Friday, February 26 2021

VietNamNews

Shares gain on PM’s new decision on national exchange establishment

Update: December, 28/2020 - 18:31

 

A branch of insurance company Bảo Việt Holdings in Hà Nội. Shares of Bảo Việt Holdings (BVH) rose 3.4 per cent on Monday. Photo courtesy of BVH

HÀ NỘI — A gauge of Vietnamese stocks climbed on Monday following encouraging news about the Prime Minister’s new decision on the establishment of the national stock exchange.

Prime Minister Nguyễn Xuân Phúc issued Decision 37/2020/QĐ-TTg on the establishment of the Việt Nam Stock Exchange (VSE), with the aim of unifying the stock market and ensuring efficient, fair, open and transparent activities.

The VSE, having chartered capital of VNĐ3 trillion (US$130.2 million), will be headquartered in Hà Nội and operate as a one-member limited liability company wholly owned by the State. The Ministry of Finance will be the representative of State capital.

The Hà Nội Stock Exchange (HNX) and the Hồ Chí Minh Stock Exchange (HoSE) will become its subsidiaries, with 100 per cent of capital invested by the VSE, but will both operate independently.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.64 per cent to end Monday's session at 1,091.33 points.

The index had gained 1.59 per cent last week.

Nearly 723.9 million shares were traded on the southern bourse on Monday, worth VNĐ14.6 trillion.

The large-cap tracker VN30-Index was up 0.20 per cent to 1,054.23 points.

Fourteen of the 30 large-cap stocks in the VN30 basket increased while 13 declined.

“VN-Index continued its rally for most of the session and is now back over 1,090 points,” said BIDV Securities Co.

“Foreign investors were net sellers on both HoSE and HNX. Besides, market breadth was positive and liquidity increased compared to the previous session.

“According to our assessment, the VN-Index may still move towards the threshold of 1,100 points in the coming sessions,” it said.

Foreigners net sold VNĐ348.21 billion on HoSE, including Hoà Phát Group (HPG) with VNĐ85 billion, Military Bank (MBB) with VNĐ64.7 billion and Vincom Retail (VRE) with VNĐ60.1 billion. They were net sellers on the HNX with a value of VNĐ25.1 billion.

Nineteen out of 25 sector indices on the stock market gained ground, including logistics, wholesale, real estate, IT, energy, securities, healthcare, construction materials, insurance, banking and rubber production

On the opposite side, losers were food and beverage, seafood processing, retail and construction.

A number of blue-chips attracted cash flow such as insurer Bảo Việt Holdings (BVH), steel maker Hoà Phát Group (HPG), Vietnam National Petroleum Group (PLX), Phú Nhuận Jewelry (PNJ) and Vinhomes (VHM).

On the Hà Nội Stock Exchange, the HNX-Index climbed 2.14 per cent to 196.57 points.

Nearly 165.4 million shares were traded on the northern market, worth VNĐ2.3 trillion. — VNS

Send Us Your Comments:

See also: