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Bank shares in demand as banks report huge profits

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The capitalization value of some banks has increased by one billion dollars within a short time.

Bank shares in demand as banks report huge profits

Duong Cong Minh (left)

Within the first 30 minutes of transaction on April 1, STB shares of Sacombank attracted 6 million units transferred, worth VND130 billion.

Meanwhile, 57 million STB were traded on March 31. In the previous trading session, the bank of owner Duong Cong Minh saw a record transaction with 100 million STB transferred within one session.

As such, the trading value of STB alone in one session reached VND1.8 trillion. Prior to that, there were put-through transactions with value of up to VND1 trillion.

The STB price has triplef over the last year, from VND7,000 per share to VND21,000.

Sai Gon – Ha Noi Bank (SHB) of Do Quang Hien, known as boss Hien, has also attracted cash flow. Tens of millions of SHB shares were transferred each session in the last weeks, including orders to buy up to 23 million SHB at ceiling prices.

With trading prices hitting ceiling price levels for four consecutive sessions, SHB price increased by 40 percent.

SHB transactions in the last four years have left a strong impression on investors. At one session last week, 80 million shares were transferred, worth VND1.5 trillion.

Meanwhile, SSB shares of SeABank saw an unprecedented record among bank shares listed on HOSE. It saw prices increasing to ceiling levels for six consecutive sessions after entering the bourse last week.

SSB prices soared by 67 percent from the reference price level of VND16,800 per share on March 24 to VND28,000.

LienVietPost Bank shares also saw prices increasing for the last three sessions with a sharp rise in trading volume, while Techcombank and HDBank saw the same for five consecutive sessions.

Analysts csay that the prices of most bank shares are increasing, serving as a driving force for the stock market. Many bank shares, including VietinBank, ACB and MBBank, still have attractive prices.

Bank shares became more attractive after banks reported big profits for 2020, despite Covid-19 and projected big profits in 2021.

However, some experts have advised investors to be cautious when pouring money into bank shares, saying that most banks have not recorded additional bad debts caused by Covid-19 and have not made provisions against risks. Thus, less than brilliant business performances have not been reflected yet in reports.

In the first three months of the year, OCB and SSB officially began listing shares on HOSE, while BAB shifted from UpCom to the Hanoi Stock Exchange. The prices of the three shares are now all higher than the starting prices. 

M. Ha

Source: https://vietnamnet.vn/en/business/bank-shares-in-demand-as-banks-report-huge-profits-724574.html

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VN-Index drops with trade value surges

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VN-Index drops with trade value surges

An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.


Vietnam’s benchmark VN-Index fell 0.7 percent to 1,241.81 points Friday with trading value hitting a 10-session high.

The index stayed in the red throughout the day, dipping to around 1,231 points in the early afternoon before climbing and ending with a near 9-point fall. This is its biggest plunge in the last seven sessions.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 10 percent to VND22.4 trillion ($975 million), the highest of the past 10 sessions.

The VN30 basket, comprising the largest 30 capped stocks, saw 22 tickers in the red, with VCB of state-owned lender Vietcombank and VNM of dairy giant Vinamilk the biggest contributors to the drop of VN-Index.

VCB fell 2.3 percent. The ticker has been going sideways around the VND100,000 level since February after climbing to a new historic peak of VND107,000 in early January.

VNM dropped 2.9 percent to a nine-month low. The ticker continued its downward trend that began in January, having lost 25 percent in four months.

VHM of real estate giant Vinhomes fell 1.6 percent to its lowest level since March 30.

BID of state-owned lender BIDV lost 1.5 percent, having fallen nearly 17 percent since its mid-January peak.

On the winning side, HPG of steelmaker Hoa Phat Group rose 2.4 percent, and CTG of state-owned lender VietinBank gained, 2.1 percent. They were the top tickers pushing up the VN-Index this session.

Foreign investors were net sellers for the fifth session in a row to the tune of VND330 billion, with the strongest pressure on VPB of private lender VPBank and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.44 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.41 percent.

Source: https://e.vnexpress.net/news/business/vn-index-drops-with-trade-value-surges-4267353.html

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Inflation fears begin as economy recovers

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Customers shop at a supermarket in HCM City. VNA/ Photo

HCM CITY — The cost of raw materials used in many industries have risen sharply in the last few months, putting pressure on the prices of many essential goods.

Instant noodles, seasoning, cooking oil, and others have seen prices increase by 7 -10 per cent since the end of 2020.

The price of meat and poultry has increased by 10 -15 per cent.

Nguyễn Thị Trâm, a pig farmer in Đồng Nai Province’s Thống Nhất District, said the price of a 25kg bag of bran has increased from VNĐ245,000 in October last year to VNĐ295,000 now.

Prices of raw materials used to make feed, such as corn, rice bran and fish flour, are also rising.

But farmers cannot hike poultry price since they have to compete with cheap imported products.

Globally, the prices of raw materials and fuels are expected to rise again as COVID is gradually controlled, vaccination is done on a large scale and production and trade recover.

Dr Nguyễn Ngọc Tuyến of the Academy of Finance predicted the consumer price index (CPI) to rise more than last year but remain below 4 per cent for the year, the target set by the National Assembly.

Nguyễn Anh Tuấn, director of the Ministry of Finance’s price management department, warned there would be pressure on prices this year because of the rise in fuel prices.

But a spokesperson for a large supermarket chain in HCM City said the price of each item would be carefully considered before any increase is made, and essential goods are not expected to be affected much in general. —

Source: https://vietnamnews.vn/economy/942930/inflation-fears-begin-as-economy-recovers.html

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FTA providing impetus for Việt Nam – Chile trade

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Deputy Minister of Industry and Trade  Đỗ Thắng Hải  (centre) poses for a group photo with participants of the meeting in Hà Nội. — Photo courtesy of MOIT

HÀ NỘI — Despite there being no commitments on services and investment in the Việt Nam – Chile Free Trade Agreement (FTA), the pact has boosted trade and economic ties between the two countries.

The view was shared at the fourth meeting of the Việt Nam – Chile free trade council, which was held online and chaired by Deputy Minister of Industry and Trade (MoIT) Đỗ Thắng Hải and Vice Minister of Trade at Chile’s Ministry of Foreign Affairs, Rodrigo Yanez on Thursday.

According to the Ministry of Industry and Trade’s European – American Market Department, the two countries have enjoyed robust relations over the years.

Despite the difficulties posed by the COVID-19 pandemic, two-way trade in 2020 topped US$1.28 billion, up 4.43 per cent year-on-year and 2.5-fold higher than the figure recorded in 2013, prior to the FTA coming into effect.

Chile is one of Việt Nam’s four largest trade partners in Latin America, while Việt Nam is the largest trade partner of Chile in ASEAN.

Goods trade in the first four months of this year rose 15.3 per cent year-on-year to $401.1 million, with Việt Nam’s exports standing at $321.3 million, up 11.8 per cent.

Both sides recognised the efforts made to implement the FTA.

The subcommittee for trade in goods discussed matters regarding tariffs and origin of goods and considered the application of electronic certificates of origin to simplify procedures for exporters in both countries.

Meanwhile, the subcommittee for hygiene and phytosanitation worked on import procedures for several agricultural products.

Việt Nam has begun risk analysis on Chilean kiwi fruit while the South American country said it will begin analyses of Vietnamese rambutan in July.

Both agreed to step up measures to help Vietnamese and Chilean businesses capitalise on the Việt Nam – Chile FTA as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) after it is ratified by Chile. —

Source: https://vietnamnews.vn/economy/942657/fta-providing-impetus-for-viet-nam-chile-trade.html

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