Category: Construction

After yesterday’s sharp plunge, this morning (June 16), indices have bounced back impressively although liquidity has somewhat cooled down compared to previous sessions. Vingroup’s “they” shares rose sharply.

Specifically, VN-Index increased by 18.34 points, or 2.2%, to 850.81 points; HNX-Index increased by 1.3 points or 1.14% to 115.12 points; UPCoM-Index also increased 0.39 points or 0.7% to 55.92 points. Liquidity on the HSX reached 250.06 million shares, equivalent to 3,398.43 billion dong and reached 37.41 million shares, equivalent to 361.52 billion dong on the HNX. This number on UPCoM is 12.55 million shares, equivalent to VND 123.45 billion. The picture of the market changed color and completely contrasted with yesterday’s session. The green color dominated with 416 gainers, 39 gainers to the limit compared to 208 decliners and 36 floor-downers on all 3 exchanges. In the VN30 basket, only 3 stocks decreased, the remaining 27 stocks increased, so the VN30-Index also increased by 15.92 points, or 2.04%, to 794.63 points. In which, the pillar codes all recovered strongly. VHM increased by 4,000 VND to 74,000 VND/share; VNM increased by 4,000 dong to 116,000 dong, VIC increased by 3,100 dong to 92,100 dong; SAB increased 3,000 dong to 169,000 dong, VCB increased 1,000 dong to 83,000 dong. A variety of other large codes such as VRE, MWG, PLX, BVH, BID, GAS…. All prices increased sharply.

If in the previous session, Vingroup’s stock was one of the main factors that “swallowed” the market, this morning, this group was the “goddess” to pull the index to recover. VHM contributed 3.82 points and VIC contributed 2.99 points. VRE also brought back 0.96 points for VN-Index. In the opposite direction, Tan Tao’s ITA continued to be profit-taking and fell to the price of 5,760 dong/share. VJC, EIB, HBC, DPR decreased. On the international market, US stocks also recovered after the worst trading week since March. In which, the Dow Jones index rose 157.62 points, or 0.6%, to 25,763.16 points; The S&P 500 rose 0.8% to 3,066.59 and the Nasdaq Composite added 1.4% to 9,726.02 points. US markets rebounded on news that the Fed will buy individual corporate bonds, marking broader access to the secondary market and indicating the agency will continue to support credit markets. Regarding the prospect of today’s trading session, except for VDSC, most securities companies made cautious comments. According to VDSC, currently the market’s main indexes have all reached important support areas. Therefore, investors can disburse slightly into stocks with deep declines to explore the market at this time. Meanwhile, Mirae Asset Vietnam Securities Company said that yesterday’s strong selling session showed that the short-term downtrend is still maintained with the nearest support level around 820 points. The short-term technical score according to the Mirae Asset system continues to remain negative as most of the indicators are showing pessimistic signals.

After the transaction of foreign partner KKR, Vingroup continues to be the controlling shareholder of Vinhomes.

As reported, in yesterday’s trading session (June 15), foreign investors bought nearly 201.7 million VHM shares and sold only nearly 720 thousand of these shares. The deal value reached over VND 15,000 billion. It can be affirmed that the above-mentioned “huge” deal of shares is sold by domestic investors and the buyer is a foreign investor. The identity of the buyer and seller is unknown.

As of today (June 16), the market has partly answered this remarkable transaction. In a statement released by Vingroup today, the group said that a group of investors led by KKR, including Temasek, has completed a transaction to acquire an investment in Vinhomes. Accordingly, the KKR investor group has invested a total of 15.1 trillion VND (equivalent to 650 million USD), equivalent to about 6% of Vinhomes shares. “After the transaction, Vingroup – JSC will continue to be a controlling shareholder of Vinhomes. KKR invests mainly from Asia Fund III,” said Vingroup’s statement. According to Vingroup, this event shows that Vietnam is still a prominent bright spot in the regional capital market thanks to its development prospects and strong growth rate; At the same time, it also proves the attractiveness of Vinhomes with its project implementation capacity, large land bank… Credit Suisse (Singapore) Limited is Vingroup’s financial consultant in this deal. KKR is a leading global investment company, with a diverse portfolio of investments, including private equity, energy, infrastructure, real estate, and credit, with partners’ hedge fund management strategy. KKR invests its accumulated capital in addition to managed capital, providing financial solutions and investment opportunities through its capital markets business. Temasek is an investment company with a portfolio of S$313 billion ($231 billion) as of March 31, 2019. On the stock market, after a series of 5 consecutive declines and a loss of 6.7% yesterday, by today’s session June 16, Vinhomes’ shares rose to the ceiling strongly, up 7% to 74,900 dong.