Vietnam: Shares to climb on positive Q1 earning results; only 12 Covid-19 imported cases reported


FPT Corporation's software programmers. FPT rose 2.9 per cent last week. The Vietnam News/ANN

HANOI, April 11 (Vietnam News/ANN): Shares are forecast to go up this week, propelled by foreign net buying and positive first-quarter business results from listed companies.

The VN-Index on the Ho Chíh Minh Stock Exchange declined for a second day on Friday, concluding last week at 1,231.66 points.

The index increased a total of 0.59 per cent last week.

More than 702.4 million shares were traded on the southern exchange on average during each session last week, worth VNĐ16.6 trillion (US$720.8 million).

According to SSI Securities Joint Stock Company (SSI), after surpassing the 1,200-point landmark, the next target for the VN-Index will be in the range of 1,350 - 1,400 points.

According to SSI Securities Joint Stock Company (SSI), after surpassing the 1,200-point landmark, the next target for the VN-Index will be in the range of 1,350 - 1,400 points.

But the market is expected to get a big jump this week, after an excellent Q1 report which was announced by the government on Monday (April 12).

Vietnam reported a trade surplus of US$2.8 billion in the first quarter of the year, government customs data released on Monday showed.

Exports in the January-March period rose 23.7% from a year earlier to $78.4 billion, while imports were up 26.8% to $75.6 billion, the Customs Department said in a statement.

In March, the country reported a trade surplus of $1.2 billion, swinging from a deficit of $460 million in February, it added.

As for the share market, many experts believe tech stocks are set for a bumper week.

Last week, information technology stocks increased the most thanks to the increase of the pillars in the group such as FPT Corporation (FPT), up 2.9 per cent.

Meanwhile, Vietnam recorded 12 new cases of Covid-19 infection on Monday (April 12), raising the total confirmed cases in the country to 2,705, according to the country's Ministry of Health.

The new cases included five foreign experts and seven Vietnamese citizens who recently entered the country from abroad and were quarantined upon arrival, said the ministry.

As many as 2,445 patients have been given the all-clear, up 16 from Sunday, the ministry said, adding that over 36,900 people are being quarantined and monitored. - Vietnam News/ANN
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