The bottom continued to drop out of the HCM City stock market on Jan. 21, withVN-Index plunging another 2.26 percent to close at 478.42.
The value ofthe day’s trades on the HCM Stock Exchange reached 1.79 trillion VND ( 95.2million USD). While volume rose by 15.5 percent over the previous day to wellover 40 million shares, decliners made up 87 percent of the market.
Sacombank (STB) was the most active share on the day, with over 2million traded.
The market was now below the point at which it began thenew year, reflecting the gloomy outlook of investors toward current economicpolicy, said VNDirect Securities Co analysts in a market forecast report.
Many investors were waiting for even lower prices, expecting theVN-Index to fall to around 450 points soon, the report said.
On theHanoi Stock Exchange, the HNX-Index also slid by 2.12 percent to 157.64 points.The value of trades reached 872.14 billion VND (41.6 million USD), up 36 percentfrom the previous session, on a volume of 23.8 million shares.
Kim LongSecurities (KLS) secured the position as the most active share on both markets,with 4.2 million changing hands.
The State Bank of Vietnam on Jan.20denied rumours of an impending increase in the prime rate, saying it lacked anygrounds yet to do so.
Inflation was reported to rise by 1.27 percent inJanuary in HCM City , 1.3 percent in Hanoi , and it is estimated to reach 1.5percent nationwide.
Investors, presented with mixed messages about themarket, were becoming more cautious, said FPT Securities Co analysts.
However, foreign investors continued to be net buyers on both bourses onJan. 21. Their net buys grew by 52.6 percent in volume to over 2.9 millionshares, worth a combined net of 126.2 billion VND (6.7 million USD)./.
The value ofthe day’s trades on the HCM Stock Exchange reached 1.79 trillion VND ( 95.2million USD). While volume rose by 15.5 percent over the previous day to wellover 40 million shares, decliners made up 87 percent of the market.
Sacombank (STB) was the most active share on the day, with over 2million traded.
The market was now below the point at which it began thenew year, reflecting the gloomy outlook of investors toward current economicpolicy, said VNDirect Securities Co analysts in a market forecast report.
Many investors were waiting for even lower prices, expecting theVN-Index to fall to around 450 points soon, the report said.
On theHanoi Stock Exchange, the HNX-Index also slid by 2.12 percent to 157.64 points.The value of trades reached 872.14 billion VND (41.6 million USD), up 36 percentfrom the previous session, on a volume of 23.8 million shares.
Kim LongSecurities (KLS) secured the position as the most active share on both markets,with 4.2 million changing hands.
The State Bank of Vietnam on Jan.20denied rumours of an impending increase in the prime rate, saying it lacked anygrounds yet to do so.
Inflation was reported to rise by 1.27 percent inJanuary in HCM City , 1.3 percent in Hanoi , and it is estimated to reach 1.5percent nationwide.
Investors, presented with mixed messages about themarket, were becoming more cautious, said FPT Securities Co analysts.
However, foreign investors continued to be net buyers on both bourses onJan. 21. Their net buys grew by 52.6 percent in volume to over 2.9 millionshares, worth a combined net of 126.2 billion VND (6.7 million USD)./.
