MAR­KETS Shares end week on a pos­i­tive note

Viet Nam News - - FRONT PAGE -

HAØ NOÄI — Shares ended Fri­day up thanks to bot­tom pur­chas­ing in­creas­ing to­ward the end of trad­ing ses­sion as sell­ing pres­sure less­ened.

The benchmark VN-In­dex on the Ho Chi Minh Stock Ex­change edged up 0.39 per cent to close at 958.59 points yesterday.

It was down 0.24 per cent at 954.82 points on Thurs­day.

The mi­nor HNX-In­dex on the Ha Noi Stock Ex­change lost 0.03 per cent on Fri­day to close at 107.14 points.

It fell 0.60 per cent to 107.10 points on Thurs­day.

Large-cap stocks con­tin­ued driv­ing the mar­ket, lift­ing the blue-chip VN30 In­dex by 0.73 per cent to 929.59 points.

Across the stock mar­ket, banks, prop­erty de­vel­op­ers, se­cu­ri­ties firms and con­struc­tion com­pa­nies were among the best per­form­ing groups.

More than 230 mil­lion shares were traded on the two lo­cal ex­changes, worth VNÑ4.9 tril­lion (US$208 mil­lion).

Blue-chip stocks such as real es­tate firm Vin­homes (VHM), Vin­com Re­tail (VRE), bud­get car­rier Vi­et­jet (VJC) and brewer Sabeco (SAB) all gained ground, boost­ing the mar­ket.

Stock mar­kets around the world sank on Thurs­day as the ar­rest of a top Chi­nese tech­nol­ogy ex­ec­u­tive threat­ened to strain an al­ready brit­tle US-China trade re­la­tion­ship, while oil prices fell af­ter OPEC de­layed an out­put de­ci­sion, re­ported.

The ar­rest of smart­phone maker Huawei Tech­nolo­gies Co Ltd Chief Fi­nan­cial Of­fi­cer Meng Wanzhou in Canada for ex­tra­di­tion to the US came as Wash­ing­ton and Bei­jing pre­pared for talks aimed at re­solv­ing a bit­ter trade spat.

Oil prices fell nearly 3 per cent in choppy trad­ing af­ter the Or­gan­i­sa­tion of the Petroleum Ex­port­ing Coun­tries ended a meet­ing with­out mak­ing a de­ci­sion on crude out­put.

US crude set­tled down 2.65 per cent at $51.49 per bar­rel and Brent was last at $60.06, down 2.44 per cent on the day.

PV Oil (OIL) has pro­posed a plan for large-scale state cap­i­tal di­vest­ment. Ac­cord­ing to the eq­ui­ti­sa­tion plan ap­proved by the Prime Minister, PVN will own 35.1 per cent of OIL’s char­ter cap­i­tal, 20 per cent of char­ter cap­i­tal at pub­lic auc­tion and sell 44.72 per cent of char­ter cap­i­tal to strate­gic in­vestors.

OIL has of­fered to sell 20 per cent of its char­ter cap­i­tal as pre­scribed in the IPO. How­ever, the com­pany has yet to sell a 45 per cent stake to strate­gic share­hold­ers.

Ac­cord­ing to Baûo Vieät Se­cu­ri­ties Com­pany (BVSC), a num­ber of in­vestors were in­ter­ested in be­com­ing strate­gic share­hold­ers of OIL such as Vi­et­jet, HD Bank, SK En­ergy (South Korea) and Idemitsu (Ja­pan). Nev­er­the­less, due to a lack of time for the di­vest­ment pro­ce­dures, OIL has failed to ful­fill the State’s re­quire­ment of com­plet­ing within 4 months.

OIL representatives stated that the com­pany had drawn up a plan and re­ported largescale di­vest­ment in­stead to PVN. On the Un­listed Pub­lic Com­pany Mar­ket (UPCoM), OIL shares had in­creased for five con­sec­u­tive ses­sions to VNÑ15,400 per share.

The re­cent suc­cess­ful auc­tion of Vieät Nam Con­struc­tion And Im­port-Ex­port Joint Stock Cor­po­ra­tion (VCG) has proved that large-scale di­vest­ment is ap­peal­ing to strate­gic in­vestors. — VNS

Fri­day, De­cem­ber 07

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