Stock brokers work on the Hanoi Stock Trading Centre (Photo: VNA) Hanoi (VNS/VNA) - Shares advanced further on both local exchanges on November 13 asinvestors eagerly anticipated some companies’ sale of more shares to reduce theState’s capital holdings, and by the impacts of the APEC event last week.
Thebenchmark VN Index gained 1.28 percent to close at 879.34 points. It hasincreased by a total of 5.5 percent in the last seven sessions.
Onthe Hanoi Stock Exchange, the HNX Index added 0.39 percent to end at 106.79points, extending its growth for a fourth session with a total gain of 1.9percent.
Morethan 283.7 million shares were traded on the southern bourse, worth 13.4trillion VND (597.3 million USD), while the northern market traded more than59.2 million shares, worth 725.3 billion VND.
Markettrading condition was negative as losing stocks outnumbered gaining ones by 284to 184 on both local exchanges.
Thefigures posted an increase of 47 percent in trading volume and nearly 58percent in trading value compared to the average numbers of last week.
Thesharp rise of trading liquidity on November 13 was attributed to foreigntrading of dairy producer Vinamilk (VNM) shares.
VNMshares rose by 6.2 percent and have risen a total of 17 percent after the lastfour sessions.
Morethan 40.5 million shares of Vinamilk were traded November 13 via bothput-through and order-matching methods, including more than 36 million sharespurchased by foreign investors via put-through transactions.
Foreigninvestors posted a net buy value of more than 286 billion VND, a decrease of81.8 percent in value compared to November 10.
Vinamilkis among five listed companies in which the State Capital InvestmentCorporation (SCIC) plans to offload the State’s ownership in 2017.
Thefour others are Vietnam Construction & Import-Export Corporation (VCG), TienPhong Plastic Co (NTP), Binh Minh Plastic Co (BMP) and IT group FPT Corp (FPT).
VCGsurged 8.3 percent, NTP and BMP soared 10 percent and 6.9 percent,respectively, hitting their daily increase limits, and FPT jumped 3.4 percent.
Amongthe four firms, SCIC will organise a roadshow on November 16 to introduce VCGto potential investors in an attempt to sell 96.25 million shares or 21.8percent of the company capital.
Investorconfidence also improved after Vietnamese companies signed a total of 12billion USD worth of contracts with US companies during the week-long APECevent.
Truckdealer Hoang Huy Investment Financial Services Co (TCH) on Sunday signed a 1.8billion USD agreement with the US-based Navistar International Corporation toimport 100,000 trucks between 2018 and 2027. The company shares hit their dailyincrease limit of 6.9 percent.
Accordingto Bảo Việt Securities Company (BVSC), though the stock market showed strengthon Monday with the rise of trading liquidity—which would support the marketgrowth in the short term—losing stocks still dominated the market.
Itproved investors were becoming more cautious and they tried to sell off thestocks to earn profits, on worries that the VN Index will retreat when it hitsthe level of 880 points, BVSC said in its daily report.
Ifthe benchmark index starts falling, it is expected to bounce back again when itreaches the range of 850-855 points, the company said.
Newforeign shareholder acquires Vinamilk shares from SCIC
TheSingapore-based automotive group Jardine Cycle and Carriage has acquired a 5.53percent stake in Vietnam’s largest dairy producer Vinamilk through itswholly-owned unit Platinum Victory for 616.6 million USD in cash, the companysaid on November 13.
TheSingaporean firm bought Vinamilk’s shares from Vietnam’s State CapitalInvestment Corporation (SCIC), which represents the Vietnamese Government tomanage the State’s capital in the local companies.
SCIChad previously sold off all of its 48.33 million shares, or a 3.33 percentstake in Vinamilk, via an auction on the HCM Stock Exchange on November 10 for396 million USD, higher than expected.
Vinamilk’sshares were transferred at 186,000 VND each, 24 percent higher than the initialasking price and 7 percent higher than the price at closing time on November 10trading session.
Afterthe latest deal, SCIC remains the largest shareholder in Vinamilk with 36percent ownership and retains its senior voting right in the company. TheState-run firm is followed by Jardine Cycle and Carriage (5.5 percentownership) and another Singaporean firm, Fraser & Neave (5.4 percent).
Fraser& Neave, a subsidiary of Thai conglomerate TCC, purchased 5.4 percent ofVinamilk shares from SCIC in December 2016. The sale came in under the expected9 percent the government originally planned to sell.
JC&C,a subsidiary of Hong Kong-based conglomerate, has marked its presence inVietnam for decades, with a 25 percent stake in Truong Hai Automobile JointStock Company (Thaco), the largest car manufacturer in Vietnam, and 23 percentin Hochiminh Stock Exchange-listed REE Corp (REE).
Thelatest deal increases Jardine Cycle & Carriage (JC&C)’s exposure to theVietnamese economy, and it remained open to making further such investments,the company added.
“Thetaking of this interest in Vinamilk is in line with the JC&C group’sstrategy of investing in market leading companies in Southeast Asia. Inparticular, it increases JC&C’s exposure to the Vietnam economy,” it saidin the statement.
