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49963
Wed, 03/11/2009 - 07:30
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http://m.oananews.org//node/49963
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Index up, as foreign investor sales slow down
Hanoi (VNA/VNS) - The VN-Index on March 9 increased 2.15 points to close at 247.85, a rise of 0.88 percent, as a couple of reports noted an easing in the pace at which foreign investors have been unloading Vietnamese shares since late last year.
Volume in March 9 session on the HCM Stock Exchange rose 43 percent over the
previous session to 10.4 million shares, for a combined value of 197.2 billion VND
(11.6 million USD). Buying volume has outnumbered selling volume for six consecutive
days, according to VNDirect Securities.
PetroVietnam Transportation Co (PVT) claimed the spot as the most-active share, with
958,000 units traded, followed by perennial favourite Sacombank (STB), with 737,000
shares.
"There's little chance that the VN-Index will fall further," Hanoi Securities Co
opined in a report. "But it will also be hard for the market to rally, as trading
volumes and values are maintaining moderate levels without any sudden changes."
According to VNDirect Securities, foreign investor buys improved on March 9, with
foreign investors picking up 1.86 million shares-about seven times last week's
daily average. Nevertheless, foreign investors continued to be net sellers on
March 9, selling around 2.9 million shares, and net sale of about a million share,
worth 15.4 billion VND (906,000 USD).
HSBC has remarked on slower foreign investors sales, in its latest report, Vietnam
Monitor March 2009. Net foreign investor sales totalled 127 million USD in the
fourth quarter fell to just 2 million USD in the first two months of 2009.
Foreign investors "have sold a lot, and now they don't have much left to sell,"
quipped HCM City Securities Co expert Fiachra MacCana, who predicted foreign
indirect investment would improve in another six months.
In the meantime, MacCana said, investment funds would have few opportunities to
raise capital as their stakeholders were still under pressure to withdraw capital
amid the global financial turmoil.
In Hanoi on March 9, the HASTC-Index also closed 0.94 points higher to 85.53,
an increase of 1.11 percent. Trading volume was 4.5 million shares, worth 84 billion
VND (4.9 million USD). Most stocks saw minimal activity, except for Asia Commercial
Bank (ACB) with a 1.3 million shares changing hands.-Enditem
Volume in March 9 session on the HCM Stock Exchange rose 43 percent over the
previous session to 10.4 million shares, for a combined value of 197.2 billion VND
(11.6 million USD). Buying volume has outnumbered selling volume for six consecutive
days, according to VNDirect Securities.
PetroVietnam Transportation Co (PVT) claimed the spot as the most-active share, with
958,000 units traded, followed by perennial favourite Sacombank (STB), with 737,000
shares.
"There's little chance that the VN-Index will fall further," Hanoi Securities Co
opined in a report. "But it will also be hard for the market to rally, as trading
volumes and values are maintaining moderate levels without any sudden changes."
According to VNDirect Securities, foreign investor buys improved on March 9, with
foreign investors picking up 1.86 million shares-about seven times last week's
daily average. Nevertheless, foreign investors continued to be net sellers on
March 9, selling around 2.9 million shares, and net sale of about a million share,
worth 15.4 billion VND (906,000 USD).
HSBC has remarked on slower foreign investors sales, in its latest report, Vietnam
Monitor March 2009. Net foreign investor sales totalled 127 million USD in the
fourth quarter fell to just 2 million USD in the first two months of 2009.
Foreign investors "have sold a lot, and now they don't have much left to sell,"
quipped HCM City Securities Co expert Fiachra MacCana, who predicted foreign
indirect investment would improve in another six months.
In the meantime, MacCana said, investment funds would have few opportunities to
raise capital as their stakeholders were still under pressure to withdraw capital
amid the global financial turmoil.
In Hanoi on March 9, the HASTC-Index also closed 0.94 points higher to 85.53,
an increase of 1.11 percent. Trading volume was 4.5 million shares, worth 84 billion
VND (4.9 million USD). Most stocks saw minimal activity, except for Asia Commercial
Bank (ACB) with a 1.3 million shares changing hands.-Enditem
