level as last month’s average daily trading.

According to analysts, the stock market in part being propped up by excess cash from investors trying to find an alternative stream of income at a time when social distancing measures have been imposed in several locations in Vietnam.

vnindex went back to recovery streak
(Photo: Investment)

During the last five days, gold prices plummeted also turned equity markets a more attractive investment option. Prices of SJC gold, Vietnam’s national gold brand, fell from VND62.4 million ($2,683) per tael last Friday afternoon to VND51.47 million ($2,213) Wednesday morning, a plunge of 17.5 percent.

Brokerage Bao Viet Securities also noted that on Monday the State Bank of Vietnam issued a document which asked banks to reduce operating costs, salaries and bonuses for staff so that they can keep lowering retail interest rates to support Covid-19 affected businesses.

With 78 advancers and 71 decliners, the HNX-Index fell 0.19 points or 0.17 percent down to 116.1 points. The trading volume reached 44.1 million units, worth 579.5 billion VND, decreased 25.2% in volume and 31.2% in value compared to the previous session, informed Economy and Urban.

vnindex went back to recovery streak
(Photo: VnEconomy)

Today UPCoM exchange received the support of large-capital stocks, helping this index to rise. At the close, with 94 gainers and 81 losers, the UPCoM-Index increased by 0.26 points or 0.47 percent to 56.78 points. The trading volume reached 26 million units, worth 404 billion VND.

PNJ of jewelry retailer Phu Nhuan Jewelry fell 0.9 percent, MSN of food conglomerate Masan Group, 0.7 percent, and VIC of private conglomerate Vingroup, HoSE’s largest cap, 0.1 percent.

Besides, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.17 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market added 0.46 percent.

Foreign investors kept being net sellers for the fourth straight session to the tune of VND98 billion ($4.21 million) on all three bourses, focusing on offloading VHM of Vinhomes, which kept its opening price, and NVL of real estate developer Novaland, which went down 0.5 percent.

floating markets exceptional cultural features of vietnams mekong delta Floating markets, exceptional cultural features of Vietnam’s Mekong Delta

The floating markets in the Mekong Delta are not only the places of trade but they also represent the unique customs and habits of Western ...

large batches of fresh vietnamese longan enter australian market Large batches of fresh Vietnamese longan enter Australian market

About 30 tonnes of fresh Vietnamese longans have been exported to Australia and distributed in the states of Southern and Western Australia during the past ...

vietnamese government asked local businesses to upgrade upon entering eu market Vietnamese government asked local businesses to upgrade upon entering EU market

Since the EU is a meticulous market, local businesses should be proactively innovative and try to meet high standards set on goods and services.

Candy Lee