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Posts Tagged ‘Liquidity’

New treatments set to boost capital market’s liquidity, officials say

In Uncategorized on December 16, 2010 at 10:09 am

Many regulations will be released to boost Vietnam’s bond market, which has a healthy growth rate and a low liquidity, officials said.

A woman watches share prices updated on a computer screen at a HCMC-based brokerage (Photo:Minh Tri)

Deputy financial minister Tran Xuan Ha said it was necessary to set up tax exemptions for bond trading and focus on boosting the market’s liquidity. The Ministry of Finance released regulations on issuing bonds with large amounts and buying back bonds to increase the debts’ liquidity.


The ministry also speeded up the equitization and submitted plans on gradual sales of the state-owned shares to the government.


Statistics shows that bonds worth VND100 trillion (US$5 billion), mainly treasury bonds, were issued this year. However, only commercial banks were the buyers. Economists said the bond market’s liquidity was very low in the last 10 years.


The Asian Development Bank said in its recent report that Vietnam’s corporation bond market grew fastest among other countries in the region in the third quarter of 2010.


Corporation bond’s growth rate this year rose 51.9 percent year-on-year, almost double of the government bond’s 25.5 percent. However, in the third quarter of the year, corporation bond’s issue value fell 68 percent year-on-year, while government bond’s issue value dropped 43.6 percent year-on-year.


Despite its fast growth rate, Vietnam’s bond market with $15 billion in unpaid bonds at the end of September remains small compared with other countries in the region. Of the amount, government bonds are worth $14 billion.


Recovering stock market
Both stock markets in Hanoi and Ho Chi Minh City roared back last week as the investor confidence was restored. The daily trading volume at the two bourse reached an average amount of more than VND2 trillion ($100 million).


Analysts said the increasing trading volume showed investors pumped more money into market. Some brokers warned the stock market was overheated as many shares rose by the daily trading band of 5 percent for many days.


The Hanoi-based brokerage FPT expected the market would make corrections, as investors would take profits from the current winning streak.


However, financial experts said the market is often bullish at yearend. Foreign investors continued to be sellers recently, but they dumped penny shares only to restructure their portfolio, experts noticed.

Source: SGGP

Liquidity drops to ten-month low

In Uncategorized on November 1, 2010 at 8:41 am

Liquidity drops to 20-session low

In Uncategorized on October 14, 2010 at 6:32 pm

Movements of the VN-Index on September 22. (Photo: vietstock.vn)VN-Index, which tracks 256 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, rebounded on September 22. Liquidity severely fell to the lowest level since the beginning of this month as market lacked support from foreign investors.

The benchmark edged up 0.13 percent, or 0.58 points, to finish at 453.9 points.


Around 33.4 million shares worth VND908.2 billion changed hands, accounting for nearly 60 percent of trading volume the previous day.


Of the index, there were 80 gainers, 105 losers, while 76 remained unchanged.


Ocean Group Joint Stock Company (OGC) led the list of most active shares in volume for six consecutive days with 2.33 million shares changing hands.


Vietnam Export Import Commercial Joint Stock Bank (EIB) continued to rank second with 1.18 million shares.


Quoc Cuong Gia Lai Joint Stock Company (QCG) followed with 1.09 million shares.


Construction Joint Stock Company No.5 (SC5) shot up 4.98 percent to VND48,500.


Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC) advanced 4.96 percent to VND25,400.


OPC Pharmaceutical Joint-Stock Company (OPC) ceased its three-day losing streak, climbing 4.9 percent to VND45,000.


From September 20 to November 20, Viet Capital Securities Co., a major shareholder of OPC Pharmaceutical Joint-Stock Company (OPC), registered to sell 200,000 shares and buy 200,000 shares, sending its holdings to 581,581 shares, to restructure its investment category.


Decliners on the city bourse included South Logistics Joint Stock Company (STG), Ben Tre Forestry and Aqua Product Import Export Joint Stock Company (FBT), and Lilama 10 Joint Stock Company (L10).


