It was strange that domestic investors still sold stocks which led to oversupply though there was good news for the Vietnamese stock market in the week from June 18-22.
In the past few days, the foreign media and regional experts have made optimistic comments about the Vietnamese economy and the Vietnamese stock market in particular.
Japan’s Sankei newspaper on June 19 said that the Vietnamese stock market was the most interesting of emerging stock markets like those of Indonesia, South Africa, Turkey and Argentina.
CNN channel, meanwhile, several times a day broadcast a 30-second video clip titled Vietnam: a new horizon, which mentioned the achievements of Vietnam’s renovation period over the past 20 years in all fields.
Regional newspapers had the same comment that the Chinese stock market was burning and some other economies showed signs of depression. Investors are paying attention to Vietnam, an economy with a high and stable growth rate (over 8%).
Business missions and entrepreneurs of some countries expressed their wish to boost investment into Vietnam, particularly in the areas of infrastructure, electronics, garments, securities and services.
Vietnamese and international experts have said that the Vietnamese stock market has a lot of potential. The equitisation process in Vietnam is being quickened. The prices of many types of stocks are reasonable and they said that it was time for big foreign investors to think of entering this market.
Contrary to the good news about the stock market, the indexes of the two securities trading centres in Hanoi and HCM City reduced remarkably.
The VN-Index of the HCM City Securities Trading Centre dropped 14.5 points, marking the fourth consecutive week of decline. The HASTC-Index of the Hanoi Securities Trading Centre also saw a fall of 13.7 points.
With four trading sessions of reduction and only one of increase, the VN-Index dropped to 1,033.69 points, equivalent to an average reduction of 1.4% for all kind of stocks in the week.
The HASTC-Index was in the same situation with only one trading session early in the week witnessing an increase and the four others doing otherwise, with the final reduction of 4.37%. The HASTC-Index went under 300 points for the first time in five months.
The prices of 65 types of stocks on the HCM City Securities Trading Centre went down, 33 others rose and nine remained the same. At the Hanoi Securities Trading Centre, 12 types had their prices go up, four remained the same and 71 went down.
Notably, while foreign investors bought stocks (around 1.3-1.4 mil units/trading session), local investors tried to sell. Foreign investors bought 6.3 million units of shares and fund certificates, worth over VND905.4 billion (US$56.5 million), and sold nearly 4.6 million units, worth VND682.6 billion ($42.68 million).
Local investors, meanwhile, offered 55.54 million shares and fund certificates for sale and purchased nearly 47.2 million shares.
Source: VNE
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment