Market volume on the HCM Stock Exchange sank to a seven-month low on Jan. 25, with only 20.9 million shares changing hands, although the VN-Index gained 0.7 percent to close at 480.91 points.
The value of the trading session totalled a meagre 863.8 billion VND (46.7 million USD).
Investor responses to positive news seemed weak, said Nguyen Xuan Binh, a market analyst with Bao Viet Securities Co, pointing to optimistic corporate results being released but having no impact on market moves.
Even with January inflation rates in HCM City and Hanoi suggesting a reason for optimism, investors had not taken any action, Binh said.
And, noted analyst Nguyen Thanh Vuong, “they are really sensitive to any changes in or rumours about the economic situation, as well as global events”.
The US situation was another thing dragging down the market, Vuong added.
Binh felt the current market funk was similar to the period leading up to last year’s Tet holiday, adding: “Analysts and investors agree the market will be brighter after Tet, when liquidity issues and inflationary pressure settle.”
On the Hanoi Stock Exchange, the HNX-Index fell another 0.16 percent to close at 157.32 points. Market value was a weak 439.8 billion VND on a volume of 14.4 million shares.
Technical indicators indicated no signs of an impending dip in the market, Binh said, noting a current price-to-earnings ratio of 12.5x.
The domestic economy was in sustainable recovery which would allow the market to achieve a mid or long-term rally, he added, recommending value investors continue injecting money while margin traders should stay out./.
The value of the trading session totalled a meagre 863.8 billion VND (46.7 million USD).
Investor responses to positive news seemed weak, said Nguyen Xuan Binh, a market analyst with Bao Viet Securities Co, pointing to optimistic corporate results being released but having no impact on market moves.
Even with January inflation rates in HCM City and Hanoi suggesting a reason for optimism, investors had not taken any action, Binh said.
And, noted analyst Nguyen Thanh Vuong, “they are really sensitive to any changes in or rumours about the economic situation, as well as global events”.
The US situation was another thing dragging down the market, Vuong added.
Binh felt the current market funk was similar to the period leading up to last year’s Tet holiday, adding: “Analysts and investors agree the market will be brighter after Tet, when liquidity issues and inflationary pressure settle.”
On the Hanoi Stock Exchange, the HNX-Index fell another 0.16 percent to close at 157.32 points. Market value was a weak 439.8 billion VND on a volume of 14.4 million shares.
Technical indicators indicated no signs of an impending dip in the market, Binh said, noting a current price-to-earnings ratio of 12.5x.
The domestic economy was in sustainable recovery which would allow the market to achieve a mid or long-term rally, he added, recommending value investors continue injecting money while margin traders should stay out./.
