The downward slide of shares on the HCMStock Exchange slowed a bit on Nov. 10, with the VN-Index dropping 1.81percent to end the session at 524.4 points.
Trading volume rose to 50.23 million shares, worth a combined 2.3trillion VND (129.21 million USD), while Sacombank reclaimed theposition as most-active share, with 3.9 million units changing hands,accounting for nearly 8 percent of total market volume for the day.
On the Hanoi Stock Exchange, the HNX-Index fell on Nov. 10 by 2.46percent to close at 177.34. About 25 million shares changed hand duringthe session, generating a turnover of 1 trillion VND (56.2 millionUSD), with construction giant Vinaconex (VCG) leading trading with avolume of 2.6 million shares.
“More investors have begun buying in again after a long period ofmarket decline, which could be considered as a supportive factor formarket growth currently,” said Hanoi broker Nguyen Duy Tan, although headmitted that buy-in volume paled in comparison to current activity onthe gold market, where record high prices reaching 27 million VND(1,500 USD) in recent days have fueled speculation.
“Many analysts say that gold could climb higher, which could be a basisfor investors to turn from securities to gold,” Tan said. “For the timebeing, capital inflows into the securities markets will fluctuate andday-trading activity seems to be increasing.”
Meanwhile, however, net buys by foreign investors have contributed tohelp slow the decline of the stock market, Tan said. This sector onNov. 10 picked up a combined net of 922 million shares on both stockexchanges.
Vietcombank Securities Co told the website vneconomy.vn that flows ofdomestic capital into the stock market seemed to be tightening due toshifts in official monetary policy./.
Trading volume rose to 50.23 million shares, worth a combined 2.3trillion VND (129.21 million USD), while Sacombank reclaimed theposition as most-active share, with 3.9 million units changing hands,accounting for nearly 8 percent of total market volume for the day.
On the Hanoi Stock Exchange, the HNX-Index fell on Nov. 10 by 2.46percent to close at 177.34. About 25 million shares changed hand duringthe session, generating a turnover of 1 trillion VND (56.2 millionUSD), with construction giant Vinaconex (VCG) leading trading with avolume of 2.6 million shares.
“More investors have begun buying in again after a long period ofmarket decline, which could be considered as a supportive factor formarket growth currently,” said Hanoi broker Nguyen Duy Tan, although headmitted that buy-in volume paled in comparison to current activity onthe gold market, where record high prices reaching 27 million VND(1,500 USD) in recent days have fueled speculation.
“Many analysts say that gold could climb higher, which could be a basisfor investors to turn from securities to gold,” Tan said. “For the timebeing, capital inflows into the securities markets will fluctuate andday-trading activity seems to be increasing.”
Meanwhile, however, net buys by foreign investors have contributed tohelp slow the decline of the stock market, Tan said. This sector onNov. 10 picked up a combined net of 922 million shares on both stockexchanges.
Vietcombank Securities Co told the website vneconomy.vn that flows ofdomestic capital into the stock market seemed to be tightening due toshifts in official monetary policy./.