From September 23 to November 23, Tran Van Nghia, member of the Board of Supervision of construction company Lilama 10 Joint Stock Company (L10), registered to sell 7,000 shares, cutting his holdings to 200 shares, accounting for 0.002 percent of the company’s chartered capital, for his family’s expenses.


Meanwhile, the smaller bourse in the north moved contrastingly as the Hanoi’s HNX-Index slid 0.04 points, or 0.03 percent, to 131.53 points. Trading volume sharply dropped over the previous session as just 26 million shares changed hands at VND655 billion.


The UPCoM-Index dipped 0.98 points to 46.75 points. Around VND6.8 billion were spent on 0.33 million shares on the market of unlisted shares as of 11:15 am local time.

Source: SGGP

Concern over bull-trap restrains liquidity

In Uncategorized on August 11, 2010 at 11:23 am

Movements of VN-Index on August 11. (Photo: vietstock.vn)The VN-Index recovered on August 11, put an end to its losing streak of five consecutive trading sessions. However, liquidity on the city bourse severely fell, as investors were concerned about the bull-trap at the beginning of the trading session.

Even though global stock markets faced many difficulties over the past 24 hours, stocks on the Ho Chi Minh Stock Exchange began today’s trading session easily, jumping up 1.41 points to 463.06. Trading volume in the first part of the trading session significantly improved over the previous day to 2.6 million shares, valued VND80.59 billion.


Upbeat sentiment was maintained through the beginning of the second part of the session, when the VN-Index surged by 4 points in just 10 minutes. Trading value climbed to VND200 billion. Blue-chip stocks propelled the market.


However, the index started to erase its accumulated points suspiciously, as soon as investors became excited.


Ending the trading session, the benchmark, a measure of 253 companies and five mutual funds listed on the city bourse, rose 0.31 percent, or 1.45 points, to 463.12.


Of the index, 147 stocks advanced, 65 declined, while 46 stalled.


Trading volume dropped by 30 percent over the previous session, to around 40 million shares, worth VND1.09 trillion.


Saigon Thuong Tin Commercial Bank or Sacombank (STB), who saw 1.75 million shares change hands today, was the most active stock in volume.


Refrigeration Electrical Engineering Corporation (REE) followed with 1.38 million shares changing hands.


Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) finished next, with 1.31 million shares traded.


Telecommunications Industry Electronics Joint Stock Company (TIE) led the big gainers on the southern market, spring up the daily maximum allowed limit of 5 percent to VND23,100.


My Chau Printing & Packaging Holding Company (MCP) went up 4.96 percent to VND12,700.


Dream House Investment Corporation (DRH) traded at VND17,000, an increase of 4.94 percent over yesterday.


Decliners included Viet Nhat Seafood Corporation (VNH), Binh Duong Mineral and Construction Joint Stock Company (KSB), and Camau Trading Joint Stock Company (CMV).


The smaller bourse in the north also revised after experiencing a choppy trading session, gaining 1.27 points, or percent, to 139.12. More than 31 million shares changed hands at a value of VND781.73 billion.


The UPCoM-Index also added up 0.69 points to 49.28, as of 11 am local time. A total of 288,663 shares were traded at VND4.62 billion.

Source: SGGP

Liquidity falls to one-month low

In Uncategorized on August 6, 2010 at 11:21 am

Movements of VN-Index on August 6. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index declined for the third day in a row August 6, as the stock market did not find necessary support to prevent the index from falling.

The shares of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange finished at 482.82 points, losing 0.7 percent, or 3.39 points.


Of the index, 53 stocks gained, 156 dropped, while 46 treaded water.


Liquidity on the city bourse severely fell to its lowest level in a month, 36.66 million shares, worth VND1.03 trillion.


Vinafco Joint Stock Corporation (VFC) was the most active stock by volume with 1.4 million shares changing hands. The company’s shares traded up 4.49 percent.


From July 26 to 29, Vietnam Investments Funds I.L.P, a major shareholder of VFC, sold 300,000 shares, reducing its holdings to 1,379,016 shares, accounting for 6.9 percent of VFC’s chartered capital.


