VN stocks progress on GDP forecast
Tuesday, March 20,2018AsemconnectVietnam - Vietnamese shares advanced further on Monday on high investor confidence and good performance of real estate stocks, however, growth rates were slowed down as profit-taking hit bank stocks following their recent gains.
The minor HNX Index on the Ha Noi Stock Exchange gained 0.75 per cent to close at 134.10 points, recording an eight-day rally of total 6.7 per cent.
The VN-Index peaked at 1,165.63 points and the HNX Index touched the highest level of the day at 134.41 points.
Upbeat investor sentiment came from a positive first-quarter gross domestic product (GDP), which is forecast at 6.3 per cent by the National Centre for Socio-Economic Information and Forecast (NCIF), Bao Viet Securities Company (BVSC) said in its daily report.
According to NCIF, the GDP growth was attributed to strong increases in construction, processing, tourism and service industries, making this year’s total GDP growth rate at 6.83 per cent, beating the full-year forecast of 6.7 per cent and equivalent to last year’s figure.
“With the upbeat economic data in the first quarter, this estimation is feasible and could strongly support the stock market’s uptrend,” BVSC said.
The positive confidence helped boost large-cap stocks, consolidating increased momentum for the market, BSC said, adding that “active trading of real estate, securities and petroleum stocks helped the VN-Index close at a historical peak of 1,170 points.”
Those property developers jumped at least 4.7 per cent.
On the opposite side, bank stocks were hit by strong selling after they led the benchmark index to surpass the peak of 1,130 points last week.
“The decline of bank stocks today, after the strong rally, increased the risk of the overall market’s downtrend. However, this correction is short-lived as major indices are supporting the market’s uptrend,” BVSC said.
Aquatic product exports expected to recover from late Q3
Reference exchange rate down 10 VND
Seafood exports decreased by 27.3% in first 6 months of 2023
Exports of wood and wood products reached nearly 6.06 billion USD in 6 months of 2023
Retail stocks on track to rebound
Vietnamese agricultural sector urged to overhaul logistics for improved export potential
Export shows sign of gradual recovery: Statistics office
Reference exchange rate up 13 VND
Domestic retailers on path to recovery
Textile and garment exports fell in first 6 months of 2023
Exports to UK reached more than 2.8 billion USD in first 6 months of 2023
DAILY: Vietnamese pepper prices remained unchanged on July 17
DAILY: Vietnamese coffee prices remained unchanged on July 17
Reference exchange rate down 19 VND at week’s beginning
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...