VN-Index could exceed 1,400 points this year: report

Vietnam’s benchmark VN-Index could peak at 1,435 points this year with a surging number of new investors amid prospects of economic recovery, a brokerage forecasts.

Vietnam, stock, VN-Index, 1400 points, VCBS, report

The figure is set to increase by up to 20-30 percent from the end of last year to be in the 1,325–1,435 range, Vietcombank Securities VCBS reported.

Analysts based their projections on the recovery of the economy post-Covid-19 with GDP growth expected to hit 6.8–7 percent this year, compared to 2.9 percent last year.

The country has seen surging growth in trade figures despite rising logistics costs, while domestic consumption is expected to recover and exceed last year’s figures, they said, adding increased public investment on infrastructure will further drive economic recovery.

Vietnam’s stock market is booming with the benchmark VN-Index repeatedly hitting new historic peaks this year, closing on an unprecedented 1,252 points Monday as trading value surged to the year’s highest.

The bull market is said to be led by new domestic investors' money even as foreigners net sold over VND14.17 trillion ($615 million) on the Ho Chi Minh Stock Exchange and Hanoi Stock Exchange in the first quarter.

A total 113,875 new trading accounts were opened in March, the highest monthly figure ever, bringing the total number to 3.02 million, equivalent to 2.8 percent of Vietnam's population.

VCBS considers the sector of basic construction materials manufacturing to have high growth prospects thanks to the government’s expected increase in public spending on infrastructure.

Port and logistics tickers are set to benefit from rising demand for transporting goods as companies move their supply chains to Vietnam, it added.

News Related

OTHER NEWS

Reference exchange rates up 10 VND

The daily reference exchange rate set at 23,170 VND per USD on May 18. (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate at 23,170 VND… Read more »

TECNO TAIVOS™ Lab: How can signal processing and AI Imaging build the ultimate selfie

HONG KONG SAR – Media OutReach – 18 May 2021 – TECNO, a rising global smartphone brand, is taking huge steps forward with its cutting-edge innovations in AI-enhanced photography through its TECNO TAIVOS™ Lab. Set… Read more »

Firms warned of difficulties amid Indian Covid-19 outbreak

The Ministry of Industry and Trade has warned local companies of challenges when doing business with Indian partners during the South Asian country’s Covid-19 outbreak. According to the ministry’s Asian Market Department, Covid-19… Read more »

WB Most of Vietnam s economic indicators in April good

Vietnam’s industrial production continued its strong growth momentum in April, increasing by 1.1% compared to March, 24.1% higher than the same period in 2020. Modern Diplomacy: Vietnam well poised to meet challenges of… Read more »

Auto sales signal recovery with 58 pct surge

This sales figure marked an increase of over 3,600 units from the same period last year when the first wave of Covid-19 had hit the country, according to the Vietnam Automobile Manufacturers Association… Read more »

Banks dominate Vietnam’s profit makers list

Topping the list are two stated-owned lenders Vietcombank and VietinBank. The former recorded VND8.6 trillion ($373.9 million) in pre-tax profits, up 65 percent year-on-year, while the latter posted VND8 trillion, up 171 percent.… Read more »

Share issuance value surges as businesses expand

As of April 13, 54 listed companies have announced plans to issue more shares this year to raise nearly VND44.7 trillion ($1.94 billion), according to financial data provider FiinGroup. In the first quarter,… Read more »

Vietnam largest gold market in Southeast Asia: study

Last year consumer demand in Vietnam was 39.8 tons, higher than Indonesia’s 37.6 tons and Singapore’s 9.4 tons, according to the World Gold Council (WGC). Gold is the top asset class for 68… Read more »

Record new business registrations signal recovery

The figure was up 17.5 percent year-on-year, said the Agency for Business Registration, adding that it was a “very positive signal” after registrations in the same period last year fell 13.2 percent due… Read more »

Startups see investment rise by 34 pct

But the number of deals continued to fall, almost halving from 2019 to 16, according to a report by South Korean venture fund Nextrans. Foreign investors outperformed their local counterparts with nine deals,… Read more »

Companies struggle to hire e-commerce staff: report

Twenty three percent of companies had employees exclusively for e-commerce work last year, compared to 30 percent three years earlier, according to the 2021 Vietnam E-Business Index report by the Vietnam E-commerce Association… Read more »

Auto sales make recovery in Q1

Passenger vehicles and commercial vehicles were up 34 percent and 43 percent, according to the Vietnam Automobile Manufacturers Association (VAMA). Truong Hai Auto Corporation, or Thaco, which assembles several brands of cars and… Read more »