From August 9 to September 30, Vietnam Investments Funds I, L.P, registered to sell 1 million shares, sending its holdings to 379,016 shares, restructuring investment category.


Transport company Thuan Thao Corporation (GTT), located in the coastal central province of Phu Yen, tagged along with 1.07 million shares.


It was followed by Thanh Cong Textile Garment Investment Trading Joint Stock Company, which closed down 4.95 percent to VND21,100 today, with more than 1 million shares traded.

Movements of VN-Index from August 2 to 6. (Photo: vietstock.vn)

Cadovimex Seafood Import-Export and Processing Joint Stock Company (CAD), which contracted 7.26 percent to VND11,500, was the biggest loser on southern market. The company will issue 800,000 bonus shares to its current shareholders at a ratio of 10:1.


Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PXS) gave up 4.96 percent to VND23,000. The company announced its net profits for the first six months of the year to be VND21.68 billion, which satisfies 64 percent of this year’s goal; the company’s profits for the second quarter reached VND16.83 billion.


Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) and South Vietnam Container Shipping Joint Stock Company (VSG) both edged down 4.84 percent to VND41,300, and VND11,800 respectively.


From August 9 to October 8, Do Hoang Hai, father of Do Le Hong Chau – member of FDC’s Board of Directors, registered to buy 151,000 shares and sell 112,000 shares, sending his holdings to 816,605 shares, restructuring his investment category.


In the same period, Tran Lan Thao Nguyen, daughter of Tran Huu Chinh – chairman of FDC, registered to sell 100,000 shares, and buy 120,000 shares to restructure her investment category. Her holdings will be at 132,145 shares after the transaction.


Hapaco Group Joint Stock Company (HAP) advanced 4.89 percent to VND19,300.


Information and Networking Technology Joint Stock Company (CMT) curbed its eight-consecutive-trading-session losing streak, rising 4.8 percent to VND34,900.


Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) added up 4.7 percent to VND31,200.


Hanoi’s HNX-Index slashed 1.31 points, or 0.89 percent, to close at 146.14. Trading volume dropped to 27.53 million shares, valued at approximately VND738.48 billion.


The UPCoM-Index also dipped 0.83 points to 50.41 as of 11 am local time. A total of 193,910 shares changed hands at VND2.99 billion.

Source: SGGP

High liquidity prevents VN-Index from major slump

In Uncategorized on June 22, 2010 at 8:35 am

Movement of VN-Index on June 22. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index, a measure of 240 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, made a correction on June 22, giving up 0.41 percent, or 2.12 points, to finish at 512.63 points.

Among the index members, 63 gained, 152 fell, while 29 treaded water.


The market enjoyed robust trading as more than 78.3 million shares, worth VND2.11 trillion, were traded.


Saigon Thuong Tin Commercial Bank or Sacombank (STB), which accounted nearly 20 percent of trading volume today, won the position as the most active share in volume with more than 13.7 million shares changing hands, of which two-thirds were bought by foreign investors.


From June 4 to June 15, Amersham Industries Limited, a shareholder of Sacombank, sold 2.5 million shares, sending its holdings to 2,326,487, accounting for 0.35 percent of chartered capital, to restructure its investment category.


PetroVietNam Transportation Corporation (PVT) followed with 5.86 million shares traded, down 1.85 percent to VND15,900.


Refrigeration Electrical Engineering Corporation (REE) came third with 2.58 million shares.


Ca Mau Trading Joint Stock Company (CMV) and Petrolimex Joint Stock Tanker Company (PJT) both added the daily maximum allowed limit of 5 percent, reaching VND37,800 and VND12,600 respectively.


South Vietnam Container Shipping Joint Stock Company (VSG) rose by 4.96 percent to VND12,700, up from VND12,100 yesterday.


Losers on the southern bourse included the newly listed steel producer Dai Thien Loc Corporation (DTL), Post and Telecommunications Investment and Construction Joint Stock Company (PTC) and consumer products producer Son Ha International Corporation (SHI).


