ID :
13604
Thu, 07/24/2008 - 10:08
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http://m.oananews.org//node/13604
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Petrol, gold woes hit VN-Index
Hanoi (VNA) - The VN-Index slid for a second day on July 22 after 20 consecutive upward sessions, falling 12.94 points or 2.75percent to close at 457,.8 points.
More than 2.4 million shares were traded for a total of 120 billion VND. Nearly 100 percent of code shares hit floor prices.
The decrease was partly attributed to the large volume of shares sold by short-term investors to regroup their capital so they can continue trackingthe market.
However, no one is overlooking the role that skyrocketing petrol prices made to the fall, orthe recent increases in both gold and the US dollar thatslowed money flow into the stock market.
One investor with SeaBank said that despite great expectations that theVN-Index would exceed 500 points, he changed his mind and sold all shares.
He said he worried that enterprises would meet difficulties after theunexpected rise in petrol prices.
At the July 22 trading session, Ho Chi Minh City Stock Exchange received a new code share DDM (Dong Do Marine), which has more than 8.9million shares with a reference price of 14,000 VND each.
Huy Duong, an analyst with Hoa Binh Securities, said dearer petrol would result in an increase in many commodities, forcing people to spend money ontheir living instead of investing it in the securities market.
But he believed that investors would keep calm and review and marketcarefully because share prices remained attractive.
In Hanoi , the HASTC-Index was down 2.59 points to end the day at145.69 points. A total of 446,100 shares changed hands for 18 billion VND.
HASTC on the day listed Electricity Construction Consultancy JSC (codeshare TV4) with 2.75 million shares. Of these, 40,900 shares changed hands.
The northern bourse saw two shares advance, 105 decline, and 36 shares were inactive.-Enditem
More than 2.4 million shares were traded for a total of 120 billion VND. Nearly 100 percent of code shares hit floor prices.
The decrease was partly attributed to the large volume of shares sold by short-term investors to regroup their capital so they can continue trackingthe market.
However, no one is overlooking the role that skyrocketing petrol prices made to the fall, orthe recent increases in both gold and the US dollar thatslowed money flow into the stock market.
One investor with SeaBank said that despite great expectations that theVN-Index would exceed 500 points, he changed his mind and sold all shares.
He said he worried that enterprises would meet difficulties after theunexpected rise in petrol prices.
At the July 22 trading session, Ho Chi Minh City Stock Exchange received a new code share DDM (Dong Do Marine), which has more than 8.9million shares with a reference price of 14,000 VND each.
Huy Duong, an analyst with Hoa Binh Securities, said dearer petrol would result in an increase in many commodities, forcing people to spend money ontheir living instead of investing it in the securities market.
But he believed that investors would keep calm and review and marketcarefully because share prices remained attractive.
In Hanoi , the HASTC-Index was down 2.59 points to end the day at145.69 points. A total of 446,100 shares changed hands for 18 billion VND.
HASTC on the day listed Electricity Construction Consultancy JSC (codeshare TV4) with 2.75 million shares. Of these, 40,900 shares changed hands.
The northern bourse saw two shares advance, 105 decline, and 36 shares were inactive.-Enditem