New securities trading accounts reach record high

The figure broke the record of 86,017 set in January, according to the Vietnam Securities Depository (VSD). The stock market saw nearly 258,000 new trading accounts opened in the first quarter, accounting for… Read more »

IMF sees Vietnam economy growing at 6.5 pct

It is the second highest rate forecast by the International Monetary Fund for ASEAN-5 countries. The Philippines tops with 6.9 percent, Malaysia ties Vietnam at 6.5 percent, Indonesia is expected to grow at… Read more »

Industrial land rents shoot up on rising demand, stagnant supply

In the north, average rents rose by 15.1 percent to $76 per square meter in Hai Duong Province, 13.1 percent to $129 in Hanoi, and 9.2 percent to $95 in Bac Ninh Province,… Read more »

First quarter credit growth doubles

First quarter credit growth hit 1.47 percent, double that of the six-year low of 0.68 percent in the same period last year when the first novel coronavirus outbreak hit Vietnam, according to the… Read more »

Rice price surges 18 pct

Total volume fell 29.4 percent to over 656,000 tons, according to Vietnam Customs. The Philippines remained the largest importer but with volume down 28 percent year-on-year to 256,000 tons. Other markets that saw… Read more »

Environmental admin procedure costs surge 39 pct

The procedures took 61.5 hours to complete, up three times the previous year; and most businesses had to hire other companies to handle all their environmental procedures, according to the Administrative Procedures Compliance… Read more »

Vietnam dominates list of top Southeast Asian e-commerce sites

Thegioididong, the e-commerce website run by retail giant Mobile World, ranked fifth with average web visits in 2020 reaching 28.6 million a month, according to a report released by Malaysia-based market research firm… Read more »

Nearly half of Vietnamese fear job losses due to automation

Most respondents, 83 percent, think technology would change their jobs in the next 3-5 years, and 90 percent think that would happen in the next 6-10 years, the survey by global accounting giant… Read more »

Auto sales up 21 pct in 2021

Passenger vehicles dominated sales at 71 percent, according to the Vietnam Automobile Manufacturers Association. Local company Truong Hai Auto (Thaco) led the market with 14,964 units representing a 39 percent year-on-year increase. It… Read more »

Vietnam third in women's senior management presence

Vietnam’s proportion of women in senior management positions is behind the Philippines (48 percent) and South Africa (43 percent), according to a recent report released by Grant Thornton International. Vietnam’s ratio in this… Read more »

Vietnam women's e-commerce leadership ratio second highest in Southeast Asia

The survey has been conducted in Hong Kong and six Southeast Asia countries by market research company iPrice Group. This figure was lower than that of Hong Kong (55 percent) but higher than… Read more »

Just one-third of workers okay with benefits: survey

The report by recruitment firm Navigos is based on a survey that polled nearly 6,000 participants in its database, most of them in Ho Chi Minh City and Hanoi. It found 45 percent… Read more »

Vietnam cryptocurrency use second highest in the world

The report on survey results released by Statista, a global provider of market and consumer data, says 21 percent of respondents in Vietnam said that they used or owned cryptocurrency in 2020, second… Read more »

Corporate bond market to remain vibrant this year

The low deposit rates, currently at around 5-5.5 percent a year compared to 7 percent early last year, is likely to make bonds more attractive to investors with their coupon rates of 8-12… Read more »

Securities trading account numbers surge to new peak

At nearly 4,000 accounts a day, the number jumped by 36 percent from December, previously the best month in the country’s 20-year stock market history, according to data from the Vietnam Securities Depository.… Read more »

Top 10 banking profit list sees places change

Vietcombank, the biggest lender by market cap, did not see its profits increase, but with VND23 trillion ($995 million) it remained on top of the list, a position it has held for the… Read more »

Yeah1 suffers another year of loss

Amid the Covid-19 pandemic the company, one of the largest digital media ecosystems in Vietnam, decided to set up a new multi-channel trading platform, Giga1, which seeks to cut out intermediaries and deliver… Read more »

Vietnamese most optimistic in Southeast Asia about Covid-19 challenges: survey

Vietnam ranked highest in the optimism index compiled by Singapore’s United Overseas Bank with a score of 62.4 out of 100, well ahead of Malaysia (53.8), Singapore (52.7), Thailand (52.0), and Indonesia (49.6).… Read more »

January exports up 50 pct

The U.S. was the largest market, followed by China, the E.U., ASEAN, Japan, and South Korea, according to the General Statistics Office. Six products saw exports exceed $1 billion, including smartphones (up nearly… Read more »