The Hanoi’s HNX-Index dropped 2.09 points, or 1.27 percent, to close at 161.92 points. Trading volume remained at a high level with 45.8 million shares (worth VND1.38 trillion) changing hands.


The UPCoM-Index lost 0.47 points, falling to 45.55 points, as of 11:25 am local time. The market of unlisted stocks recorded 97,000 shares traded, worth VND1.6 billion.


US stock markets also finished in the red with the Dow Jones Industrial Average index sliding 0.08 percent to 10,442.41 points. The Nasdaq Composite index plunged 0.9 percent while the S&P 500 index retreated 0.39 percent.


Japan’s Nikkei 225 index lost 1.22 percent. Meanwhile, Hong Kong’s Hang Sheng index edged up 0.08 percent and China’s Shanghai Composite index advanced 0.14 percent.

Source: SGGP

Stocks add little as liquidity drops

In Uncategorized on June 10, 2010 at 11:01 am

Vietnam’s benchmark VN-Index gained on June 10, rising above 500 points. Liquidity on the market, however, fell to four-month low as conflicting information from local and international markets roiled investor confidence.

The shares of 236 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange rose as much as 2.95 points, or 0.59 percent, to finish at 500.51 points. More than 33.4 million shares worth VND949 billion changed hands.


Among the index members, 128 advanced, 57 fell, and 55 remained unchanged.


Tan Tao Investment Industry Corporation (ITA) was the most active stock in volume with 2.43 million shares changing hand up 1.28 percent to VND23,700.


Vietnam Electricity Construction Joint Stock Corporation (VNE) came in next with 1.57 million shares, followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 1.39 million shares.


From June 16 to August 13, Toan Thinh Phat Architecture, Investment and Construction Joint Stock Company, which involves to internal shareholders of Saigon Thuong Tin Commercial Bank (STB), registered to buy 4 million shares, raising its holdings to 5,644,340 shares, accounting 0.84 percent of chartered capital, to increase holding ratio.


Dong Hai Joint Stock Company of Ben Tre (DHC), which produces paper products, jumped the daily maximum allowed limit of 5 percent to VND21,000.


Hoa Binh Rubber Joint Stock Company (HRC) climbed 4.91 percent to VND44,900.


Thong Nhat Rubber Joint Stock Company (TNC) traded at VND17,200, up 4.88 percent from the previous day.


Decliners on the city bourse included Mirae Joint Stock Company (KMR), which processes bedding and other materials for garment and textile industry, Idico Urban and House Development Joint Stock Company (UIC), and Investment Commerce Fisheries Corporation (ICF).


At the smaller bourse in the north, liquidity also dropped. The Hanoi’s HNX-Index surged by 0.45 points to close at 157.06. Around 19.4 million shares were traded at VND593.55 billion.


After net buying for 10 consecutive sessions, foreign investors shifted to net selling this morning, with total value of VND2.12 billion.


The UPCoM-Index slid 0.08 points to 44.66 points. A total of 46,457 shares changed hands at VND673.15 million.

Source: SGGP

VN-Index adds little due to low liquidity

In Uncategorized on March 29, 2010 at 10:36 am

Vietnam’s benchmark VN-Index, which tracks 215 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, gained 0.07 percent on March 29 as investors were pleased with small purchases.

The index finished at 505.67, adding 0.37 points as more than 37.74 million shares, worth VND1.4 trillion changed hands.


Among the index members, 99 advanced, 70 fell, and 50 were flat. Most banking shares, except Viet Nam Joint Stock Commercial Bank for Industry and Trade (CTG), which remained unchanged, saw declines.


The list of gainers was led by RangDong Plastic Joint-Stock Company (RDP), and Telecommunications Industry Electronics Joint Stock Company (TIE). Both added up the maximum daily allowed limit of 5 percent to VND23,100 and VND25,200 respectively.


Sugar maker, Société De Bourbon Tay Ninh (SBT) followed with an increase of 4.96 percent to VND12,700.