Otherlarger shareholders include Dragon Capital, VinaCapital, Matthews Asia, andArisaig Partners.-VNA
Thebenchmark VN Index gained 1.28 percent to close at 879.34 points. It hasincreased by a total of 5.5 percent in the last seven sessions.
Onthe Hanoi Stock Exchange, the HNX Index added 0.39 percent to end at 106.79points, extending its growth for a fourth session with a total gain of 1.9percent.
Morethan 283.7 million shares were traded on the southern bourse, worth 13.4trillion VND (597.3 million USD), while the northern market traded more than59.2 million shares, worth 725.3 billion VND.
Markettrading condition was negative as losing stocks outnumbered gaining ones by 284to 184 on both local exchanges.
Thefigures posted an increase of 47 percent in trading volume and nearly 58percent in trading value compared to the average numbers of last week.
Thesharp rise of trading liquidity on November 13 was attributed to foreigntrading of dairy producer Vinamilk (VNM) shares.
VNMshares rose by 6.2 percent and have risen a total of 17 percent after the lastfour sessions.
Morethan 40.5 million shares of Vinamilk were traded November 13 via bothput-through and order-matching methods, including more than 36 million sharespurchased by foreign investors via put-through transactions.
Foreigninvestors posted a net buy value of more than 286 billion VND, a decrease of81.8 percent in value compared to November 10.
Vinamilkis among five listed companies in which the State Capital InvestmentCorporation (SCIC) plans to offload the State’s ownership in 2017.
Thefour others are Vietnam Construction & Import-Export Corporation (VCG), TienPhong Plastic Co (NTP), Binh Minh Plastic Co (BMP) and IT group FPT Corp (FPT).
VCGsurged 8.3 percent, NTP and BMP soared 10 percent and 6.9 percent,respectively, hitting their daily increase limits, and FPT jumped 3.4 percent.
Amongthe four firms, SCIC will organise a roadshow on November 16 to introduce VCGto potential investors in an attempt to sell 96.25 million shares or 21.8percent of the company capital.
Investorconfidence also improved after Vietnamese companies signed a total of 12billion USD worth of contracts with US companies during the week-long APECevent.
Truckdealer Hoang Huy Investment Financial Services Co (TCH) on Sunday signed a 1.8billion USD agreement with the US-based Navistar International Corporation toimport 100,000 trucks between 2018 and 2027. The company shares hit their dailyincrease limit of 6.9 percent.
Accordingto Bảo Việt Securities Company (BVSC), though the stock market showed strengthon Monday with the rise of trading liquidity—which would support the marketgrowth in the short term—losing stocks still dominated the market.
Itproved investors were becoming more cautious and they tried to sell off thestocks to earn profits, on worries that the VN Index will retreat when it hitsthe level of 880 points, BVSC said in its daily report.
Ifthe benchmark index starts falling, it is expected to bounce back again when itreaches the range of 850-855 points, the company said.
Newforeign shareholder acquires Vinamilk shares from SCIC
TheSingapore-based automotive group Jardine Cycle and Carriage has acquired a 5.53percent stake in Vietnam’s largest dairy producer Vinamilk through itswholly-owned unit Platinum Victory for 616.6 million USD in cash, the companysaid on November 13.
TheSingaporean firm bought Vinamilk’s shares from Vietnam’s State CapitalInvestment Corporation (SCIC), which represents the Vietnamese Government tomanage the State’s capital in the local companies.
SCIChad previously sold off all of its 48.33 million shares, or a 3.33 percentstake in Vinamilk, via an auction on the HCM Stock Exchange on November 10 for396 million USD, higher than expected.
Vinamilk’sshares were transferred at 186,000 VND each, 24 percent higher than the initialasking price and 7 percent higher than the price at closing time on November 10trading session.
Afterthe latest deal, SCIC remains the largest shareholder in Vinamilk with 36percent ownership and retains its senior voting right in the company. TheState-run firm is followed by Jardine Cycle and Carriage (5.5 percentownership) and another Singaporean firm, Fraser & Neave (5.4 percent).
Fraser& Neave, a subsidiary of Thai conglomerate TCC, purchased 5.4 percent ofVinamilk shares from SCIC in December 2016. The sale came in under the expected9 percent the government originally planned to sell.
JC&C,a subsidiary of Hong Kong-based conglomerate, has marked its presence inVietnam for decades, with a 25 percent stake in Truong Hai Automobile JointStock Company (Thaco), the largest car manufacturer in Vietnam, and 23 percentin Hochiminh Stock Exchange-listed REE Corp (REE).
Thelatest deal increases Jardine Cycle & Carriage (JC&C)’s exposure to theVietnamese economy, and it remained open to making further such investments,the company added.
“Thetaking of this interest in Vinamilk is in line with the JC&C group’sstrategy of investing in market leading companies in Southeast Asia. Inparticular, it increases JC&C’s exposure to the Vietnam economy,” it saidin the statement.
Otherlarger shareholders include Dragon Capital, VinaCapital, Matthews Asia, andArisaig Partners.-VNA
VNA