Stock brokerages' earnings jump as surging markets attract record investor numbers

Top brokerage SSI Securities Corporation’s pre-tax profit rose by 54.4 percent to VND1.56 trillion ($67.7 million), as revenues increased by 43.4 percent to VND4.5 trillion. The Saigon – Hanoi Securities Jsc said pre-tax… Read more »

December auto sales hit monthly high

It represented a 32 percent rise from November and 45 percent increase from the same period in 2019. The data shows 36,856 units sold in December were passenger cars, up 28 percent over… Read more »

December auto sales hit record for 2020

It represented a 32 percent rise from November and 45 percent increase from the same period last year. The data shows 36,856 units sold in December were passenger cars, up 28 percent over… Read more »

Agribank profit drops due to pandemic

The bank had to reduce its profit target by VND5.5 trillion after lowering interest rates for customers affected by the Covid-19 pandemic, its management said at a meeting on Tuesday. Credit growth was… Read more »

New stock trading accounts set historic monthly record

In 2020, nearly 393,659 new domestic accounts were opened, up 109 percent year-on-year, the highest ever figure recorded in the country to date, according to the Vietnam Securities Depository (VSD). This took the… Read more »

Vietnam growth to hit decades high 8.6 pct: Fitch Solutions

The firm revised the growth rate, the highest in 24 years according to World Bank’s data, from the earlier 8.2 percent, expecting a global vaccine rollout to drive recovery in external demand for… Read more »

Apple leads in Vietnam smartphone awareness survey

Samsung is second with 36 percent, followed by Oppo (9 percent) and Nokia (2 percent), according to a survey of nearly 600 respondents conducted by Ho Chi Minh City-based market research firm Q&Me.… Read more »

Vietnam among world’s fastest growing economies in 2020

The country will be one of only three nations in Asia that will post positive growth this year, the others being China and Myanmar, according to a World Bank report. Other economies will… Read more »

November auto sales achieve year record

The figure exceeded that of last year by 22 percent, making November the third month to record year-on-year growth in 2020 after February and October as Covid-19 caused sales to slump in other… Read more »

Headwinds buffet Vietnamese carriers through 2020

The number of flights the country’s five commercial airlines operated fell 36 percent year-on-year in the first 11 months to 196,600, according to the Civil Aviation Authority of Vietnam (CAAV). They carried 29.4… Read more »

Auto sales down 25 pct

Passenger cars accounted for 109,694 units, followed by commercial vehicles and special-purpose vehicles, according to the Vietnam Automobile Manufacturers Association (VAMA). Sales in August, when Vietnam saw a fresh eruption of Covid-19 linked… Read more »

HCMC new housing supply continues to fall

A report by the Ho Chi Minh City Real Estate Association (HoREA) says 23,046 housing units entered the market last year, down 18.6 percent from 2018. This was a drop of 46.4 percent… Read more »

Vietnam currency to remain stable throughout the year

The reference rate set by the State Bank of Vietnam (SBV) has remained mostly stable this year and was at VND23,205 Tuesday. Rates at commercial banks for the last two months have also… Read more »

Covid-19 gives Vietnam e-commerce sector a boost

People are still spending money on shopping, a good sign given the fears that demand would fall during the Covid-19 pandemic, the report, ‘Vietnam E-commerce Map’, by market research firm iPrice Group and… Read more »

Listed companies’ profit slump slows

The improved figures were mostly due to non-operating income, which doubled and accounted for 20 percent of the profits of non-banking companies, according to a report by financial data provider FiinGroup. This income… Read more »

Trade surplus rises to new high

Imports fell by 2.2 percent to $162.2 billion while exports rose by 1.6 percent to $174.1 billion, according to the General Statistics Office. Exports of five items exceeded $10 billion each: smartphones, electronics-computers,… Read more »

Trade surplus rises to new high

Imports fell by 2.2 percent to $162.2 billion while exports rose by 1.6 percent to $174.1 billion, according to the General Statistics Office. Exports of five items exceeded $10 billion each: smartphones, electronics-computers,… Read more »

KFC most favored fast food chain in Vietnam: survey

It is followed by South Korea’s Lotteria with 17 percent of 600 respondents, and American restaurant chains Pizza Hut and McDonald’s both at 6 percent, according to the survey by HCMC-based market research… Read more »

Vietnam casinos enjoy double-digit revenue growth

These eight establishments were licensed before March 2017, when the government began a trial project allowing Vietnamese to gamble in local casinos, according to a recent report by the Ministry of Finance. Earlier,… Read more »