Saigon Security Inc. (SSI) was the most active stock in volume as more than 2.37 million shares were traded at VND45,000. The country’s largest brokerage closed down 2.81 percent.


Saigon Commercial Bank, or Sacombank (STB), which gave up 0.45 percent, came next with 1.97 million shares being traded at VND22,100.


Hanoi-based Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) was next with 1.18 million shares as it closed at VND41,400, up 4.81 percent.


DESCON Construction Corporation (DCC), which lost the 5 percent maximum daily limit to VND24,700, was the biggest loser. Next were two companies located in Dong Nai Province, Cuongthuan Investment Corporation (CTI), which eroded 4.96 percent to VND23,000, and Tien Len Steel Corporation Joint – Stock Company (TLH), which gave up 4.84 percent to VND29,500.


Hanoi’s HNX-Index dropped 0.01 percent, or 0.01 points, to close at 163.75. Trading volume on the bourse reached 26.1 million shares, worth VND867.8 billion.


The UPCoM-Index climbed 3.5 percent, or 1.54 points, to finish at 45.56 points. A total of 175,150 shares traded at VND2.7 billion.

Source: SGGP

USD120 billion to remove obstacles on payment balance and short-term liquidity difficulties

In Uncategorized on March 25, 2010 at 3:35 pm




USD120 billion to remove obstacles on payment balance and short-term liquidity difficulties


QĐND – Thursday, March 25, 2010, 21:16 (GMT+7)

The State Bank of Vietnam (SBV) on March 24th reported that Finance Ministers and Central Bank Governors of the ASEAN Member States, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China announced the Chiang Mai Initiative Multilateralization (CMIM) Agreement came into effect on March 24th, 2010.


The CMIM, worth USD120 billion, will remove obstacles on payment balance and short-term liquidity difficulties in the region and supplement the existing international financial arrangements. Specifically, the CMIC will provide financial assistance through currency swap transactions among CMIM participants.


Each CMIM participant, in accordance with the procedures and conditions set out in the Agreement, is to swap its local currency with US Dollars for an amount up to its contribution multiplied by its purchasing multiplier.


The CMIM is a multilateral currency swap contract among ASEAN+3 members and is developed from the current CMI bilateral swap network. It aims to offer favorable conditions to carry out prompt and simultaneous currency swap transactions through setting up a common decision making mechanism under the framework of a single contract.

Source: CPV

Source: QDND

VN-Index surpasses 500 as liquidity improves

In Uncategorized on March 24, 2010 at 6:25 am

Vietnam’s VN-Index, a measure of 208 companies and four mutual funds on the Ho Chi Minh Stock Exchange, rose by 1.68 percent on February 4 as investors’ confidence rose, backed by a rally on Asia’s stock markets.

The benchmark added 8.35 points to finish at 503.83. Of the index, 151 stocks gained, 20 declined, and 41 were unchanged. The total trading volume was at more than 36.9 million shares, worth more than VND1.8 trillion.


The leading gainer was seafood producer Godaco Seafood Joint Stock Company (AGD), which rose by the maximum allowed 5 percent to VND27,300. Sai Gon Garment Manufacturing Trade Joint Stock Company (GMC) followed with an increase of 4.94 percent to VND25,500.


Refrigeration Electrical Engineering Corporation (REE) was the most active share in volume with more than 1.66 million shares. The electronics maker surged by 4.81 percent to VND45,800.


It was followed by Saigon Securities Inc. (SSI), which saw 1.5 million shares traded. Vietnam’s largest brokerage added 3.57 percent to close at VND87,000.


At the smaller bourse in Hanoi, the HaSTC-Index closed higher at 2.77, or 1.71 percent, at 164.69.


One hundred eighty-two shares rose, 47 fell, and 23 remained unchanged. More than 16.88 million shares were traded, worth VND552.4 billion.


The UPCoM-Index fell slightly by 0.01 points, to 52.23. A total of 35,810 shares worth VND401.97 million were traded.





Source: SGGP Bookmark & Share