Lower volumes and flagging investor interest on Dec. 3 sends the VN-Index down

Hanoi (VNA) – Lower volumes and flagging investor interest on Dec. 3 sent
the VN-Index down another 0.87 percent to a close 494.80 points.

Trading on the HCM Stock Exchange slowed to just 40.63 million shares, worth a
total of 1.66 trillion VND ( 92.2 million USD), although banking shares like
Sacombank (STB) and Eximbank (EIB) continued to attract investor interest.

On the Hanoi Stock Exchange, the HNX-Index also lost about half of a percentage
point of its value, dropping to 159 points. Volume fell to just 18.76 million
shares, worth a total of 645.34 billion VND (35.8 million USD).

Asia Commercial bank (ACB) and Kim Long Securities (KLS) topped the securities
trade in Hanoi , for a volume of 2.8 and 2.3 million shares, respectively.

“The market has been perplexed by a mix of good and bad news from regulators,
casing many investors to take a wait-and-see attitude,” said independent analyst
Nguyen Van Dung.

A dumping of shares and a declining Dow Jones on Wall Street overnight deepened
the gloom for domestic investors and also caused them to ease off on trading on
Dec. 3, Dung said.

Viet Capital Securities Co analysts noted in a report on Dec. 2 that the
securities market was rife with more risks than profitability due to the unstable
psychology of investor, driven largely by rumours.

Investors were following a day trading strategy, they said, seeking instant profit
as soon a purchased shares were cleared into their accounts.

Foreign investor once again provided an asset to the market, continuing as net
buyers of combined 2.6 million shares, worth a total of 78.6 billion VND (4.4
million USD).- Enditem