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Shares to climb on positive Q1 earning results



Shares are forecast to go up this week, propelled by foreign net buying and positive first-quarter business results from listed companies. 

FPT Corporation’s software programmers. FPT rose 2.9 per cent last week. 

Shares are forecast to go up this week, propelled by foreign net buying and positive first-quarter business results from listed companies.

The VN-Index on the Ho Chi Minh Stock Exchange declined for a second day on Friday, concluding last week at 1,231.66 points.

The index increased a total of 0.59 per cent last week.

More than 702.4 million shares were traded on the southern exchange on average during each session last week, worth VND16.6 trillion (US$720.8 million).

According to SSI Securities Joint Stock Company (SSI), after surpassing the 1,200-point landmark, the next target for the VN-Index will be in the range of 1,350 – 1,400 points.

“Therefore, corrections, if any, will create opportunities for investors to increase their stock exposure at more reasonable price ranges,” SSI said.

MB Securities Joint Stock Company (MBS) said the market closed last week on a negative note but still recorded a second consecutive week of increase.

“The decline was foreseeable after the recent rising streak, Q1 business results, as well as outcomes from the shareholder meeting season, will be the driving force for the market to continue its uptrend,” MBS said.

Rong Viet Securities Joint Stock Company (VDSC) said the decline of the VN-Index last Friday was modest and there had been positive movements in some stock groups.

This showed the cash flow had not shown signs of withdrawing from the market but was circulating among stock groups and helping balance the market under short-term profit-taking pressure.

VDSC expected the market to gradually stabilise and regain a positive position in the near future.

“This week, the market will undergo fluctuations with a sharp divergence following the business results of each company,” said Bao Viet Securities Co.

“The VN-Index will be supported by the zone of 1,225-1,230 points in the first sessions this week. In the middle of next week, the market is likely to experience drastic fluctuations in the April futures contracts expiration date.

“The domestic cash flow continues to be the key driver, supporting the market’s trend during this period.

“Large-cap stocks, especially the leading ones, will increase to support the current movement of the market. Meanwhile, medium and small-cap stocks shall see exciting developments next week,” the company said.

“Investors should maintain the stock exposure at 65-80 per cent. They can consider lowering the proportion of short-term positions if the index falls below the support zone of 1,225-1,230 points.

“Investors with high exposure can consider selling to reduce the proportion of short-term positions when the market approaches the resistance zone of 1,250-1,265 points,” it said.

Regarding movements of the stock groups, information technology stocks increased the most thanks to the increase of the pillars in the group such as FPT Corporation (FPT), up 2.9 per cent.

The IT group was followed by the material construction stocks, with gainers such as Hoa Phat Group (HPG), up 1 per cent, Nam Kim Group (NKG), up 3.6 per cent, and Hoa Sen Group (HSG), up 4.3 per cent.

The finance group also gained well with Bao Viet Holdings (BVH), up 1 per cent, SSI Securities Co (SSI) up 2.8 per cent, VNDirect (VND) up 18.2 per cent, Techcombank (TCB) up 0.8 per cent, Vietinbank (CTG) up 2.9 per cent, VPBank (VPB) up 2.2 per cent and Military Bank (MBB) up 5.9 per cent.

The HNX-Index on the Ha Noi Stock Exchange inched up 0.01 per cent to close last Friday at 293.79 points.

More than 172.8 million shares were traded on the northern exchange during each session last week, worth VND3 trillion. — VNS



VN-Index drops with trade value surges



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.


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Inflation fears begin as economy recovers



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. —


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FTA providing impetus for Việt Nam – Chile trade



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. —


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