ID :
34983
Wed, 12/10/2008 - 22:27
Auther :
Shortlink :
http://m.oananews.org//node/34983
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VN-Index tracks global market gains
Hanoi (VNA) - The VN-Index followed global markets and regained a little lost ground on December 9, picking up 4.61 points or 1.6 percent, to close at 293.3.
However, trading volume on the HCM Stock Exchange continued to be
sluggish, falling by 26 percent to 8.86 million shares, for a turnover of
211.13 billion VND (12.8 million USD).
Most active shares included Sacombank (STB), with orders for 1.7 million
shares, followed by Saigon Securities Inc (SSI), at nearly 600,000 shares,
and Phu My Fertilisers (DPM) at about 520,000.
Foreign investors were net sellers of about 33,000 shares although net
sales value contracted to about 1.2 billion VND (72,7000 USD) from Monday's
17 billion VND (about 1 million USD).
The Vietnam Association of Financial Investors (VAFI) said on its website
that it expected firms from a wide range of sectors would soon release their
monthly results, which would give investors an overall picture of the
economy's health and help stabilise the market.
"Investors are treating the market as if the [domestic] economy were
falling into recession and witnessing financial crisis," commented VAFI
general secretary Nguyen Hoang Hai.
"The facts do not bear that out. The economy is neither facing depression
nor financial crisis. It's just feeling the impacts of the world situation
and may see slower growth next year."
Dien dan Doanh nghiep (Business Forum) quoted Luu Nguyen Chi Nhan, deputy
director of the Sai Gon-Hanoi Fund Management Co, as saying that impacts of
the world economic turmoil on the domestic economy would be seen more
clearly next year, particularly on exports and foreign investments.
But Nhan said his company expected to boost investments next year and was
looking to both the real estate and stock markets to revive by the second
quarter of 2009.
In Hanoi on December 9, the HASTC-Index also closed 3 percent higher,
rising to 103.11 . About 6 million shares changed hands for a total value of
140.2 bilion VND (8.5 million USD).
But the northern exchange also saw minimal activity, as market leader Asia
Commercial Bank (ACB) generated orders for only 1.1 million shares, and
runner-up Kim Long Securities (KLS) for only 970,000 shares.-Enditem
However, trading volume on the HCM Stock Exchange continued to be
sluggish, falling by 26 percent to 8.86 million shares, for a turnover of
211.13 billion VND (12.8 million USD).
Most active shares included Sacombank (STB), with orders for 1.7 million
shares, followed by Saigon Securities Inc (SSI), at nearly 600,000 shares,
and Phu My Fertilisers (DPM) at about 520,000.
Foreign investors were net sellers of about 33,000 shares although net
sales value contracted to about 1.2 billion VND (72,7000 USD) from Monday's
17 billion VND (about 1 million USD).
The Vietnam Association of Financial Investors (VAFI) said on its website
that it expected firms from a wide range of sectors would soon release their
monthly results, which would give investors an overall picture of the
economy's health and help stabilise the market.
"Investors are treating the market as if the [domestic] economy were
falling into recession and witnessing financial crisis," commented VAFI
general secretary Nguyen Hoang Hai.
"The facts do not bear that out. The economy is neither facing depression
nor financial crisis. It's just feeling the impacts of the world situation
and may see slower growth next year."
Dien dan Doanh nghiep (Business Forum) quoted Luu Nguyen Chi Nhan, deputy
director of the Sai Gon-Hanoi Fund Management Co, as saying that impacts of
the world economic turmoil on the domestic economy would be seen more
clearly next year, particularly on exports and foreign investments.
But Nhan said his company expected to boost investments next year and was
looking to both the real estate and stock markets to revive by the second
quarter of 2009.
In Hanoi on December 9, the HASTC-Index also closed 3 percent higher,
rising to 103.11 . About 6 million shares changed hands for a total value of
140.2 bilion VND (8.5 million USD).
But the northern exchange also saw minimal activity, as market leader Asia
Commercial Bank (ACB) generated orders for only 1.1 million shares, and
runner-up Kim Long Securities (KLS) for only 970,000 shares.-Enditem
